Brokers back MGAs but say they must work harder to deliver real choice at renewal

Prestige Underwriting’s latest broker survey reveals a buoyant outlook for the non-standard insurance sector, coupled with a clear call to action for insurers and MGAs from across the market to provide more support at renewal, with greater flexibility and choice for their clients. 

Brokers report rising demand and optimism for growth in non-standard lines, yet nearly unanimously urge MGAs to go beyond enhanced service and work harder to deliver meaningful renewal options that help clients maintain cover amid economic pressures.

Nine in ten brokers (90%) believe insurers and MGAs across the market could do more to support renewals and client retention. The message is unequivocal – while MGAs are valued for their expertise and responsiveness, brokers say the challenge now lies in how they help clients stay covered. Not just by renewing existing terms, but by offering alternative products and solutions that reflect changing circumstances.

According to the survey, a lack of renewal flexibility risks leaving customers underinsured, as more policyholders cut back on cover due to affordability pressures.

Despite this challenge, brokers remain upbeat about the non-standard market’s prospects. 79% have seen an increase in non-standard insurance enquiries over the past year, and 76% expect further growth over the next 12 months. This reflects a sustained demand for specialist home and motor solutions, areas where MGAs are seen to excel.

MGAs continue to be trusted partners for brokers navigating complex risks. 90% of respondents rate MGAs as valuable (54% “very valuable” and 36% “somewhat valuable”), and almost half (42%) now approach MGAs before traditional insurers when placing non-standard risks. Furthermore, 89% of brokers say they feel supported by MGAs in placing these types of policies.

However, as the market expands, brokers are adamant that MGAs must now channel their agility and expertise into stronger renewal engagement to ensure clients are presented with options that reflect their evolving needs.

Alison Williams, Managing Director at Prestige Underwriting, commented: 
“These results are a timely reality check. Brokers are telling us that while they value MGAs and see tremendous growth potential in non-standard insurance, they need Prestige Underwriting and others to work even harder for them at renewal time. It’s encouraging to see strong demand and broker confidence in the sector’s upside, but we can’t ignore the call to deliver real choice and flexibility to help clients stay insured without compromise.

“Clients’ situations can change year-to-year with economic pressures continuing to impact policyholder decisions. Brokers want MGA partners who will roll up their sleeves, provide options, and ensure their customers have access to fair, tailored solutions when renewal time comes around.

“At Prestige Underwriting, we take this feedback seriously. Our goal is to help brokers not only win new non-standard business, but also retain it by offering solutions that address issues like underinsurance and affordability head on. In a market that continues to grow and change rapidly, we remain committed to being an agile, dependable partner. That means listening to brokers, innovating our products and processes, and doing whatever it takes to ensure their customers can stay protected at a fair value come renewal time.”

The findings underline a critical challenge for the market. MGAs have a pivotal opportunity to convert current non-standard growth into long-term stability by working harder to deliver renewal flexibility and product choice.

While brokers are optimistic and increasingly rely on MGAs’ specialist expertise, their message is clear. Renewal support cannot stop at administration. It must extend to creativity, collaboration and choice, ensuring clients remain protected and brokers continue to trust MGAs as indispensable partners in a changing market.