There is no single “best” distribution channel for MGAs- it depends on the nature of the product and level of technology integration needed. The choice of distribution channel completes the MGA’s customer journey, so MGAs may need to use multiple channels
Commercial insurance underwriting is drowning in paperwork. Underwriters spend more time on manual tasks than on evaluating risks. The solution lies in automated underwriting systems that shift focus from administration to risk assessment.
Entering an MGA–capacity partnership involves more than just financial discussions. Here are several key aspects that Chris and Somil advise MGAs to clarify early on:
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
The Excess & Surplus (E&S) insurance market continues to expand as demand grows for coverage that traditional insurers do not provide. E&S Managing General Agents (MGAs) play a crucial role in offering specialized policies to address complex and hard-to-place risks.
Yet, despite the impressive expansion, MGAs are facing a capacity crunch, with negotiations becoming more demanding and assessments more rigorous. And this has everything to do with the ongoing Hard market phase.
Brokers are indispensable strategic partners for MGAs, providing critical market access and specialized client relationships. By using modern MGA insurance software, MGAs can change these relationships.
Whether you’re an aspiring MGA or a well-established one, it’s easy for tech innovation to take a backseat unless it’s a core offering of yours. However, the right technology choices have a tangible impact across every part of your operations, be it speed, scalability or overall customer experience.
Achieving the ambitious goal of “Insurance for All by 2047” will require collective action to overcome structural barriers, build consumer trust, and position insurance as a key pillar of financial protection.
Despite recent progress, India remains significantly underinsured when compared to its economic potential and demographic size. While insurance penetration has improved marginally, large disparities exist across regions, income groups, and product lines.
Enabling faster product launches,
underwriting, and distribution
connectivity for insurance carriers and
MGAs worldwide.
