Harnessing the power of MGA accelerators to move the industry forward

Accelerators can be cost-effective and help entrepreneurial underwriters pursue their aspirations to launch their own MGAs without the need to immediately staff up for the various back-office support. (Credit: Thitichaya/Adobe Stock)

As technologies develop and geopolitical complexities become more intricate, the need for specialized MGAs has only grown. MGAs write more business in specialty and emerging risk areas where traditional carriers either lack the appetite for the risk or don’t want to invest in building their in-house team of experts. At the same time, MGAs have been an enormous help to agents and brokers looking for markets for specialty, unconventional or other difficult-to-place risks.

Unfortunately, challenges continue to mount, presenting new and more complex obstacles to the growth of new specialty and traditional MGAs in our industry. Barriers to entry are discouraging entrepreneurs from bringing new MGAs to market. This is where MGA accelerators can add value by removing those barriers.