Description

“Start an MGA,” they said. “It’ll be fun,” they said. Traditionally thought of as a simple insurance distribution channel, the untapped potential in the MGA market is enormous. Today, it’s growing rapidly, and the program business market now consists of nearly 2,000 MGAs, MGUs, and coverholders or delegated underwriting authority enterprises (DUAE) globally with an approx. combined annual revenue of $12.5 billion USD. Why the sudden growth? The answer lies in the flexibility it offers and the reasons these companies get launched, some are an easier entry point to the industry before eventually deciding to Convert to Carrier, others are stood up by Traditional carriers looking to quickly capitalize on new markets or products, some are part of a short-term revenue strategy, live test environment, or InsurTech Launchpad, and still others are simply Greenfield startups. Certainly, other reasons exist. Discuss this trend and how best to capitalize on it in this year’s IASA Technology Super Session.

Tracks:

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  Information Technology

Exporter Choices

1. Learning Objective 1:
Differentiate between the benefits of starting a DUAE business to and that of a regular insurance company.

2. Learning Objective 2:
Identify different reasons for starting an MGA.

3. Learning Objective 3:
Identify whether this business model would be right for a planned launch or expansion.

4. Target Audience:
General

Please select your session type::
Interactive Presentation and Group Discussions