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Mike Keating, CEO, MGAA, discusses the main takeaways from the MGAA event this year, growth in the MGA community and how that growth can be serviced.

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2023 - 00:04

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Friday, July 14, 2023

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<p><strong>Speaker 0</strong>: <span>right. So when I joined nearly three years ago, the first thing I did was actually draw a line and went out to members to get validation in terms of what we were doing. Well, what, uh what should we do more of? And also what else we could add to the to the membership proposition.</span></p> <p><strong>Speaker 0</strong>: <span>In the last 2.5 years, we've more or less executed all of those things which our members required. Uh, and clearly, we base our proposition around three pillars. So number one is networking and events. So things like today, right? And we have other programme events during the during the year,</span></p> <p><strong>Speaker 0</strong>: <span>definitely is something. We're really passionate around it around educational, uh, and insight. So we have a lot of educational sort of, uh, seminars around underwriting claims compliance. We work with Lloyds. So that's a really important part of our, uh, of our membership, including our relationship with the CI I.</span></p> <p><strong>Speaker 0</strong>: <span>And third is around lobbying. So lobbying is around actually getting to our members listen to our members as a voice and then and then sharing that with the regulatory bodies from that piece. So all of those things combined. We never standing still. So there will always be things which the market presents challenges to our members and opportunities. And it's for us as the association to be ahead of the curve and anticipate those and actually bring benefits to the members so that they can experience it</span></p> <p><strong>Speaker 0</strong>: <span>right? So I think the it's my views around these events, the number one is the network and getting the community together. And clearly that's our which is fantastic from that bit. I think the content of the agenda is really important in in these sorts of events. So if you look at what we've done so far, you know, and we just where we are now. So we have a broker panel effectively talking to an audience of MG a about why they deal with MGO.</span></p> <p><strong>Speaker 0</strong>: <span>What's the challenges in dealing with MJS, what the opportunities are and what MG a should be thinking about going forward. So if you're an MG a here now for that session, you're basically ticking off your validation of your business strategy and thinking. Actually, I'm not doing that as much as I could be. So that's that one session we had. Map Brewers do a great session earlier this morning around regulation, which actually is a big theme across all of the industry. So that was sort of very important. And the first</span></p> <p><strong>Speaker 0</strong>: <span>sort of head to head panel this morning as well around How do we avoid going into a soft market where again, representation from broker MG A and insurer. You've got all the stakeholders in that place. So again, for me, the take away from today is that community feel the networking very, very good, relevant and timely content from that piece. And of course, we've still got the rest of the day to go where we've got some more fun as well,</span></p> <p><strong>Speaker 0</strong>: <span>right? So again, a very, very good question. So we're now 212 members. We have 60 insurer members and we have 100 and 15 supplies. So we're very close in my mass getting to a run rate of nearly 400 members. So we have a small executive team, but which I will be in in increasing that in order to meet the demands of the members because our objective, our objective, is to ensure that we look after our existing members</span></p> <p><strong>Speaker 0</strong>: <span>and we want to try and give as much of a personalised service to those members because we recognise that all sort of different businesses and as well attract sort of new members. And as we've seen from the panel sessions today, you know there are new NG being created regularly. We see that as being the natural step for them to join the association for all the benefits I've just articulated. But I need to ensure that we have the bandwidth as an association to meet the needs and the demands of our of our growing membership.</span></p> <p><strong>Speaker 0</strong>: <span>Right, So two answers to that. So one, I referenced in your earlier question around the research I did when I came in. We've gone back out to our members again this year again, asking them, Are we? What are we doing? Well, what can we improve them and what more we can have? We'll get those results sort of later on. My anticipation is,</span></p> <p><strong>Speaker 0</strong>: <span>is that there will be a greater demand for more events because they like this network and this community, which is fine. There'll be more demand around my second pillar around educational insight, you know, work work with us from that bit. Uh, and and And I look forward to what else the the the members say through the research.</span></p>

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Friday, July 14, 2023 - 09:45

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