Especially to assist new (foreign) entrants, Koko Kroup developed a method to enter the market of authorized agents (managed general underwriters – agents | MGU – MGA): The five disciplines to sustainable profitability!
The Dutch total non-life insurance market has a size (2017) of € 55 billion (gross written premium). Excluding the product cluster “Medical costs”, the size amounts to € 11 billion, a growth of 2.3% compared to 2016.
The market of authorized agents is an important distribution channel. The market share (total market, excluding “Medical costs”) of the 174 member of the NVGA (Dutch Association of Authorized Agents) is almost 30% (2017). The market shares vary per product cluster and per type of agent. In recent years, the market of authorized agents has grown substantially faster than the total market. The market of authorized agents often has a lower average claims ratio within large product-market combinations and has therefore made a positive contribution to profitability.
For new insurance companies, it’s a small effort to open the treasury and release a new market that make the difference. Go MAD!
Five disciplines to sustainable profitability!
In a growing market where strong authorized agents need more and fresh carriers, growth is not a challenge. But only if you make the right choices, a sustainable business model can be set down and opens the road to sustainable profitability. KoKo Kroup developed a method to enter the market of authorized agents and stay in control over risks and your future! Because only results count.
Are you considering entering the market of authorized agents? Contact us for transmission of knowledge and information or download our brochure.
Amsterdam, 28 januari 2019