Acronyms
What is an MGA (managing general agent)?
The only financial activity in this entity is revenue and cost of revenue (broker commission).
What is At-Bay Insurance Services, LLC?
At-Bay's sales team.
Who are the underwriters?
Apollo and Sayata are examples of this.
Who are At-Bay's partners?
An arrangement where one insurance company spreads the risk to other insurers.
What is reinsurance at At-Bay?
Name of revenue for insurance companies.
What is GWP (gross written premium)?
Pays At-Bay Insurance Services net of their commission
What are Brokerage Houses/Agencies?
At-Bay's largest customer
Who is Amwins?
At-Bay underwrites cyber and tech policies on this company's paper.
Who is Trisura? (Used to be HSB).
20%
What is the portion of the risk that At-Bay Reinsurance retains?
Where brokers go if they want a quote instantly.
What is BP (Broker platform)?
At-Bay Insurance Services customers
Who are brokerage houses/wholesale agencies?
36% and 24.84%
What are At-Bay Insurance Services cut (ceding commission) of E&S policies written on HSB and Trisura's paper?
At-Bay had to switch paper because we ran out of this.
What is capacity?
Skyward, Cincinnati, Berkley, Arch are all examples of this.
What are examples of reinsurers? Or Who is on the reinsurance panel?
At-bay's current main product offerings (the policy type).
What is Excess and Surplus (E&S) or MPL?
20% of Gross written premium
What is the average broker commission?
~$10k
What is At-Bay's average premium per policy (as of 10.31.22)?
People in this entity are responsible for running security scans on potential named insureds.
Who is At-Bay Technologies Israel, Ltd?
At-Bay's two entities that record revenue.
Who are At-Bay Insurance Services and At-Bay Reinsurance?
Type of policies written on State National's paper.
What is MPL (miscellaneous professional liability)?
At-Bay can recognize revenue for a policy based on this logic.
What is Binds L? What is later of date bound or date effective?
Average of 46 days
How long does it take for At-Bay to be paid for policies? AKA Days Sales Outstanding (DSO).
Relay and Sayata have this in common.
What are multi-carrier platforms?
Limits the risk of At-Bay Reinsurance to a maximum %.
What is a QS (quota share)?