Majesco, a provider of cloud-native, AI-driven software for the insurance industry, has released its second annual MGA research report, “MGA’s Strong Growth and Growing Role in the Insurance Market: Strategic Priorities 2025,” detailing how Managing General Agents (MGAs) are strengthening their position by offering speed, specialization, and scalable opportunities within the insurance ecosystem.
The report highlights MGAs’ unique ability to serve as a hub for innovation, driving growth and addressing emerging risk demands through new products, distribution channels, and advanced underwriting capabilities. This is supported by a next-generation operational and technology foundation, enabling rapid market response, speed-to-market for new offerings, enhanced underwriting expertise, and the attraction of top talent.
Denise Garth, Chief Strategy Officer at Majesco, commented on the sector’s evolution, stating, “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.” She further emphasized, “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Despite their momentum, many MGAs are slow to replace outdated legacy systems, potentially hindering future growth and operational effectiveness. The report notes that while MGAs utilize data and analytics for underwriting, their adoption of Generative AI (GenAI) and Agentic AI for operational efficiencies lags behind that of insurers. Majesco suggests that AI can serve as a crucial innovation catalyst, enabling MGAs to stay competitive, anticipate market trends, and continuously refine their business models for the evolving insurance landscape. The report concludes that adaptation and change are essential for MGAs to maintain relevance and competitiveness.
