Staying Competitive in Today’s Insurance Environment
In today’s rapidly evolving insurance landscape, Managing General Agents (MGAs) must continuously update their knowledge and adapt to new risks to remain competitive. The Managing General Agents Association (MGAA) is committed to supporting its members through cutting-edge training and development programs focused on key industry challenges.
The Evolving Challenges for MGAs
MGAs face a complex operating environment characterized by regulatory changes, emerging risk exposures, technological disruption, and cultural transformation. To address these challenges, the MGAA works closely with expert partners to deliver actionable insights that go beyond surface-level training. The appointment of Alison Cairns as MGAA Learning & Development Manager has been instrumental in developing a tailored training schedule for members.
Recent Key Developments
Recent training sessions have highlighted critical areas shaping the future of the MGA sector:
- DE&I Developments: Building on the latest FCA guidance (CP23/20), a session led by Nikki Bennett of UKGI and Searchlight Training focused on creating evidence-based Diversity, Equity, and Inclusion (DE&I) strategies at the board level. The discussion emphasized integrating DE&I into governance structures to drive better decision-making and strengthen risk management.
- D&O Exposure: In collaboration with WTW and Clyde & Co, the MGAA examined the findings of a global Directors’ and Officers’ (D&O) survey. The discussion covered emerging risks such as insolvency threats and class actions, with James Cooper of Clyde & Co providing expert insights into preparing for these challenges.
- Embedding AI in Insurance: Karen Stanford of GreenKite Associates led a session on harnessing Artificial Intelligence (AI) while maintaining control over data, systems, and ethical obligations. The discussion explored both the operational benefits and legal frameworks governing AI adoption, such as DORA and GDPR.
The Importance of Continuous Learning
These examples illustrate the broad and rapidly evolving learning landscape that MGAs must navigate. As regulatory environments change, technology advances, and cultural expectations shift, there is no one-size-fits-all approach. Continuous learning and the ability to apply that knowledge are what differentiate high-performing MGAs.
The MGAA is committed to supporting its members with expert-led sessions, up-to-date insights, and a collaborative platform for knowledge sharing. The focus extends beyond awareness to translating insights into practical steps that drive change. By sharing best practices and real-world experiences across the MGA community, the MGAA helps turn insights into action, enhancing governance, operational resilience, and strategic agility across the sector.
As the insurance landscape continues to evolve, the MGAA remains dedicated to providing relevant training and development opportunities. The organization’s approach ensures that its members are equipped to navigate the challenges and opportunities of the modern insurance environment effectively.
