The MGA Executive Role: People
Updated: Oct 20, 2020
This is the third in a series of blogs containing excerpts from my forthcoming publication, 'The MGA Book'.
The next few blogs will focus on the role of the CEO in an MGA. Starting with people.
The Executive Role: People
An MGA needs good people. People that you as the CEO can trust.
There are key roles that need to be managed:
Sales and distribution
A small startup MGA may see the CEO equivalent take the role of underwriter and sales/distribution. Supported by an operations person who will also manage the finances, with the support of an able bookkeeper.
As your MGA grows, these roles will become individual roles, and eventually teams. To get started, any capacity provider will need to believe in the feasibility of underwriting success.
You’re the CEO and most likely founder of your MGA.
One of your key roles is setting the strategy for your business. You need to be constantly thinking about your goals: long, medium and short term.
You need to delegate, and you need confidence to carry through with difficult decisions.
As CEO, delegate everything you can.
But don't delegate ownership and responsibility for capacity management and performance.
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The author, David Hughes, is founder and CEO of the Insurance Data & Analytics consulting business mulberryrisk.com