Majesco’s report spotlights MGAs’ growing market influence and warns that future success hinges on next-gen cloud core, data, and AI investment.

Majesco, the insurance industry’s foremost innovator in cloud-native, AI-driven software, today announced the release of the second annual MGA research, MGA’s Strong Growth and Growing Role in the Insurance Market: Strategic Priorities 2025. The report underscores how MGAs are fortifying their role in the insurance ecosystem by offering insurers, reinsurers, and investors a unique combination of speed, specialization, scalable and profitable opportunity.

MGAs’ specialized focus, speed and innovation create a unique “petri dish” for experimentation and innovation that fuels growth and meets new risk demands. This includes new products, distribution channels, and underwriting capabilities with a next-gen operational and technology foundation that easily responds to market conditions, offers speed to market for new products, elevates their underwriting expertise, and enables MGAs to attract top talent to drive growth.

"The MGA sector is a diverse, growing area of the P&C insurance segment, from established MGAs to startups, affiliated to non-affiliated, that offer a wide spectrum of products from traditional to niche-focused, aligned to a new era of risk and customer needs,” said Denise Garth, Chief Strategy Officer at Majesco. “Increasingly, MGAs ability to effectively drive growth is based on their technology foundation, one that increasingly is based on next-gen intelligent solutions leveraging advanced technologies like Cloud, AI, GenAI, Agentic AI and APIs to drive efficiencies and real business results.”

Despite their momentum, MGAs are lagging in replacing their legacy solutions, putting them at a disadvantage to new MGA startups leveraging next-gen intelligent solutions and running the risk of limiting their future growth and operational effectiveness. In addition, while MGAs have used data and analytics for underwriting, they are behind in the use of GenAI and Agentic AI for operational efficiencies, particularly as compared to insurers. As a segment steeped in innovation, AI can be the innovation catalyst needed to help MGAs stay ahead of market trends and technological shifts, allowing them to constantly rethink the business model for a new era of insurance.

To remain competitive and relevant, MGAs must adapt and change. If you find you are lacking in focus or priorities, make a course correction so that you are prepared as we continue down a path of accelerated change and opportunity.

For more details, download MGA’s Strong Growth and Growing Role in the Insurance Market: Strategic Priorities 2025 on the Majesco website or by emailing info@majesco.com.

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