The Insurance Couch Podcast - Should Insurers Work with MGAs? Partnership Advantages and Disadvantages (2/3)

Get Your Insurance Fix on “The Insurance Couch” Podcast!⁠Join Oliver Lang⁠, former CEO of InsurTech Unicorn Wefox/One Insurance, supervisory board member and advisor and ⁠Nikolaus Sühr,⁠ Co-Founder and CEO of InsurTech enabler ⁠⁠⁠⁠⁠⁠⁠⁠KASKO⁠⁠⁠⁠⁠⁠⁠⁠ as they bring you unique insights from their experiences in the insurance world.In this episode they talk about the rise of MGAs across Europe and beyond, why insurers should (or shouldn’t) consider partnering with them, and how different segments of the MGA market create both opportunities and risks for carriers.This episode is the second of our three-part series around the topic of working with MGAs. Here are the key takeaways:Working with MGAs comes with some risks for insurersWhile it’s easier to exit a portfolio when working with MGAs in normal circumstances, worst case is that the MGA ends its operations when the insurer can’t take over due to lack of presence and knowledge. This typically ends in chaos.There’s a fine balance between minimizing the risks of working with MGAs and replicating every MGA step in-house.When starting working with MGAs you should avoid entering lines or regions you don’t know at all.It’s wise to avoid working with unskilled MGA-teams while having limited skills in that line of business yourself.Listen to “The Insurance Couch” to stay tuned for the newest chatter about the industry!#insurance #insuranceindustry #versicherungsbranche #versicherung #versicherer #insurancesales #mga #distributionstrategy