Mike Mclean November 11, 2022 2 min read

Managing General Agent (MGA)

A woman is sitting at a desk and a man is standing on the right, both of them rubbing their chins, wondering what managing general agent is.

An MGA is an individual or company who can act as a broker or agent on behalf of an insurer. While an insurance broker works on behalf of the policyholder, an MGA works on behalf of the insurance company. An MGA can be used by an insurance company in order to outsource certain tasks, such as claims handling or underwriting. This allows the insurer to focus on other areas of their business, such as the customer and insurance products.

Person thinking

Is tech doomed? Are VCs out of touch?

2022 Startup Risk Index Report

Based on a survey of over 500 VC-backed startup founders in the U.S., this report analyzes how founders think about risk from both an individual and business perspective.

Download the Report

What Is the Benefit of a Managing General Agent?

There are several benefits to being a client of an MGA. One of the most important benefits is that the MGA can provide you with access to a wider range of insurance products. This is because the MGA has relationships with several different insurers, which gives them the ability to offer you a greater selection of options.

Another benefit of using an MGA is that it can often provide you with more competitive rates. This is because the MGA can use its negotiating power to get better rates from the insurers they work with. This savings can be passed on to you, the client.

Finally, an MGA can provide you with a higher level of customer service. This is because they are typically smaller than a traditional insurance broker and can offer you a more personal level of service. They will also be more familiar with the products they offer, which can make it easier to get the coverage you need.

More Resources for Your Business

Companies of all sizes turn to Embroker for customized coverage and resources that shed insight across diverse industries. Check out some of our top data dives below:


Related Articles

How to Find an Insurance Broker for Your Business

How to Find an Insurance Broker for Your Business

8 min read

We all know insurance is important for protecting businesses against risks, especially in these uncertain times. But the notion of researching and comparing insurance options can seem like a lot. That’s why many business owners turn to brokers to help with their insurance needs. But, how to find an insurance broker for a business? That […]

Read More
How to Switch Business Insurance Providers

How to Switch Business Insurance Providers

5 min read

A new year is on the horizon and with it comes the opportunity to make some changes. If your business insurance isn’t making the grade, whether your renewal date is fast approaching or far off in the future —we have some advice: Don’t stay stuck in a bad relationship. So, we’re going to teach you […]

Read More