Matthew Puttick: Brokers continue to drive KGM Underwriting Services’ ambitions

For motor MGA KGM Underwriting Services’ chief executive, Matthew Puttick, receiving a five star rating from surveyed brokers in Insurance Times’ Five Star Rating Report: MGA market 2022 was a vindication of the work the company has been doing for more than 60 years.

“It is a fantastic result for us,” he tells Insurance Times. “We have been working with brokers since 1957, so we have been a part of the market for over 60 years.

“It would have been disappointing for us if we found that brokers did not think we were worth five stars for the services and representation that we provide.”

Puttick says that KGM Underwriting Services stands out from the rest of the MGA market because it continues to keep relationships with brokers at the heart of everything it does.

He explains: “We ensure that brokers can speak to us and we can provide them with a decision, which is something that I think brokers have been concerned about with other markets.”

In alignment with this view, Puttick adds that KGM Underwriting Services has invested heavily in its people, to ensure that the services provided by the MGA remain at a high standard.

“We continue to look at areas where we can improve,” he says. “Be it our systems, or the way in which brokers want to trade with us. The aim is to be the best that we can be.”

Getting close to brokers

While the MGA has a clear vision of how to strengthen its relationship with brokers, Puttick says his team are always ready to listen.

“We actively look to see how we can engage and listen to our brokers, to discover what they want from us and how we can deliver that in [a] way which exceeds expectations,” he adds.

Puttick explains that as a motor specialist, KGM Underwriting Services is acutely aware of the pressure that is on brokers operating in this market.

“The motor classes are the most competitive in the whole of the insurance industry and we understand the requirements of our broker partners,” he says.

“We remain one of the few insurers [that brokers] can talk to and get a decision.

“It is really a case of our teams talking to and engaging with brokers and their clients. We want to be close to both so we can better understand their risks and what they require from us as an underwriter.

“From our point of view, we are continually looking at the specialist and niche markets.

“We write across all motor classes, with over 200 different variations of our products [across] a large number of brokers. It means we are doing something different all day, every day.”

Shared values

Puttick says KGM Underwriting Services wants to work with brokers that share the same values that it believes are important.

He continues: “We are looking to work with brokers [that] are committed to the class of business and are in the industry for the long term.

“We want to work with those [that] know their clients and are prepared to advocate for them.

“We are an underwriting-led business and look to make real decisions - not [just] blindly following the data. We recognise the value of data and are investing in our systems. However, we will continue to invest in the right people to come and work for us.

“Brokers want to talk to people and those people have to be knowledgeable, but also have to be committed to the relationship that has been built with our brokers.”

Looking to the future, Puttick adds: “We will always look to improve.

“In the motor classes, if you stand still, you fail. We are always looking at ways in which we can do what we do better.”

The full Five Star Rating Report: MGA market 2022 will be available in November 2022.