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Paul Lucas (00:00:00) Hello everyone, and welcome to Insurance Business TV as we celebrate one of this year's 5-Star Wholesale Brokers and MGAs—Monarch E&S Insurance Services. Joining us today is Yiana Stavrakis, President of Monarch E&S, to discuss not only the company’s success but also recent developments in the E&S market. Yiana, welcome to Insurance Business TV. 

Yiana Stavrakis (00:00:24) Hi Paul, I’m so happy to be here. Thank you for having me. 

Paul Lucas (00:00:27) Congratulations to Monarch E&S on being named among this year's 5-Star Wholesale Brokers and MGAs. What do you think led to that success? 

Yiana Stavrakis (00:00:37) First, it’s a huge honor. This is actually our fifth year in a row receiving this recognition. I’d be remiss if I didn’t give a ton of credit to our team at Monarch. They’re hardworking, engaging, and very knowledgeable within the E&S space. On average, they bring over 15 years of experience in both commercial and personal lines. 

Our team consistently engages with retail broker customers and carrier partners to find solutions for insureds across the country. So, thank you to our partners, to our team at Monarch, and to IBA for the recognition. 

Paul Lucas (00:01:13) I’m sure they appreciate that. And like you said, it’s incredible to achieve this five years in a row. Looking specifically at the market now, are there any trends retail brokers should be mindful of? 

Yiana Stavrakis (00:01:28) Yes. The biggest trend is how rapidly the market is changing—literally on a daily basis. I’ve never seen anything like this before. Traditionally, market cycles were longer—either hard or soft—and more uniform across business lines. But now, different lines of business fluctuate independently, and it changes every month. 

My advice to retail brokers is to partner with a strong wholesaler or MGA that you can trust, one who stays on top of these changes so you don’t have to navigate the market alone. 

Paul Lucas (00:02:04) Speaking of changes, that naturally leads us to automation, which has become a huge theme in the E&S space and beyond. How is Monarch utilizing technology right now? 

Yiana Stavrakis (00:02:17) Technology is extremely important for the MGA sector—as shown by its inclusion in the IBA 5-Star categories. Services such as self-service quoting are now table stakes. But right now, artificial intelligence is the buzzword. 

I recently read about AIG using AI not just in servicing but also in sales. At Monarch, we’re conducting case studies around AI for servicing and automation. It’s important to assure our staff and partners that our approach is transparent—we’re using technology to remove monotonous tasks from our team’s workload so they can focus on higher-value work. 

Because technology evolves so quickly, we recommend a thoughtful, piecemeal approach to adopting vendors and solutions. What works today may change tomorrow. 

Paul Lucas (00:03:20) Another big focus has been data. Reinsurers are seeking insurers to supplement data with third-party sources to identify markets for new products and anticipate claims. Have you launched any new products, or identified new opportunities? 

Yiana Stavrakis (00:03:41) Yes, data is absolutely critical—for reinsurers and for MGAs—to even present opportunities in the program space. While I can’t disclose all of our initiatives, one product we’ve had for years is a personal article floater, covering fine arts and jewelry. 

This product, which we launched about 20 years ago, has become even more relevant today with the unbundling of standard homeowners markets. Personal article floaters are increasingly needed in the E&S space. We back our products with strong data, adjust coverage as demographics and markets shift, and support them with high limits and deep expertise, in partnership with our reinsurers. 

Paul Lucas (00:04:33) Sounds like we’ll need to come back to hear more about those new products. But looking at broker relationships, is there anything retail brokers could do better when working with wholesalers? 

Yiana Stavrakis (00:04:53) Yes. Given how volatile the market is right now, retail brokers should limit the number of wholesalers they work with. Having one or two strong partners is usually the best path. 

This avoids blocking the marketplace, which is the worst outcome. You want to work with a wholesaler who knows the carriers, can get your submission to the top of the pile, and can secure results for your clients. Brokers who spread submissions too widely won’t achieve the best outcomes in today’s market. 

Paul Lucas (00:05:39) That’s a great tip. Yiana, thank you so much for your time, and congratulations again to Monarch E&S Insurance Services for being named one of this year’s 5-Star Wholesale Brokers and MGAs. For more insights into the E&S market and beyond, keep it here on Insurance Business TV.