077: Capacity is Key with Michael Keating - MGAA

<p>Are you concerned about the hardening of capacity? Would you like to develop current or new relationships with MGAs or insurers?</p> <p>In this episode, we’re thrilled to be speaking with Michael Keating, CEO of the Managing General Agents’ Association, about the upcoming MGAA Capacity Exchange. The event is being held at the Hilton DoubleTree in London, on September 14th. As one of the MGAA’s flagship annual events, it offers a fantastic opportunity for MGAs and insurers alike to meet, and extend pre-existing relationships or enable new ones to flourish.</p> <p> </p> <p>Quote of the Episode</p> <p>“Any MGA will always tell you that capacity is the number one key pillar that their business is centred round. Frankly, if you haven't got capacity as an MGA, you have no business. So, it cannot be any more important than that.”</p> <p>Capacity, for Michael Keating, is the most fundamental element of any MGA. As such, the importance of forming partnerships around capacity cannot be understated, and thus the opportunity afforded by the MGAA Capacity Exchange should not be turned down. In a period where capacity is hardening exponentially, such relationships can be extremely productive for both insurers and MGAs.</p> <p> </p> <p>Key Takeaways</p> <p>The MGAA Capacity Exchange invites insurers to exhibit and MGAs to attend, in a speed-dating-style environment. MGAs are enabled to speak to different insurers, and engage in productive conversations about their risk appetites, current market trends, and opportunities to partner up going forward. As such, it gives a great opportunity for MGAs to re-engage with insurers they already know and to discuss ideas and potential partnerships with insurers they aren’t yet familiar with.</p> <p>Similarly, insurers are enabled to converse with MGAs they may not have had contact with previously, to better understand their product lines, business model and strategy, thereby enhancing networking in the MGA community as a whole.</p> <p>Face-to-face contact is utterly essential in the ins