How Brokers and MGAs Are Redefining Their Role in the Market

This piece is by Jody Bisson, WTW, and Richard Paris-Smith, SRS Europe

At BIBA 2025, it was clear that brokers and Managing General Agents (MGAs) are moving beyond merely reacting to market conditions; instead, they are seeking to reshape their role through smarter structures, improved tools, and greater control over capacity.

With more than 9,500 delegates gathered in Manchester, this year’s BIBA Conference was one of the busiest to date.  But it was not just the scale that stood out – it was the shift in mindset. There is a growing recognition that brokers and MGAs can no longer rely solely on traditional models to serve clients effectively. Instead, they are exploring how to actively build resilience into their operations.

This theme was especially evident at the Guernsey Finance Fringe event, ‘Guernsey re/insurance vehicles in action – real-life examples’, where the focus was on practical ways MGAs and brokers are gaining more control over their capacity and pricing models. The session highlighted a growing interest in Guernsey-based insurance structures, such as Protected Cell Companies (PCCs) and captive insurance vehicles, as mechanisms for managing volatility and establishing greater operational independence.

MGAs and brokers often possess the data and insight necessary to underwrite effectively, but they remain vulnerable to the short-notice withdrawal of third-party capacity. Creating their own vehicles allows them to build capacity in a way that supports long-term consistency, improves access to reinsurance markets, and provides more influence over how pricing strategies are shaped.

What is emerging is a hybrid approach. These structures are not about replacing commercial insurer partnerships but rather about strengthening them, offering a level of internal resilience that complements existing market access. By combining their own vehicles with ongoing carrier relationships, MGAs are better positioned to deliver stability for clients and maintain a more strategic view of their business.

Alongside this, MGAs are also looking at Guernsey to set up their holding companies, allowing them greater strategic flexibility with structuring, ownership or even potential sale of an MGA.

This search for control and flexibility does not stop at capacity building. Across the wider BIBA programme, delegates discussed how technology – particularly artificial intelligence (AI) and digital servicing – is changing the way brokers operate. From automated underwriting to client-facing platforms, firms are finding ways to scale more efficiently without compromising service quality. Yet throughout, there was a strong note of caution: the fundamentals of trust, judgement and human interaction must remain central.

If anything, the more digitally enabled the sector becomes, the greater the emphasis will be placed on personal relationships. Technology is most effective when it allows people to spend more time doing what they do best – working directly with clients, understanding risks, and building lasting relationships. That sentiment was echoed across the event: innovation should support these values, not displace them.

The message from BIBA 2025 was consistent. MGAs and brokers now have more options – and more control – than ever before. From establishing bespoke insurance vehicles to integrating AI-powered analytics and rethinking how they distribute products, they are utilising a broader range of tools to take charge of their future. The challenge is not simply adopting new approaches but doing so in a way that builds on the foundations the industry already values.

It is not about choosing between the old and the new but about bringing them together in a way that makes businesses stronger, more stable, and more responsive to their clients.

This blend is where the industry is heading, not in response to external pressure but through internal momentum. Those who can navigate both tradition and transformation will be best placed to lead.