New program administrator helping to design
and implement insurance programs across industries
WAUKEE,
Iowa, May 9, 2024 /PRNewswire/ -- Holmes Murphy,
one of the nation's largest employee-owned and controlled insurance
brokerages, is thrilled to announce the launch of Innovative
Program Solutions (IPS). IPS is a full-service Managing General
Agent (MGA) practice. The company will be focused on designing
specialized insurance programs to help businesses in targeted
industries drive down expenses and loss ratios with custom
solutions created by industry experts who have decades of
experience.
IPS is led by Tim Anders, a
highly respected and successful insurance industry veteran with
more than 35 years of experience in underwriting, new program
development, program management, and leadership. Prior to joining
Holmes Murphy's family of brand companies, collectively called
PLUS, and leading IPS, Anders worked with companies such as Ryan
Specialty, Breckenridge Insurance, Zurich, and Atlantic Mutual, and dealt with
programs across a variety of industry classes and coverages.
"Innovative isn't just in our name — it's in our nature," said
Tim Anders, President, IPS. "Our
team and our extensive network of insurance and industry experts
are committed to creating best-in-class programs for our broker and
carrier partners, driving down costs, and providing expertise you
won't find anywhere else."
IPS will focus on delivering desired outcomes for all
stakeholders. By creating solutions customized to the needs of each
program, IPS will identify shortcomings and areas where losses and
expenses can be reduced and work with carriers and brokers to
implement programs designed to solve unique problems. IPS' broker
partners will be well positioned to offer new programs within their
targeted growth areas and will have access to functional expertise
and emerging technologies and tools, creating a strong
market-facing value proposition.
"Program business is an industry that produces more than
$80 billion in premiums every year,
most of which is written by Target Markets members," said Anders.
"Carriers have increasingly looked to MGAs, like IPS, to provide
expertise, innovation, and effective underwriting approaches in
specific lines of business, helping them to grow and enter new
markets. We believe by launching IPS, we'll be able to tailor
unique insurance solutions for our clients' needs through closer
partnerships with their carrier partners and positively influence
their impact on evaluation and management of risk."
"The vast network of experts we have here at Holmes Murphy and
in our subsidiary brands is a crucial part of the work we are able
to do for our clients," said Tom
Stewart, President of the PLUS division of Holmes Murphy.
"By creating Innovative Program Solutions, we will help to ensure
every program is tailored to each business by providing dedicated
resources while working to manage costs."
About Innovative Program Solutions
Innovative Program
Solutions focuses on driving target financial outcomes for all
stakeholders. We value agent expertise and relationships and strive
to identify an accurate alignment of risk and offer programs
designed to solve unique challenges. We work with a variety of
carriers and brokers to provide best-in-class programs tailored to
the unique needs of our partners. Our team provides decades of
experience and distinctive insight across industries. For more
information,
visit https://www.holmesmurphy.com/solutions/programs/.
Contact: Jena Brown
515-345-8934
jbrown@ls2group.com
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SOURCE Holmes Murphy