2023/24’s results revealed that a total of 26 MGAs met the report’s threshold to be awarded a star rating by their UK-based broker partners
The findings of 2023/24’s Five Star Rating Report: MGA market – including broker feedback and online rating tables – are now fully available, exclusively from Insurance Times.
A total of 1,850 brokers provided feedback for the report, which this year has enhanced insights available through Insurance Times’ microsite.
The report investigated brokers’ opinions, attitudes and levels of satisfaction with the services they receive from their MGA partners.
2023/24’s results revealed that a total of 26 MGAs met the report’s threshold to be awarded a star rating by their UK-based broker partners.
The MGAs that attained the maximum five star accolade from brokers were EUNA, MPR Underwriting, Renovation Underwriting, Lorega, KGM Underwriting, DOA Underwriting, Nexus Underwriting and Manchester Underwriting Management.
Out of the remaining 18 MGAs, brokers awarded 10 an overall four star rating, seven received a three star score and one was awarded one star by their broker partners.
Insurance Times’ head of research Savan Shah said: ”MGAs play a pivotal part in the insurance market and have been even more integral over the last 12 months of business activity. Their services, products and support have been so essential to brokers over the last year – maybe more so than ever before.”
Shah added that the report would help brokers justify their selection of MGAs to clients, allow MGAs to benchmark themselves on service and support MGAs to improve their overall proposition.
He said: “A big thank you to all the brokers across the nation that came forward to participate in the survey – your views and feedback will surely steer the MGA market through challenging times over the next year.”
As well as a summary of the ratings and trends within the MGA space, topics the microsite and report covers include broker concerns, capacity arrangement concerns, broker perceptions on the future of MGAs and additional material MGAs can provide brokers.
For MGAs, insurers and other organisations wanting to receive advanced in-depth analysis of the MGA survey, the MGA Data Insight Book can be acquired by emailing Aisha Roberts at Aisha.firstname.lastname@example.org.
You can view the results and broker feedback on a particular MGA below: