Sponsored content: Steve Davis, regional manager for the midlands and south west at Dual UK, discusses the benefits and advantages of the MGA model for brokers
MGAs have carved out a unique and influential role in the ever-evolving landscape of general insurance.
Known for their agility, sector expertise and entrepreneurial spirit, MGAs are increasingly recognised not just for underwriting prowess, but for their unwavering commitment to service excellence. I believe this fusion of service and innovation is what sets MGAs apart and makes them indispensable partners for brokers and clients alike.
MGAs operate with leaner structures and greater autonomy, allowing them to respond swiftly to market demands and client needs. This agility is not just operational – it’s cultural.
MGAs are built by individuals who see opportunities in underserved markets, who innovate to solve complex problems and who prioritise relationships over transactions.
Since joining Dual, I have witnessed this firsthand with the upcoming launch of our commercial combined product. We’ve built this product to give our broker partners what they’ve been asking for – fast, responsive service for small and medium sized businesses that need just as much expertise, with an underwriter first approach.
Tailored solutions
In the Insurance Times Broker Survey 2024, brokers working with MGAs cited the accessibility of underwriters, the speed of decision-making and the willingness to tailor solutions as key differentiators.
This means being responsive, transparent and proactive is crucial, especially in a competitive market.
One of the most compelling aspects of MGAs is their ability to specialise. By focusing on specific trade sectors, MGAs develop a depth of knowledge and immerse themselves in the nuances of target industries.
This sector specialism enables them to craft bespoke products, anticipate emerging risks and provide underwriting decisions that are both informed and innovative. A tailored approach, with targeted products and wordings, rather than a one size fits all approach, gives better customer outcomes.
The management structures within MGAs support their service-first philosophy. With clear lines of accountability and defined escalation pathways from underwriting or claims decisions.
This transparency builds trust and reinforces the MGA’s role as credible and reliable in the insurance market. Central to our strategy is a regional presence, to bring Dual closer to our brokers and cement those relationships and escalation routes. This focus is to ensure that any issues are addressed promptly and professionally.
Enhanced understanding
MGAs also engage with industry bodies, attend trade events and maintain active dialogue with brokers, clients and capacity providers. The result is a feedback loop that continuously enhances the understanding of customers and ensures that this learning is fed quickly into the propositions that are taken to market.
At Dual, our ambition is to be the go-to market in the specialisms we trade in. We’ve traded in the UK market for over 20 years and remain focused on delivering compelling propositions through empowered underwriters to our broker partners. We believe in local trading, so have recently added to our footprint with offices in Manchester and Bristol.
As regional manager in the Midlands and south west, it is my ambition to support our brokers partners’ growth by unlocking the full capability of Dual’s specialisms. This will be enhanced with dedicated underwriters in the regions for our commercial combined product, allowing us to provide access to decision makers and target our technical capabilities at the underserved upper SME and lower mid corporate segment.
