Held in early July in central London, the 2023 MGAA Conference saw companies from across the MGA market come together to discuss disruption in the insurance sphere.
The event, an annual occasion for the sector, promised a panel of experts and plenty of opportunities to network with suppliers and other professionals from across the industry. One of the main focuses of the 2023 conference was discussing how to juggle inflation with the rising issue of fraud and the cost of living. This also encouraged advice on how to ensure that customers are receiving the support they need in these conditions.
This 2023 event was held under the tagline ‘Community in Action’ – a theme which speaks to our underlying values as a company – to supercharge brokers, MGAs, and insurers with transformative IT capabilities, with a plan to fix the broken insurance industry.
Here’s a round-up of the event from the two ParaCode representatives (including Sarah-Lambert Gibbs, our Business Development Manager and Will Prest, Product Manager) who attended the conference.
Our goal in attending the conference was to educate other insurance professionals on the transformative solution ParaCode have been developing through a unified marketplace, while networking with other industry experts.
Experiencing the MGAA annual conference as an attendee and exhibitor
Hosting a stand at the conference meant that we were constantly in the thick of hearing the long-standing challenges that insurance professionals have been experiencing through old PAS platforms. This is something we feel extremely passionate about at ParaCode due to experiencing these problems first-hand which drove us to developing a solution to combat this.
A big part of the conference and the overall experience for us was to gain more insight into the MGA market, with one member of the team attending a talk that focussed on the customer experience while others connected on a supplier level with companies we could potentially work with in the future. We attended various discussion sessions where we gained a multitude of connections, particularly suppliers for prospective future partnerships.
What we learnt at the MGAA Conference
One of the most interesting takeaways from the day came from a mid-afternoon session, offering a broker perspective on MGA services and insurance provision. By putting a broker’s perspective at the heart of the panel discussion, we were able to unpick more about how cloud-based solutions and software affect the end experience for users. This was great to hear in more detail due to the solution ParaCode proposes for easier relationships and conversations between MGAs and brokers.
Aside from the talks and panel discussions themselves, we had plenty of conversations with suppliers and prospective customers around the challenges they are experiencing and found the evident demand in the market for a modernised PAS platform.
Upon reflection, if there was one thing we would do differently, it would be to add some nibbles to our stand to fuel hungry attendees – another conversation we found evident demand. Other than that we found the day to be both enjoyable and incredibly informative (and all jokes aside, the snacks we did pick up from other suppliers were excellent!)
In the words of our team member Will, “It was great to be at such a vibrant event and we will definitely come back next year.”
Did you attend the MGAA conference? Did you chat to a member of our team, or discover ideas for your business that you want to discuss in greater depth and detail? Let us know by getting in touch!