How specialist incubators are helping fuel MGA growth
The managing general agent sector is booming, creating increased demand for specialists who can help set up would-be MGAs. Edward Murray explores this world of ‘incubators’, and highlights how they can help fledging businesses.
Speed to market is an important consideration for any MGA. If they take too long, a competitor might steal a march on their plans and plug the gap in the market they were planning to exploit.
And the longer an MGA takes to start trading, the longer it has to sustain itself financially without any income. Set-up costs are considerable, and many fledgling MGAs face the threat of running out of money before they have even opened their doors to clients.
Writing the first risk and getting gross written
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