Watch the highlights from the event
InsTech’s new MGA half day event
Delegated underwriting originated in the UK and London is the leading specialty market in the world. Tech-enabled MGAs hold competitive advantages, particularly in high-volume, lower-premium segments, where there is an opportunity to redefine underwriting and distribution models. MGAs with modern digital platforms can underwrite more efficiently than insurers still reliant on legacy technology creating increased appetite from capacity providers for “digital underwriting as a service” models.
The combination of market leadership, human talent, new technology, data services and AI tools allows UK MGAs to launch faster, price more accurately, respond quicker and handle claims more efficiently than ever before. This potent mix means that the MGA model is increasingly exportable with significant opportunities emerging in mainland Europe and the US.
Yet challenges remain. Reliance on spreadsheets and high levels of manual intervention continue, despite greater product complexity and speed demands. MGAs operate within an increasingly demanding regulatory framework, complicated by post-Brexit variations requiring robust regulatory compliance and transparency practices. Rates are softening in many of the speciality classes.
This is a great time to be a specialty MGA. The technology is proven and better than it has ever been, there’s good access to both funding and capacity and there are quality “accelerators” on hand to provide services, support, regulatory needs to get new MGAs off to a quick and capital efficient start. Our conference agenda, shaped by a diverse set of sponsors, will touch on all these aspects of the future of the MGA ecosystem.
Robin Merttens, Executive Chairman and Co-founder
