News analysis: Cost the main barrier to MGAs digitally trading
Cost is the number one barrier to managing general agents offering more digitally traded products, which is a vital route for firms going forward.
Those are the thoughts of Laura Hancock, managing director of Yutree.
She added: “It [cost] has prohibited many from doing it in the past. You’ve got to be really sure on your return on investment. If you’re on a big system like Acturis for example, building an e-trade facility can get into the hundreds of thousands, so it’s a really expensive journey to go on.”
Hancock highlighted a number of brokers who embarked on the underwriting business journey and spent the money, but have had to stop due
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