FIVE-STAR MGAs
Claims support wasn’t a top concern for brokers this year; just 30% named it as one of their highest priorities when considering an MGA partner, up slightly from 27% last year.
Brokers rated MGAs’ performance in claims support at an average score of 7.76, putting it in sixth place out of all categories. That’s down slightly from 2018, when brokers awarded MGAs an average score of 8.00 out of 10 in the category. However, more MGAs received top marks this year: 17 earned five-star status, compared to last year’s 13.
Respondents’ biggest concern when it comes to claims is, once again, response time. Brokers want their MGAs to stay on top of claims and respond to questions in a timely manner; one broker praised their MGA for its “prompt claims response to any inquiries and knowledgeable claims adjusters.”
Other brokers, however, said their MGAs needed to work on making “quicker claim payments” and “close the claim faster.”
