- Author(s):
- Mark A. Breading, Partner
- Thad DeBerry, Partner
- Publication Date:
- April 28, 2023
- Number of Pages:
- 18
- Price:
- $1,995.00 USD
The MGA and MGU landscape is growing rapidly as the distribution evolution continues across the insurance ecosystem. And investing in new technologies is one way MGAs are solidifying their position in the channel environment.
This research report details MGAs' current and future plans for distribution technologies. It examines the top business drivers influencing investments, challenges when implementing and offering new technology solutions, and MGAs’ satisfaction with their digital offerings to agencies. The report also analyzes MGAs’ tech investment plans for eighteen digital sales and seventeen digital servicing capabilities, as well as how their priorities compare to agencies and insurers. The report ends with our recommendations on how MGAs can expand partnerships and grow their market share.
Table of Contents
- Distribution Evolution for MGAs and MGUs 3
- Business Drivers for Tech Investment 5
- Biggest Challenges for Investing in Distribution Solutions 7
- Technology and Business/Cultural Barriers
- Agency Challenges When Adopting MGA Tech Solutions
- Challenges That Inhibit Right-Fit Submissions
- Digital Offerings to Agencies 9
- Digital Offerings for Sales
- Digital Offerings for Servicing
- Tech Investment for Distribution 12
- Tech Investment Plans for Digital Sales Capabilities
- Tech Investment Plans for Digital Servicing Capabilities
- Tech Investment Plans for Distribution Management
- SMA Call to Action 17
- About Strategy Meets Action 18
- Use of Our Reports
- About the Authors