MGAA to survey members on two-year plan as trade body reaches 200 milestone

Keating, pictured, took up the post in September 2020 and conducted a similar exercise to build his initial three-year programme.

The results of the comprehensive survey are expected in late June to early July this year, at which point the MGAA will take the necessary time to distill the messages and create the route forward.

“The strategy will be underpinned by the membership research.

“I did that when I took the role three years ago. We took the feedback from the members and did everything we were asked to do,” Keating said.

“I feel that, quite rightly, three years on, we do it again especially with our bigger membership base. My responsibility is to deploy members’ money on what members want,” he added.

Milestone

Speaking to Insurance Age at the British Insurance Brokers’ Association’s 2023 conference in Manchester this week, Keating revealed that the MGAA had gone past the 200 full members milestone with 205 now on board.

We are a very grown-up organisation, and are going great, which underpins the importance of the MGA space and community.

Mike Keating

In March, the figure stood at 196 when Keating forecast reaching the achievement within months.

“They control £7.3bn of premium,” he noted.

The MGAA also now has 55 insurer members and 112 supplier members.

“We are a very grown-up organisation, and are going great, which underpins the importance of the MGA space and community,” Keating observed.

Ireland

In October 2021, the trade body signed up its first member in the Republic of Ireland.

The total has now grown to 15 MGAs, Keating updated.

“We have also got three insurers who have joined us in Ireland. I expect another two insurers to join us over the next three weeks,” Keating said, and added that there were no plans to go elsewhere in Europe.

“We need to be delivering a service to the membership as opposed to looking across the horizon,” he said.

Pipeline

Having passed the 200 mark, Keating declined to set a future target. In his view, there are 350-380 “bona fide MGAs” in the UK and Ireland.

He concluded: “We have a pipeline of members that we are constantly talking to, but what I am really focused on is ensuring that we are delivering a premier service to existing members.”

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