Business and Technology Trends, 2023: Property/Casualty MGAs

Commercial lines insurers are courting MGA relationships and the premium lift they can offer with limited technology or underwriting investment.

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.

This report 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.

Clients of Aite-Novarica Group’s Property & Casualty service can download this report.

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.

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