MGA Initiative of the Year

This category is designed to recognise the outstanding achievements of the MGA community, a growing force with firms representing 10% of premium income for UKGI.

Judges were looking for MGAs that could demonstrate how they have excelled in delivering an outstanding initiative or delivered an excellent professional underwriting service .

All the finalists are listed below. Use the links to find out more from the entrants who have answered our series of Q&As.

GOLD: Commercial Express
SILVER: Geo Specialty Political Violence
BRONZE: Manchester Underwriting Management
ARAG
Pukka Insure
Q Underwriting


ARAG

What key achievement did your entry highlight?

The successful launch of a new commercial legal protection product for SMEs with the widest cover available in the market. A combination of carefully researched innovation and consultation with brokers serving the sector, created a product that addresses the real needs of smaller businesses and has proved highly popular with both brokers and their clients. In the year after launch, ARAG's Essential Business Legal Protection comfortably exceeded even the most ambitious targets that were set for it and has set a new standard for commercial legal protection.

Can you share data or testimonials to back up your bid to win?

"ARAG's commercial legal protection product has really responded to what brokers and their clients were asking for, but it's the company's willingness to shape cover to suit different market segments that really sets them apart." Chris Wilde, group product development manager, GRP Group.

ARAG

"After speaking with many LEI providers, the decision to work with ARAG was a foregone conclusion not only because of their understanding of the sector but their keenness to craft a product tailor-made to the sector with extensions very relevant to the sector." Rob Adams, underwriting manager - recruitment, Euna Underwriting.

What sets your firm apart from the other shortlisted contenders?

For many years, ARAG has stayed true to a clear strategy for serving business partners and their clients that has enabled the company to stand out in a highly competitive market. The strategy focuses on three key outcomes, innovation, flexibility and service. ARAG's close relationships with brokers provide the insight that enables innovation. In a notoriously inflexible market of one-size-fits-all policies, ARAG adapts products to suit specific client segments' needs. And where service levels were often over-promised and under-delivered, ARAG has reversed a trend that was devaluing legal protection products in the eyes of brokers and their clients.

How will you celebrate if you are the victor?

We might enjoy a drink or two on the night, but will be taking the award straight back to Bristol to present to all the many staff, in various teams across the company, who have contributed to the success that this award recognises.


GOLD: Commercial Express

What key achievement did your entry highlight?

Our elearning platform, CE Learning: Online, is a completely free-to-use insurance training solution for small and medium sized brokers. We are helping to bridge the skills gap in our industry with our large and varied library of courses, covering soft skills, professional development, compliance and technical knowledge. With more than 700 users, four in 10 of whom return for more than an hour every month, we're having a big impact. Our brokers report becoming 'more confident' and providing 'better customer service' as a result of using CE Learning: Online.

Commercial Express

Can you share data or testimonials to back up your bid to win?

In a recent survey, 100% of respondents said they would recommend CE Learning: Online to their peers and colleagues and 100% agreed we have helped them to provide a better service to their customers. We make 'explaining and understanding policies simpler' and help staff to learn things they wouldn't pick up in their day-to-day roles. GWP on new business from our top ten most active brokers has increased by 16%. The conversion rate of our most active broker has risen by 23%, demonstrating how their increased knowledge of our products, and insurance more generally, has improved their performance.

What sets your firm apart from the other shortlisted contenders?

In our mission to become the 'value added MGA', Commercial Express seeks to improve relationships with our customers, drive up standards and offer more besides our range of insurance products. We're adding value to the broker/MGA relationship in a way that benefits everyone involved, right through to the end customer. No other MGA offers this level of support to their brokers and, in this regard, CE Learning: Online is an industry first. Our commitment to bridging the skills gap for not only our own staff, but that of our partners, sets us apart from the rest of the MGA market.

How will you celebrate if you are the victor?

Simply being a finalist for this award is a massive achievement and recognition of the success we have already achieved with our elearning platform. To win would be a massive vote of confidence in CE Learning: Online and we would celebrate by investing more time and energy into the system to improve what is already a market leading proposition.


SILVER: Geo Specialty Political Violence

What key achievement did your entry highlight?

Our ability and commitment to cater for and meet the fast-changing needs of the UK SME market for brokers and their clients. Through our investment in broker education programmes and technology such as a bespoke end-to-end, quote and bind solution and e-trading via Acturis, we have supported over 20,000 UK brokers to be able access Lloyd's capacity and market leading wordings at the click of a button. Clients have benefited from savings on their renewal premiums and enhanced policy wordings.

Can you share data or testimonials to back up your bid to win?

We have saved clients an average of 20% on renewal premiums. We have successfully run five webinars and four seminars with a total attendance of 387 brokers across the UK. Our conversion rate last year was 90%. We have grown from 20 policies in 2017 to over 1,000 policies in 2019 so far.

Geo Specialty Political Violence

What sets your firm apart from the other shortlisted contenders?

The Geo Specialty Political Violence team offer an unrivalled depth of knowledge and a proven track record of being able to quickly adapt to the ever-changing landscape of terrorism. Although a small team, they have dedicated their time to creating resources and educating brokers, to help them to protect their customers and businesses against the increasing risk of political violence acts, by ensuring that they have the right level of cover.

How will you celebrate if you are the victor?

The Geo Specialty Political Violence will be celebrating with a few drinks of fizz at the awards night and will celebrate it internally within our London office.


BRONZE: Manchester Underwriting Management

What key achievement did your entry highlight?

Our initiative relates to our BIBA-accredited brokers' PI product. Where an insurer reserves rights or refuses to pay a claim for a customer of a MUM-insured broker, the broker can get access to legal assistance to help them achieve the right result, before anyone even thinks of claiming against them. We have added further value by providing MUM-insured brokers with presentations on unrated insurers with Litmus Analysis, backed up by a service where brokers can access free advice directly from Litmus. Unrated insurers and difficulty getting insurers to pay claims can be a nightmare for brokers and their customers.

Can you share data or testimonials to back up your bid to win?

"Major impact on our business. Call to action to undertake a review of our Financial Security Policy" June Hibbins, Vista Insurance.

"Better enabled to discuss with brokers the potential implications of unrated/poorly rated insurers." Joe Hopkins, MGB Insurance.

What sets your firm apart from the other shortlisted contenders?

MUM adds real value, serving brokers consistently well and providing excellent claims service. MUM's management has run both brokers and insurers and almost all underwriters have more than 15 years' experience. MUM's CEO remains a non-executive director of an A-rated insurer even now. So MUM is probably unique in that we get what brokers and their customers, and our capacity providers, need. MUM's purpose is to serve our supporting insurers, brokers and customers as they have every right to expect and our culture supports this even to the extent of reducing customers' exposure. And we've consistently made underwriting profits.

Manchester Underwriting Management

How will you celebrate if you are the victor?

With champagne and maybe a cigar or two. Then we'll crack on doing what we do.


Pukka Insure

What key achievement did your entry highlight?

Our rapid growth and evolution. In three years we have evolved every part of our business and become known in the industry for our nonconformal, fast and creative thinking. We have

  • gone from writing on unrated to A rated paper
  • grown our GWP by 790% from YR1
  • proven to our staff and community that they matter via our staff engagement programme, staff profit share and charity work
  • committed to gender equality in pay and diversity and inclusion

Our mission from day one is still the same today – to be the best by being different and always doing the right thing for our customers.

Can you share data or testimonials to back up your bid to win?

"We have worked closely with Pukka Insure since their launch in 2016 starting out with commercial vehicle and more recently private car. Pukka work closely with our experienced underwriters taking on board our recommendations to ensure policy holders are getting the best product at the best price. The MI suite that Pukka have provided to Autonet could be considered best in class and allows us to manage the account at a level we've not previously seen. With commercial vehicle live on the Autonet Hub allowing additional trading access to the wider group, our relationship becomes stronger." Atlanta Group.

What sets your firm apart from the other shortlisted contenders?

We think and act differently. We are honest, transparent, respectful and open minded and expect our staff to be too. We are a disruptive force, bold, successful and innovative. We're nimble and opportunistic – our size and capabilities mean we can move fast. Open and connective tech and data platform enables fast adoption of leading-edge solutions and partnership with technology entrants to disrupt and improve the market. We are a female-founded business with a strong and diverse team having a positive social impact on customers, our team and community.

How will you celebrate if you are the victor?

Other than the usual announcements on social media and print media we will celebrate with a team dinner and all contribute towards our chosen charities in name of winning the award. As well as this I am sure a few biscuits and sweets will be bought in the office. We would honestly be chuffed if we won. Thank you.


Q Underwriting

What key achievement did your entry highlight?

We increased broker access and insurer distribution by bringing together three MGAs, and launching one new MGA, under the Q Underwriting legal and regulated entity, all covered by a common TOBA.

Can you share data or testimonials to back up your bid to win?

The launch of Q Underwriting increased insurers' distribution to brokers by an average of 799 brokers per carrier; increased product access by an average of 17 per broker and has demonstrated success by generating an additional £1.65m in premium (forecast).

What sets your firm apart from the other shortlisted contenders?

We are a brand-new business, but one which is full of history and expertise. Our first activity, before even forming, was a huge legal and regulatory initiative (the launch of Q Underwriting). As soon as we launched, we began an ambitious replatforming project (a new underwriting platform and a single broker portal – Qtrade – which has already gone live). We're not going to stop here, as we're the home for future MGA acquisitions and already have two scheduled to join us in 2020.

How will you celebrate if you are the victor?

We'll celebrate alongside our broker and insurer partners; both these groups have been with us throughout – since we started planning for this initiative in early 2018 – and have been able to benefit from the launch of Q Underwriting. It's a joint success and one we'll celebrate together!