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InsurTech Founders Say Launching an MGA Means Learning to Juggle

August 22, 2022 by Elizabeth Blosfield

Any founders considering launching an InsurTech MGA should learn how to juggle, panelists said during a discussion hosted by Socotra CEO Dan Woods at the 2022 OnRamp Insurance conference.

Executive Summary

Four InsurTech MGA founders speaking at the 2022 OnRamp Insurance conference share the challenges they ran into while launching their first MGA and the strategy it took to overcome those hurdles. They discuss their successes and road bumps along the way, as well as share their best advice for InsurTech founders seeking to launch their own MGA.

“I don’t know if I can tell you what we did first, because we were trying to do it all at once,” said Elpha Secure CEO Preetam Dutta. “It’s like that juggling game where you just drop all the balls at times, but then you try to pick them up really quickly.”

While founders may think that adopting the right technological tools is step one, most of the InsurTech MGA CEO panelists agreed that for them, technology came later in the process.