MGAs ‘extremely focused’ on broker distribution in softening market - Keating
MGAs are “extremely focused” on distribution, according to Mike Keating, CEO of the Managing General Agents’ Association, as he also outlined how the claims process needs to be deconstructed and put back together.
MGAs have the ability and the agility to change their distribution optics far quicker than the major insurers, he said.
“One of the key things is that the management information MGAs have around their broker distribution, I would suggest, probably far exceeds what exists between the insurers and their distribution. The MGAs will have a real understanding of the broker’s portfolio – they’ll understand their quote rate, their conversion rate, their decline rate.”
Like in any relationship, MGAs
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