0:00
How do the MGAs play a role in reducing
0:03
the protection gap across well the the
0:07
Well, they've always had an important
0:09
but that role if you look at the
0:11
buoyancy of the MGA sector both UK,
0:13
Ireland, Europe and internationally is
0:15
growing exponentially absolutely explain
0:17
and what they do it comes back to their
0:19
key underwriting expertise. So where
0:22
that you have and quite like you know
0:23
some some excellent insurers who are
0:26
providing cover to 60 70% of their sort
0:30
of customer base what MGAs are doing and
0:32
continue to expand on is providing
0:35
coverage to areas which are require
0:37
underwriting expertise where there are
0:39
niche and specialists and if you look at
0:41
the market now if you look at cover such
0:43
as for cyber you know cyber is generally
0:46
sort of uh met by MGAs MGAs have deep
0:51
and broad understanding of cyber uh
0:53
requirement parametrics is the is the
0:55
domain of MGAs you know new climate sort
0:59
of change uh environmental products
1:01
these will actually be provided by MGAS
1:03
and why do MGAS provide that because
1:05
they have the underwriting expertise and
1:07
knowledge number one two insurers don't
1:10
feel that they want to build that
1:11
capability themselves and three coming
1:14
back to your original question the MJS
1:17
can provide the program design at the
1:20
right price cuz it's absolutely right
1:22
for for the end customer. So that's
1:24
where they're closing their gap. They
1:26
can also bring products to market far
1:28
quicker than traditional insurers. No,
1:30
they have that innovation, agility,
1:33
speed. They're not caught in a what I
1:35
call the sandwich of legacy systems.
1:37
Yeah. Right. So they've got one system,
1:39
one version of the truth. said their
1:41
speed to market to meet broker customers
1:44
requirements is uh unrivaled.
