Broadstone and InsTech Launch MGA Actuarial Survey

If you want some insights into the MGA sector right now then this new survey should prove interesting;

Broadstone, a leading independent financial services consultancy, has launched its Managing General Agent (MGA) Actuarial Survey in partnership with InsTech (a Datos Insights company), the insights and innovation network for the insurance market.

The report, MGAs and Actuaries in 2026, surveys 98 UK-based MGAs and examines how MGAs, of all sizes and across insurance lines, access actuarial and analytical capabilities.

It provides a timely and data rich view of how MGAs are accessing, deploying and expanding actuarial expertise, finding notable capability gaps that present both challenges and opportunities.

Key findings from the report include:

Over 90% of MGAs now use actuarial skills in some form which is significant when for most it is not a regulatory requirement.
Around 65–75% of respondents use actuarial or analytical expertise for underwriting performance reviews, pricing adequacy and claims development; indicating that actuarial skills have moved firmly into the commercial heart of the MGA model.

In-house capability is now the norm – but rarely stands alone. Over half of MGAs (58%) now have some in-house actuarial capacity. However, most of these also draw on external support

Micro and earlystage MGAs rely heavily on capacity provider analytics, accessing pricing, performance monitoring and historical data through incubatorstyle carrier relationships.

Small to midsize MGAs transition into hybrid actuarial models, typically making their first actuarial hire while continuing to draw on external or carrier support.

As MGAs scale, their need for real-time, embedded actuarial input increases and they transition to hybrid models that blend in-house and external expertise.

Data quality is a significant constraint on actuarial value with some reporting that data preparation can consume up to 40–50% of actuarial project effort

Cormac Bradley, Senior Actuarial Director at Broadstone, commented: “This new report highlights how actuarial capability has moved decisively into the commercial front line for MGAs. What might once have been viewed as a regulatory add-on has now evolved into a strategic enabler of growth, resilience and credibility.

“There are evidently some important structural challenges for the MGA market to overcome with data preparation a major constraint. Capabilities such as data science frameworks and exposure modelling also remain unevenly adopted across the market.

“As MGAs scale, the winners will be those firms who create the high-quality data foundations and integrated actuarial and analytical processes to support clear, repeatable pricing and reserving.”

Robin Merttens, Executive Chairman and Co-founder at Instech, commented: “MGAs sit at the forefront of innovation within the insurance industry, combining entrepreneurial energy with sharp customer focus, sector expertise and modern technology. As MGAs expand their influence, the importance of robust analytical capability – particularly actuarial insight – has grown significantly.

“The findings from this report reveal a sector that is maturing rapidly and that actuarial input has now moved firmly into the commercial heart of the MGA model. Actuarial work is not just about risk management: it is a core driver of underwriting effectiveness, capacity credibility and long-term franchise value.”