Beyond Compliance: How GreenKite and PKF Drive Sustainable MGAs

Building a sustainable MGA isn’t only about profitability. It’s about creating a resilient, scalable business that can adapt to market shifts and regulatory changes while maintaining strong partnerships with carriers and brokers. In episode 3 of GreenKite’s ‘Ask the Expert’ podcast series: Beyond Compliance, Sara Ager, CEO of GreenKite, sat down with John Needham, Partner at PKF, to explore the strategies and challenges MGAs face in achieving long-term sustainability.

The foundations of sustainability

Sustainable MGAs start with disciplined underwriting. ‘Your underwriting practices need to align with the expectations of capacity providers and deliver consistent profitability’, notes John Needham. Diversification is equally critical. Relying on a single product line or carrier exposes MGAs to significant risk. Expanding into complementary products or markets helps mitigate this Sara explains that GreenKite support MGAs in building robust governance frameworks and operational strategies that align underwriting practices with market expectations. She says: ‘By embedding these foundations, we ensure businesses are prepared to diversify and adapt as the market evolves.’ Operational efficiency is another key element. MGAs that streamline their processes can reduce cost and focus on delivering value to their clients, as well as strengthening relationships with both carriers and brokers.

Technology as a growth enabler

Technology bridges the gap between innovation and operational efficiency, enabling MGAs to scale efficiently. Modern platforms support increased automation and improved data accuracy but don’t focus on the technology; ensure all technology development aligns with the overarching goals of the business.

Key considerations:

• Data centralisation: GreenKite supports MGAs to centralise their data, ensuring data accuracy is at the heart of processes to support actionable insights.
• Operational efficiency: by leveraging scalable technology platforms, MGAs can reduce operational cost through the reduction in manual effort, which can drive improvements in overall profit.
• Flexibility and scalability: at GreenKite, we support your business with the longer-term strategic vision oversight to ensure technology investments are right for you now and in the future, as well as ensuring solutions are aligned with evolving market needs.

Together, GreenKite and PKF take a holistic approach, ensuring that governance, operational needs, and financial strategies are integrated into business strategy and technology implementations. This ensures technology can seamlessly scale, now and in the future, driving increased confidence among capacity providers.

Financing for success

Startup MGAs face unique financial challenges, including securing initial capital and managing cash flow. Sara and John agree that founders should plan for at least 12 months of operations without profit and align their financial planning with realistic revenue expectations. At GreenKite, we help MGAs establish strong financial governance frameworks, while PKF’s expertise in financial advisory ensures businesses remain on track for sustainable growth. Together, we provide the insights and strategies MGAs need to manage cash flow challenges and build resilience.

Collaboration across the supply chain

Insurers and MGAs are responsible for ensuring their entire supply chain aligns with regulatory and market expectations. This requires clear oversight, robust governance, and seamless collaboration.

At GreenKite, we support MGAs by:

• Setting clear expectations for outsourcing partners
• Fostering alignment between stakeholders
• Ensuring technology provides a single source of truth for compliance and performance.

Looking ahead

The MGA landscape is constantly evolving, and building a sustainable business requires a forward-thinking approach. By partnering with GreenKite and PKF, MGAs can manage regulatory demands, build resilience, and deliver better outcomes for their clients and stakeholders.

Want to learn more? Listen to episode 3 on Podbean or Spotify. Watch it on YouTube.

Why should you listen?

In this engaging conversation, Sara Ager and John Needham share actionable advice and practical strategies for building a sustainable MGA. From governance and compliance to financial resilience, their combined expertise offers invaluable insights for anyone in the insurance industry. GreenKite provides the expertise to help MGAs achieve sustainability with confidence. Let us help you turn challenges into opportunities for long-term success.