MGA Company

I had an idea for building an insurance company, starting with pet insurance, and potentially developing into auto renters and homeowners. I have been applying to insurance jobs just to gain experience in the field which would be very beneficial in starting this company.

I understand MGA partners with insurers, and they can underwrite, bind, and handle claims and contracts.

What is an Insurance Carrier, and what roles can they perform?

What is an MGU?

I like the idea of having a company that can be the insurer and handle all the claims and underwriting and everything like that, but I understand that that is a whole process and would require serious funding requirements and building a team. If we started as an MGA and partnered with the insurers for now, could we end up developing our own insurer team? The idea is to start as MGA, partner with insurers and, as we grow, seek out new investors to help meet funding requirements for licensure and to be able to be our own insurer.