Brokers warn insurers they risk losing more business to MGAs

Mainstream insurers need to heed the lessons of the post pandemic decline in service or face losing more market share to managing general agents.

That was among the conclusions during the MGA Customer View – A Broker Perspective session at yesterday’s Managing General Agents’ Association conference at Old Billingsgate in London.

Clear Group director of London/head office Nick Smallcorn said: “We are definitely using [MGAs] more; if you look at the appetite since Covid insurers are under pressure from their stakeholders. [They] looked at what they are underwriting, trimmed back and generally become risk adverse. And we’re finding that