Business and Technology Trends: Property/Casualty MGAs
Commercial lines insurers are courting MGA relationships and the premium lift they can offer with limited technology or underwriting investment
Boston, MA (May 3, 2023) – MGAs allow insurers to take advantage of niche market expertise to expand their distribution and grow their business without building the necessary infrastructure. MGA business (measured in premiums) is growing faster than the overall property/casualty industry. A recent development is the emergence of digital MGAs that use technology for lower costs and improved efficiency.
A new report from Aite-Novarica Group provides an overview of MGA business and technology issues, data about the marketplace, and more than 10 examples of recent insurer technology investments. It draws from the expertise of Aite-Novarica Group’s experts, conversations with Aite-Novarica Group clients and Insurance Technology Research Council members, and a review of secondary published sources.
This report mentions All Trans Risk Solutions LLC, Ambac Financial Group Inc., Ambridge Group, AmTrust Financial Services Inc., Amynta Group, Arthur J. Gallagher & Co., At-Bay, Attune, Avinew, Beat Capital, Brit Ltd., BriteCore, Cake, Catapult Insurance Solutions Inc., Coalition, Contractor Managing General Insurance Agency Inc., Corvus Insurance, Coterie, CoverTree, Delos Insurance Solutions, DRC, Evergreen Insurance Managers Inc., Exavalu, Falcon Risk Holdings, Focus Technologies, FutureProof Technologies, G.A. Mavon & Company, Glatfelter Insurance Group, Guidewire, The Hartford, Hippo, Instanda, Insurity, Jencap Group LLC, Johnson & Johnson, Kalepa, Kalepa Insurance Services, Loadsure, Majesco, Next Insurance, NIP Group, NSM Insurance Group, OneShield, Openly, Opterrix, Origami Risk, Pie Insurance, Pinnacol Assurance, Pitney Bowes, Pro MGA Global Solutions, RB Jones, Resilience, Risk Placement Services Inc., SageSure, Salus Workers’ Compensation LLC, ShoreOne, Sirius America Insurance Company, Skyward Specialty Insurance Group, Socotra, Specialty Program Group LLC, Spinnaker Insurance Company, Tejas American General Agency LLC, Two Sigma Insurance Quantified, Vertafore, White Mountains Insurance Group, and Xceedance.
Clients of Aite-Novarica Group’s Property & Casualty service can download this report.
Click here to access the report or download the table of contents.
About Aite-Novarica Group
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. For more information, visit aite-novarica.com.
Source: Aite-Novarica Group
