The MGAA Annual Conference 2023 offered a window into the wider solution set now available from Verisk Specialty Business Solutions

We attended the Managing General Agents Association (MGAA) annual conference on July 6th. The conference provided the market with the chance to come together to discuss the issues, challenges, and opportunities. Delegates also had the opportunity to discuss the breadth of solutions from Verisk Specialty Business Solutions, Whitespace, and Morning Data. In a significant development, Verisk, a global leader in data analytics and technology, had announced the acquisition of Morning Data.

The UK-based firm is renowned for its cutting-edge software solutions, catering to brokers and managing general agents (MGAs) worldwide. This acquisition is a strategic step by Verisk to bolster the digital transformation of the international broker and MGA market. With a rich legacy in the insurance sector and a longstanding association with Lloyd's, Morning Data has been delivering unparalleled solutions to a broad spectrum of clients, including brokers, MGAs, coverholders, (re)insurers, and Captives, spanning start-ups to established entities.

The incorporation of Morning Data's capabilities into Verisk's solution set will significantly boost automation and streamline workflows for coverholders, brokers, and carriers. As a trusted core system, Morning Data plays a crucial role in the daily workflow of insurers, brokers, and MGA customers, managing their risk placement processes. The combined expertise of Verisk and Morning Data is set to deliver unmatched value to the insurance industry, enhancing operational efficiency, improving underwriting and claims outcomes, and facilitating informed decision-making on global risks.

The MGAA conference is always a highlight for Verisk given the group's support for MGAs and their brokers and insurers. The market is undergoing significant change both in the way it transacts its business and the way those operating within the industry are structured.

During the conference, our team was present at Old Billingsgate market, and we talked to delegates and MGAs about what we could offer and how we could help shape their current and future business strategies. We engaged with attendees throughout the event and at our stand.