Top 10 MGA Companies – 2024

Emerging tech trends are reshaping the wholesale insurance brokerage and managing general agents (MGA) landscape, fostering growth opportunities. These providers are pivotal in helping businesses and individuals secure essential coverage in a highly regulated, risk-conscious environment.

MGAs are authorized by insurers to underwrite policies, manage claims, and handle risk, offering businesses specialized coverage with flexibility and expertise in niche markets. Wholesale brokers, in contrast, act as intermediaries between retail agents and specialized insurers or MGAs, providing access to complex, often high-risk coverage options. Together, these providers serve businesses and individuals seeking specialized, non-standard insurance solutions or access to markets beyond the scope of standard insurers.

This edition of Insurance Business Review highlights the latest developments in the tech-driven wholesale insurance brokerage and MGA sectors and how companies can leverage their services to secure the right coverage and mitigate risks effectively.

It features thought leadership articles from experts, including Holly Hollenbeck, JD, CRIS, Regional Vice President, Legal and Contracts at Marsh McLennan Agency Southwest. He emphasizes why businesses must assess risks, implement loss control measures and ensure effective communication to reduce the threat of large jury verdicts that can impact their financial stability. Matt Campen, Vice President, Claims, at RLI Insurance Company, highlights how insurance companies use various techniques to analyze social media platforms after disasters, gathering data on damage severity to evaluate claims more effectively.

We hope this edition offers valuable insights to help you find the right partner who provides you with the most suitable coverage options to enhance your services.