An Underwriters Guide to navigating the soft market & when it will end …

The soft market presents a very different set of challenges for underwriters and MGAs – when will it end? As competition increases, rates come under pressure and opportunities become harder to differentiate, maintaining underwriting discipline and protecting profitability become increasingly important.

But how long could the current soft market last, and what does success look like for the MGA community as the market moves through this cycle? Gary Head, CUO will explore the current landscape across the US, UK and Europe, looking at the factors driving the soft market and what businesses can do to remain resilient and profitable.

Let’s focus on the practical realities of navigating a soft market — from understanding where profit really comes from and identifying opportunities to upsell and cross-sell, to making brave decisions, planning for reality and ensuring the right risks are written in the right way. No matter what happens the sun will come up in the morning…

• Describe the causes of the soft market and give a view as to how long it will last before rates stabilise and then ultimately harden
• Summarise what the MGA Community need to do through this soft period of the market to avoid undermining all of the hard work that has been done over the past 15+ years to build the greatly improved reputation of the sector
• Explain some soft market Underwriting tactics to increase your chances of successfully navigating and thriving through this soft phase
• Define what success looks like for the MGA market through this period