Managing general agents and underwriters occupy a distinct space in the insurance world due to their broad policy oversight and administrative responsibility.
MGAs and MGUs accounted for nearly 90% of total global underwriting revenues in 2022, according to Insuramore. While most of these organization are independent, just under a quarter of them in 2022 were owned by insurance carriers, and a smaller fraction, representing about 10%, were owned by brokerages.
MGAs and MGUs often rely on limited resources while delivering an entire insurance experience, from underwriting to claims resolution. This is where technology solutions such as AI-powered automation can have a far-reaching impact.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson is ALM PropertyCasualty360's Editor in Chief. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
