There’s a powerful endorsement for the MGA market in an interview with Michael Keating at the MGAA this week. He is passionate about what MGAs can bring to the table and it’s a great watch, so make sure you take a look. A new report from the LMA and Oxbow Partners explores the role of Enhanced Underwriting (e.g. augmented and algorithmic underwriting), which seems to overwhelmingly show that “there is almost universal belief that it will be a fundamental part of Lloyd’s future”.
The challenges of softening market for MGAs (Source: InsureTV)
The MGA world is “thriving, absolutely thriving” according to Michael Keating at the MGAA. Check out this interview in which Michael talks about how the MGA market is booming, what MGAs can do to navigate a soft market (don’t abandon underwriting discipline for one!) and how new talent can be brought into the industry.
UK insurers’ growth to slow with steady premium income projected until 2026: EY (Source: Reinsurance News)
Falling inflation and reduced cost pressures will impact premium growth with non-life GWP falling from an anticipated 7.9% in 2024 to 4.5% in 2026 according to EY.
New underwriting report from the LMA and Oxbow Partners (Source: Insurance Edge)
This joint report reveals the market positivity for Enhanced Underwriting and how these new models are being implemented. However, it also flags the potential challenges and highlights the required capabilities.
And for those of you who have a subscription to Insurance Times check out this article (disclaimer – we do feature in it…):
Incubators help MGAs take their first steps (Source: Insurance Times)
What help is available to MGAs wanting to launch and grow? This article takes a look at how incubators can provide the right resources and support to entrepreneurs wanting to get an insurance business off the ground.
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