Analysis

Briefing: Are insurtech MGAs disrupting the market as much as they think?

By 2022-11-10T12:02:00

disrupt, lightbulb, launch

The marriage of insurtech and MGAs could bring ‘fresh energy’ to the insurance sector, but do these businesses have the know-how to attract customers?

MGAs are making their mark on the UKGI market.

Their growth is undeniable – rating agency AM Best’s September 2022 report, entitled Technology and talent drive managing general agent growth, estimated that the premium generated through the MGA market has doubled over the last decade, with worldwide premiums for MGAs increasing from $51bn (£45bn) in 2020 to $60bn (£53bn) in 2021.

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