Majesco: Unlocking MGA Growth Momentum: Insights and Priorities to Compete and Thrive

Unlocking MGA Growth Momentum: Insights and Priorities to Compete and Thrive

For Leonardo da Vinci, art and science were not separate spheres. Excellence in art and science was a matter of observation and application of the physical principles of nature and life. DaVinci’s observations led him to unlock many truths about how the physical world operates. These observations gave him ideas for how people could derive utility from understanding. The new knowledge could transform real-world attributes into functional tools and machines to conquer real-world issues.

To uncover the world’s mysteries, Da Vinci placed himself in locations where he could observe, record and consider the meaning of what he found. Did it have a practical use? In a way, this is the same methodology used by today’s MGAs and the insurers that value MGA ingenuity. MGAs are in the right space at the right time to observe and act.

Most insurance companies can’t be everywhere at once. They can’t observe every segment in the industry. They aren’t always privy to where there is value and risk, or where new technologies might be applied.

MGAs, however, live it, breathe it, understand it, grow in knowledge of the new risks, and they see the application of insurance and the value that it can bring to underserved markets. This is what gets many of them off the ground — if they can create a profit formula.

Opportunities for MGAs, Insurers and Partners

MGA growth is unprecedented. There are now estimated to be more than 1,000 MGAs in the US, and as a group, they have experienced double-digit premium growth in the last four consecutive years. Majesco is at the forefront of MGA technology innovations, helping to facilitate that growth by modernizing MGA and insurer platforms so that they can reach new markets. In our recent thought-leadership report based on primary research with MGAs, MGAs’ Strong Growth and Growing Role in the Insurance Market: Strategic Priorities 2025, we compared MGAs and Insurers and we looked at MGA strategic priorities year-over-year.

I asked David Gritz, Co-Founder and Managing Director at InsurTech NY to join me, Denise Garth, Chief Strategy Officer at Majesco, in a webinar discussion and analysis of the research. David’s unique place in our industry allows him to get an excellent view into MGA motivations, operations and technology trends.

Together we covered:

• The State of the MGA market

• Operational Priorities for MGAs vs. Insurers

• Technology Foundation: MGAs vs. Insurers

• Implications and Recommendations based on findings and experience

Read the entire blog at Unlocking MGA Growth Momentum: Insights and Priorities to Compete and Thrive.