If you’re an MGA that has been putting off the ‘technology conversation’ for a period of time, then chances are you’ve reached a tipping point already: either you embrace digital innovation and scale your business with a more sustainable ecosystem, or accept that any growth plans for the near future are likely to be ambitious at best, and ill-advised at worst.
Should you find yourself in this position, you’ll be glad to hear that the Insurtech scene is thriving now more than ever, meaning that you won’t be short of options to take your business to the next level. European insurtech funding reached an all-time high in 2021 with around €2.5 billion invested through 92 deals, and in the UK, insurtech companies received total investments of £262 million which is a rise of more than 60% since 2019.
In this article we will outline what exactly a ‘tipping point’ is for MGAs, and how to overcome the challenges you may be facing as your business grows, so that you can find the best possible insurtech solution.
