ILC ARTICLE

Key business lines to come under MGA spotlight

26th July 2023

ILC’s MGA Claims Conference, in association with the Managing General Agents’ Association (MGAA), is set to unravel the stories behind three key lines of insurance business.

Taking place on 28 September at 155 Bishopsgate, London the event – supported by Gold Sponsors: Carpenters Group, Claims Consortium Group, Enterprise, Pulse and Wiser Academy; Silver Sponsor: EDAM Group; and Enhanced Exhibitors: Alphatec Ltd, Caysure Digital, Clearway, CRIF Decision Solutions Ltd, Richfords Fire and Flood, and Synetics Solutions; and Exhibitors: Accident Credit Group, Broker Direct plc, DAC Beachcroft Claims Ltd, and Qdos Assistance – will explore how MGA activity is evolving in motor; home and property; and employers liability and public liability (EL/PL) business lines.

With loss ratios under ongoing pressures across all lines of business, the three, dedicated breakout channels will bring attendees up to speed on the multiple market forces impacting the sectors and how each is evolving to effectively manage the challenges.

Insights from Insurance DataLab puts all product lines average loss ratio up at 62% in 2022 compared to 57% in 2021. Meanwhile, motor showed an uplift of 13% to a 77% average loss ratio in 2022 while home and property too experienced an uplift from 54% in 2021 to 60% in 2022.

Sue Whyte, Chief Business Officer at ILC and MGA lead, said, “Without doubt the market is challenging and the data shows the loss ratios continue to track in the wrong direction. The MGA sector has a tremendous opportunity to showcase its value within the claims market and this event will bring those innovative solutions and leading thinking to life. It’s an opportunity for the whole industry to openly discuss how it can be ‘better tomorrow’ for the benefit of all.”

To find out more about the opportunities to get involved in the event, click here (see below) or email Jonathan@iloveclaims.com. Special discounts are available to MGAA members.

To find out more click here.