New survey results suggest brokers want MGAs to be rated on performance;
A recent poll of UK insurance brokers by Corin Underwriting (Corin) reveals widespread support for MGAs undergoing A.M. Best performance assessments, with 81% agreeing that more MGAs should pursue this rigorous review. Furthermore, 77% of brokers stated that achieving an A.M. Best assessment would positively influence their decision to partner with an MGA, underscoring the growing importance of transparency and credibility in the market.
Corin, a pioneer in embracing the A.M. Best performance assessment process, views it as a vital step in aligning with brokers’ and carriers’ expectations. Unlike others, Corin chose to lead the way by undergoing this highly independent and meticulous review, typically reserved for insurers.
Andy Hurrell, Founder of Corin, commented:
“Brokers insist on working with rated carriers, so why would they settle for less when choosing an MGA? At Corin, we made the decision to undergo the A.M. Best performance assessment to demonstrate our alignment with the high standards of insurers. This recognition not only puts us on a level playing field with carriers but also sets us apart in the MGA market.”
Corin’s commitment to operational excellence is further reflected in its unique positioning as an MGA with full back-office support and a focus on acting as an underwriting hub for insurers specialising in niche classes of business. Corin’s intent is to redefine industry standards while delivering bespoke solutions to its partners.
The A.M. Best assessment reinforces Corin’s alignment of interests with its carriers and stakeholders, providing brokers with the assurance of long-term stability and a shared commitment to quality.
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