With the MGAA Annual Conference 2023 approaching, a recent article by the Insurance Business UK titled "The Best MGA in Insurance in the UK | Brokers on MGAs 2023" delved into the crucial role of Managing General Agents (MGAs) in the UK insurance industry.
With more than 300 MGAs placing over 10% of the country's £47bn in general insurance premiums, their importance in the sector cannot be overstated.
One key takeaway from the report is the growing significance of technology and automation in creating value-added intermediaries. Given the tried, tested and trusted technology solutions VIPR have to offer to the market since 2009, it’s a fitting topic that reflects our core values and mission. Modern MGAs and brokers are leveraging cutting-edge solutions to drive operational efficiency, maximise value and stay competitive in the ever evolving insurance market.
Douglas Brown, Renovation Underwriter, was quoted in the report saying, "Buying the right thing is always cheaper than buying the wrong thing twice." This sentiment aligns perfectly with our philosophy at VIPR, where we strive to offer optimal solutions to top carriers, brokers, and MGAs across seven global markets.
Additionally, Marco Del Carlo, CEO of Capacity Place, emphasised that "Technology plays a key role in the new MGA market, because the capacity providers can get better and more immediate information, they analyse and manage exposures better and oversee their books better."
Harnessing the Power of VIPR Insights
Recognising this growing dependency on technology in the insurance industry completely aligns with the VIPR Insights platform. Many of our customers have already integrated VIPR Insights into their operations, gaining the ability to transform complex data into actionable insights.
VIPR Insights is a powerful data management tool built to give insurers, brokers and MGA’s a holistic, granular view of their data. By utilising advanced technology, it allows MGAs and brokers to improve decision-making, enhance customer service, streamline operations, and ultimately, drive profitability. From understanding risk exposure to tracking policy performance and analysing claims trends, VIPR Insights offers a comprehensive solution to the industry's need for smart data management and data driven strategies.
Connect With Us
Book a demo of VIPR's Award Winner VIPR Insights platform, where we'll showcase the multitude of ways VIPR Insights can improve your operations. Alternatively, join us at this year's MGAA Annual Conference, July 6th at STAND 13, ready to say hello and answer any questions you may have.
MGA’s - are you ready to unlock the power of your data? We're excited to connect with you and show you how it’s all possible.