Christian Burton: Consolidation among challenges facing MGA market

How is Q Underwriting continuing to develop service levels to match and exceed broker expectations?

We will maintain our commitment to recruiting expert underwriters in their respective fields, ensuring seamless access to decision-makers, which forms the cornerstone of Q’s foundational principles. We’re also investing in new technology to streamline the customer journey and build better operational efficiencies.

Concern from brokers around the removal of or changes to capacity arrangements is still very apparent. Should brokers have any concerns about capacity arrangements at Q Underwriting?

As an MGA, we only partner with UK domiciled A-rated capacity providers, develop enduring products and maintain relationships dating back over 20 years. We aim for our brokers to trust that, at Q, their clients will be well-cared for and in safe hands. We’ve also invested heavily in our MGU department where the teams sole responsibility is to maintain, grow and manage the relationship with the insurers.

What can brokers expect in the next 12 months from Q Underwriting?

We continue to develop niche commercial products, with exciting new offerings in the pipeline for 2024/25, including PI and MLP. These products will be distributed through collaboration with specialist brokers across the UK. We also listen to our brokers and are always on the lookout for new product lines where we can support our brokers and grow together.

What are the major challenges facing the MGA market in the year ahead?

One of our biggest challenges is consolidation – our products perform best with independent brokers who are experts in their respective areas. It is essential to maintain a healthy and diverse panel of independent brokers to distribute our products effectively.

What is Q Underwriting doing to attract, develop and retain talent? What do you think needs to be done to attract the next generation of talent?

We believe in supporting our people and their continuous development. Therefore, we offer apprenticeships to those seeking knowledge or demonstrating a strong interest. This opportunity is available to anyone in the UK looking to advance their career.

However, the insurance industry needs to better promote its diversity and the numerous opportunities it offers for a wide range of skill sets, from underwriters to marketing, highlighting that it is not a boring industry to work in.