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2024 London Market & Specialty MGA Outlook

Global risks are intensifying in 2024. From climate change impacts to heightened cyber attack risks, the insurance sector is in the hot seat to hedge against prevalent risks in society.

Many MGAs have already taken a proactive approach to risk reduction, implementing actionable strategies to minimize the likelihood of risks occurring in the first place.

However, the global insurance industry has a long and challenging road ahead as 2024 ramps up to be another year of unprecedented events and changing customer demand.

2024 Key Trends in London Market Insurance & MGAs

• MGAs will need to shift their approach to be customer centric, requiring new technology to maximize both customer and employee satisfaction.
• The levels of mergers and acquisitions will grow following expected interest and inflation rates subsiding.
• Personalizing customer experience with generative AI presents new opportunities to gain market share.
• Evolving customer needs require organizations to adapt and overcome or be left behind, particularly in technology, product portfolios, and core business models.

ABOUT ECOSYSBIZ®
Our purpose is to bring certainty to business that boost sustainable growth worldwide.
We pride ourselves on our precision of execution and benefit realization. Our disruptive approach helps build confidence in the marketplace.

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