Technology

Tech increasingly a differentiator in competitive MGA market

Insurers are increasingly demanding greater data connectivity, modeling and underwriting tools from the MGAs they partner with, while delegated underwriting authority enterprises themselves are utilizing tools such as analytics platforms and integration hubs to support their operations, according to a new Conning and Vertafore study.

A hotbed for innovation

Welcome to the first of our two newsletters from the Target Markets Program Administrators Association Annual Summit, which has once again attracted a record number of attendees.

Four AI trends impacting MGAs in 2024 and beyond

Speed to market is paramount for MGAs. They must stand up products quickly and often deliver the full spectrum of customer experience from underwriting to issuing policies to claims, often with limited teams.

Lloyd’s commits additional £30mn PPL funding in major restructuring

Lloyd’s has agreed to commit an additional £30mn of funding to London market placement platform PPL Ltd as it prepares for a major corporate restructure, The Insurer can reveal.

CRC names Alaniz chief digital officer for commercial solutions

CRC Group has appointed Angela Alaniz as chief digital officer of its commercial solutions division, in a move the wholesaler said underscores its “unwavering commitment” to data and its “determination to remain at the forefront of digital innovation within the insurance industry”.

Accelerant signs up carriers for Risk Exchange as strong growth continues

Accelerant already has half a dozen carriers supporting its newly launched Risk Exchange in the US, UK and Europe with further inbound interest drawn by the access it will provide to the portfolio of SME commercial business written by the insurtech platform’s MGA members, Program Manager understands.

MGAs: Agents of disruptive innovation

“Disruptive innovation” was the phrase coined by the academic Clayton Christensen to describe how new entrants can displace incumbents in a competitive marketplace.

Booming MGA market is at a technology cross-roads

MGAs have a once-in-a-generation opportunity to carve out a larger role in the insurance value chain. But most of them still have to raise their game in exploiting technology.