A recent poll conducted by Root Platform, an API-first, end-to-end insurance technology provider, found that 50% of managing general agents (MGAs) are still at the very beginning of their digital and API transformation journeys.
The results, taken during a Managing General Agents’ Association (MGAA) Market Briefing, reveal a stark divide between fully API-enabled MGAs and those just starting to modernise their technology stacks, according to FF News.
The poll, which asked MGAs to identify where they currently sit on the digital transformation path, showed that 40% of respondents are just getting started, 10% are actively exploring solutions, 20% are already implementing changes, 20% are fully API-enabled, and 10% have not yet included it on their roadmap. The findings highlight the persistent operational challenges many MGAs face, including slow onboarding, fragmented data and costly product updates, which are widely accepted as ‘normal’ across the sector.
Root CEO Charlotte Koep said, “These poll results are a sample of the market, and are representative of the growing demand we are seeing from the MGA sector for conversations around the applications and advantages of an API-first strategy. That’s because APIs have transformed countless industries by enabling seamless, interoperable, real-time digital experiences, and insurance is no different. MGAs are real agents of change for insurance right now – they are market makers and differentiators, experimenting with innovative new products and tech strategies, including the potential of AI. But the foundations of all of this lie with the right API-first tools. This shift isn’t only about technology, it’s about rethinking operations, embracing the agility to test and release new digitally embedded insurance products in weeks not months, and empowering teams to build better, faster and more collaboratively and better showcase their value to their carrier and broker partners.”
Root head of growth UK Oliver Evans said, “From our conversations with MGAs and partners across the UK, it’s clear that many of the industry’s biggest pain points – slow onboarding, fragmented data, expensive product updates – have been accepted as ‘normal’ for far too long. With modular, API-driven infrastructure, these challenges become dramatically easier to solve, and due to their position in the value chain, MGAs are very well placed to respond quickly. The most successful outcomes we see are when great MGA teams work alongside great technology. When that alignment is in place, integrations speed up, product innovation accelerates and entirely new distribution opportunities emerge that simply wouldn’t be possible on legacy systems. The MGAA Market Briefing poll reinforces what we’re hearing every day: the market is ready for this shift, and the MGAs who act now will gain a meaningful competitive advantage.”
The poll also underscores the broader trend in insurance towards API-first platforms as a foundation for innovation, operational agility, and enhanced connectivity between carriers, brokers and MGAs.
Industry observers say that the MGAs who embrace these tools early will be best positioned to respond to evolving market demands and new digital distribution opportunities.
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