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Insights
MGA

March 25, 2024

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The 2024 Insurtech Insights Europe Conference in London was once again a hive of activity and dynamic discussions - a resounding success, gathering industry leaders, innovators, and stakeholders to explore the challenges, growth opportunities, and exciting future growth trajectory of the insurtech sector. As attendees, we at Pro MGA Global Solutions found the event to be insightful and energising, reaffirming our commitment to supporting our clients and driving meaningful change within the insurance industry. Here are our five key takeaways:

Industry Buzz:

The conference was abuzz with a diverse array of topics discussed by esteemed speakers and panelists. Every session we attended was brimming with attendees, indicating a keen interest and a pressing need within the industry to engage in meaningful conversations around pertinent issues. From discussions on the emerging applications of new technologies like AI and machine learning, to regulatory challenges, the event encapsulated the dynamic landscape of Insurtech.

Networking Dynamism:

The networking room exuded a real energy, bustling with industry professionals eager to forge new connections and explore potential collaborations. It was a testament to the thriving ecosystem of innovation and collaboration driving the Insurtech sector forward. For Pro MGA Global Solutions, it provided a valuable opportunity to engage with key stakeholders, meet with clients, and explore synergies with technology providers to enhance our service offerings.

Evolution of MGAs:

The European MGA sector stands on the cusp of significant growth, offering insurers unparalleled access to local market knowledge and expertise. At Pro MGA Global Solutions, we are witnessing this evolution firsthand, with a record number of MGAs incubated in 2023 and a promising pipeline for 2024. There was strong interest at the event on the growth opportunities we are witnessing, and our perspective on how MGAs can best navigate new opportunities in Europen together with local markets.

Thriving in Turbulence:

Unlike previous market cycles where MGAs struggled amidst instability, they are now emerging as resilient and indispensable players in the insurance ecosystem. By bridging the gap between insurers and local markets, MGAs are not just surviving but thriving, fueling innovation and delivering tailored solutions to meet evolving consumer needs. This maturation of the MGA model was a key topic of conversation with our network at the event.

Accelerating Growth Trajectory:

As we look ahead to 2024, the stage is set for a milestone year of expansion for MGAs in Europe. What’s driving this growth? It’s a combination of factors, including technological advancements, regulatory support, and a shifting market landscape. With our finger on the pulse of industry trends, Pro MGA Global Solutions is poised to leverage these opportunities, empowering MGAs to navigate the complexities of the insurance market with confidence and agility.

Insurtech Insights Europe 2024 served as a catalyst for dialogue, collaboration, and innovation within the insurance industry. As we reflect on the discussions and insights gained, we are excited about the prospects that lie ahead. We look forward to reconvening in 2025 to chart the progress made and continue shaping the future of insurance together.

Thank you to the Insurtech Insights team for an excellent event. We are looking forward to reconvening in 2025!

Find out more about Pro MGA Global Solutions and get in touch with our team.

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