The MGAA 2025 Conference was focused on the theme of ‘navigating a bright future’. We were excited to bring our decades of specialist insurance claims expertise to the conversation, with our speciality & complex risk team taking the lead.

Discussions at the conference explored the biggest challenges and opportunities facing MGAs today. From AI driven underwriting to cyber risk and regulatory change, the conversations were forward-looking and frank.

As an exhibitor, we were able to showcase our specialisms and the innovative technology we’re known for across the insurance industry with a particular focus on our new cyber security offering and cutting-edge predictive analytics tool.

We have a deep understanding of how claims experience can define customer and supplier relationships, insurer reputations and ultimately business success and here are a few key themes that stood out at the event.

 

1. The MGA market is growing fast

The MGA sector has grown beyond being a niche player and is now driving growth and innovation, especially in speciality insurance areas like climate-related risks, parametric products and technology focused coverage. In today’s environment of economic uncertainty and increasing regulatory demands, the agility and specialised focus of MGAs provide a clear competitive advantage.

 

2. AI and data are changing how we underwrite

Artificial intelligence is increasingly integrated into underwriting workflows, particularly within property and cyber insurance lines. AI tools enhance decision making and operational efficiency. Both MGAs and insurers recognise the importance of leveraging AI and advanced analytics, in addition to human judgement, to improve risk assessment and portfolio performance.

 

3. Cyber risks and AI are big concerns

Discussions consistently highlighted AI’s role in both expanding capabilities and increasing cyber vulnerabilities. This duality underlines the critical importance of building robust cyber resilience measures. MGAs can play a key role in helping clients strengthen defences, improve underwriting outcomes and manage risk. Craig Kennedy leads our cyber consulting team, providing specialist cyber insights and practical legal solutions to help MGAs, insurers and brokers navigate the evolving risks with confidence.

 

4. Insurers are giving more support to MGAs

There’s a notable trend of insurers increasing the amount of capacity they allocate to MGAs, with many planning further growth over the coming years. However, claims management remains an area for improvement, where there is scope for strategic value to be added through specialist legal and operational insights as well as innovative technology. The significant experience and legal skills of HF and innovative technology of HighFive have a major part to play in helping MGAs, insurers and brokers to improve their claims processes and experience and strengthen their market proposition.

 

5. MGAs are expanding into new areas

The MGA market is actively expanding into newer insurance lines including parametric and climate related products, as well as exploring growth opportunities in less saturated geographic markets, particularly across Europe. This strategic expansion is supported by increased investment and acquisition activity.

 

6. Rules and regulations are changing

Regulatory changes are both a challenge and a motivator for the MGA sector. Key upcoming regulatory updates focus on non-financial misconduct, transparency of commissions, and clearer distinctions between B2B and consumer insurance products. The market is also moving toward a more principles based regulatory approach.

 

7. Mergers and acquisitions are slowing but will pick up

While insurance mergers and acquisitions experienced a slowdown in 2024, the MGA sector continued to attract investment and expects to see renewed M&A activity, particularly in speciality markets and excess & surplus lines.

 

8. Balancing technology with personal service

The rise of automation and AI prompts an important question about the future of client relationships. The prevailing view is that the most effective model blends technology driven efficiency with the personal touch that builds trust.

 

9. New leaders are driving change

Next generation leaders within the MGA space are actively pushing innovation boundaries, leveraging AI, data, and cyber expertise to transform underwriting and product offerings. MGAs are evolving into strategic innovators that shape insurer portfolios and market dynamics.

As the MGA sector continues to evolve, it’s clear that innovation, adaptability, and resilience will define the next phase of growth. From tackling emerging cyber risks to embracing the potential of AI and data, MGAs have a unique opportunity to lead the way. In a softening market, MGAs have the ability, through their flexibility, to help insurers maximise capital utilisation.

As MGAA members and skilled long-term partners of MGAs and general insurers, we are continuing to adapt our strategic support and innovative technology in line with the needs of the industry.

For advice and insight from our specialist legal experts including the speciality & complex risk team, cyber consulting experts, claims and casualty lawyers, contact: Jennette Newman, Gordon Walker, Imogen Mitchell-Webb, Peter Olymbios, Paul Cha, Simon Forster, Craig Kennedy.