How Insillion’s Insurance Product Builder Software Simplifies Complex Product Launches

Insurance Product Builder Software 

A new insurance product launch is especially challenging for startup MGAs. Most MGAs focus on niche or specialty lines (e.g. excess & surplus, cyber, and flood) that are complex to build and demand unique configurations and specialized risk assessment tools. Reports show that roughly 55% of MGA premiums come from firms writing specific lines of business. Yet the path to launching these products is filled with obstacles. Building specialized products requires significant resources that most MGAs simply do not have. For those operating with tight margins, the costs and time involved can quickly become prohibitive. 

This blog highlights the challenges MGAs face and how Insillion’s Excel-to-API insurance product development software helps MGAs accelerate speed to market.  

1. The Product Development Challenge: Resource constraints 

MGAs often operate with lean teams and limited financial resources. Creating an insurance product requires significant investment, specialized expertise, and advanced IT infrastructure. For many smaller and mid-sized MGAs, these demands can be prohibitive. This gap slows their ability to innovate and respond to market opportunities. Traditional product development cycles, with lengthy design phases and complex integrations, consume valuable time and capital. 

2. Product Complexity: Excess and Surplus + Specialty 

Specialty lines such as E&S and cyber insurance are highly complex, dealing with unique and high-risk exposures. These products require flexible rating engines, specialized underwriting guidelines, and adaptable policy structures to manage unconventional risks. Reports show that property specialization accounts for 11% of MGA premiums, followed by private passenger auto (10%), crop (5.4%), general liability (5.3%), and workers’ compensation (4%). While building such specialized products gives MGAs a competitive edge, traditional methods of using insurance product configurators make them slow and difficult to launch. Pricing, underwriting, and managing these products add even more pressure to the process 

3. Prototypes That Prove Potential: Accelerating MGA Partnerships 

Securing investment and capacity from carriers is essential for MGA growth. Yet investors and capacity providers want to see real proof of concept before committing. The challenge is that building a product from scratch takes significant time and capital, resources many MGAs cannot afford. Without offerings to showcase, it becomes difficult to attract carrier support. This is why the ability to create quick, working prototypes using Insurance product builder software is so valuable. It allows MGAs to prove product viability, build trust, and unlock the partnerships and capital they need to scale. 

The Insillion Insurance Product Builder Excel Solution 

Insillion’s Excel-to-API insurance product builder is designed for MGAs to overcome these hurdles. For years, actuaries and underwriters have relied on Excel to build and refine rating models based on regulations, market shifts, and business strategies. 

The key idea is that with Insillion Product Builder, your underwriting team’s existing Excel “rater” spreadsheets are instantly transformed into products, with rating engines and even portals generated automatically, positioning Insillion among the best insurance product configuration tools for MGAs. 

The result is a much faster, more agile product launch process. 

1. Leveraging Existing Resources with Rater-Excel 

For niche markets, speed is everything. The process begins with your standard Excel workbook. MGAs can build a new product rater in Excel or use existing ones, say, a Cyber Insurance Rater used for writing policies. This file already contains the business logic, formulas, and calculations needed to generate premiums. Once uploaded, Insillion automatically extracts and maps the rating logic from your Excel rater and converts it into a secure, scalable API ready for integration. The Excel sheet retains all your rater calculations and rules, ready to integrate seamlessly with your core systems. 

That means your rating engine is instantly ready for integration with portals and distribution platforms, with no lengthy development cycle required. The impact is significant:  

• Product Creation is 6x faster
• Launches are 4x faster 
• Development Costs are lower since the core logic is already in your spreadsheet 

With the insurance product builder, your Average Time to Market drops to 3–4 weeks, giving you a faster and more direct way to bring products to market. 

2. Managing Complexity with Insurance Product Builder Software 

Excess and surplus (E&S) lines products are inherently complex, with multiple coverage layers, shifting risk factors, and sophisticated rating models. Insillion simplifies this by keeping all your complex rating rules, coverage options, and rate tables inside Excel. 

Insillion Product Builder Excel converts Excel logic into an API-driven insurance product. Even if your rating model is multi-layered or conditional, the platform executes it automatically with no-code. 

Need to update the rate table? Say, increasing the base rate for a specific state. Simply adjust your original Excel file and re-upload it to Insillion. Every change is tracked, version-controlled, and auditable. Your spreadsheet is no longer static, it becomes dynamic, functional, and instantly deployable. Insurance product configuration tools let MGAs manage configurations independently and eliminate long development cycles for every product change. The result: MGAs can adapt quickly to market demands. 

3. Insillion’s 180-Day Sandbox 

For E&S MGAs, achieving speed to market while managing product complexity is a constant challenge. A Policy Administration System (PAS) can handle the full insurance policy lifecycle, but the initial costs may not be feasible for MGAs. Insillion removes this barrier with a 180-day sandbox, making it easy to get started and explore the platform in depth before making any long-term commitments. The sandbox is fully featured, giving you the freedom to test and refine your products.  

You can: 

• Upload Rater-Excel files 
• Configure ratings and forms 
• Validate underwriting rules and iterate on coverages in a safe environment 
• See firsthand how Insillion streamlines product development 
• Generate ready-to-use portals for distribution and management 

Insillion's product configurator brings everything together. By the end of 180 days, you’ll have a functioning prototype to showcase to potential investors or capacity providers. And because it’s pay-as-you-grow, there’s no upfront investment. You move from concept to a live product in weeks, not months, without any initial cost. 

Take the Leap: Explore Insillion with a Sandbox

With insurance product builder software, you can move from concept to API-driven product with ease. And here’s the best part: you get six months of 180-day sandbox access to explore features and test scenarios, and refine your product. By the time you wrap up the trial, you’ll have a fully built product. Then, when you’re ready, you simply choose the plan that fits your premium volume and continue growing.  

Take the first step toward faster product launches with Insillion’s 180-day sandbox, an insurance product builder. It’s the quickest way to test, refine, and roll out new products, helping MGAs accelerate speed to market.