Holmes Murphy Launches New Company: Innovative Program Solutions (IPS)

News provided by

May 09, 2024, 12:03 ET

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
[email protected]

SOURCE Holmes Murphy