MGAA Conference 2023 post

Interviews The Sponsors Main Event Videos The Gallery The Awards

We were delighted to welcome over 1,000 delegates to our new venue of Old Billingsgate for the 2023 MGAA Annual Conference.

On the day delegates were treated to expert panel discussions, varied and interesting break-out sessions including one from the MGAA Next Gen group, whilst during the day engaging with over 100 of our valued supplier members.

Reflecting on the main auditorium sessions, we would highlight the areas below.

The soft market is not inevitable and there is cause for optimism that sensible underwriting and pricing will prevail. However, it was clear that this remains a perilous position and the threat of soft market conditions will never be far away. The panel could not be clearer in that timely and regular communication between all stakeholders must underpin disciplined underwriting over the next few months and into 2024.

Within the regulatory session, which covered several key areas, the importance of MGAs having financial resilience to service customers either in a run-off or seeking new capital was paramount to Matt and the FCA. We will be scheduling further market briefings to ensure members are aware of their obligations in this area shortly, so please look out for the date.

The increasing value of MGAs to the Broker community was ably illustrated by our Broker panel with service, access to decision makers and innovative product availability all referenced as competitive advantages compared to traditional markets. Retaining, and building on this position is clearly the way forward.

Finally, the claims session again showed that this is our shop window, customers are struggling with inflation and increase in fraud has naturally followed. Effective communication and placing the customer at the heart of everything we do is just one key message which has to be embraced without question.

We look forward to seeing you again next year!!!