John Weber with A.M. BestTV recently met up with SRIM’s CEO and President, Mark Woodall at the 2016 AAMGA to discuss MGA in Canada.
MGA play a key role in Canada’s insurance marketplace and the placement of specialty line risks. Though the concept is relatively newer in Canada than in the USA both operate relatively similarly. Both are also seeing an influx of capital from third party sources and prices of MGA are rising due to good return on equity. Innovation is going to be the big differentiator especially as prices drop which means commissions drop and so do revenues. MGA need to be innovative through technology advancements and being creative.
Watch the 3 minute interview AAMGA 2016 Interview