IBC Brokers on MGAs 2024 Survey

Brokers - help us rate your MGAs!

What qualities do you look for in an MGA? Tell us how well your partners are performing!

Insurance Business Canada is reaching out to brokers to help us uncover the best businesses in the industry.

Your participation in this survey ensures that our industry recognizes and addresses priorities in the broker-MGA relationship. We want to award the best businesses in the industry and celebrate their achievements and excellence.

The survey takes only a few minutes to complete and for every survey that is completed, we will plant a tree on your behalf.

Look out for the results in Insurance Business Canada's website in October.

The survey ends Friday, July 19.

Insurance Business is honored to support reforestation with One Tree Planted as part of our commitment to sustainability.

For any questions or clarifications, you may contact aly.balatbat@keymedia.com

Note: Please make sure you don't take more than 5 minutes on a single page as the platform will refresh and you could possibly lose your progress in the survey.

Question Title

* 1. Please rate the importance of the following when choosing an MGA where 1 = not important and 5 = very important

	1 (not important)	2	3	4	5 (very important)
Pricing	Pricing 1 (not important)	Pricing 2	Pricing 3	Pricing 4	Pricing 5 (very important)
Technical expertise and product knowledge	Technical expertise and product knowledge 1 (not important)	Technical expertise and product knowledge 2	Technical expertise and product knowledge 3	Technical expertise and product knowledge 4	Technical expertise and product knowledge 5 (very important)
Ability to place niche or emerging risks	Ability to place niche or emerging risks 1 (not important)	Ability to place niche or emerging risks 2	Ability to place niche or emerging risks 3	Ability to place niche or emerging risks 4	Ability to place niche or emerging risks 5 (very important)
Range of products	Range of products 1 (not important)	Range of products 2	Range of products 3	Range of products 4	Range of products 5 (very important)
Compensation (commission, bonuses, profit share, etc.)	Compensation (commission, bonuses, profit share, etc.) 1 (not important)	Compensation (commission, bonuses, profit share, etc.) 2	Compensation (commission, bonuses, profit share, etc.) 3	Compensation (commission, bonuses, profit share, etc.) 4	Compensation (commission, bonuses, profit share, etc.) 5 (very important)
Overall responsiveness	Overall responsiveness 1 (not important)	Overall responsiveness 2	Overall responsiveness 3	Overall responsiveness 4	Overall responsiveness 5 (very important)
Reputation	Reputation 1 (not important)	Reputation 2	Reputation 3	Reputation 4	Reputation 5 (very important)
Marketing support	Marketing support 1 (not important)	Marketing support 2	Marketing support 3	Marketing support 4	Marketing support 5 (very important)
Technology/automation	Technology/automation 1 (not important)	Technology/automation 2	Technology/automation 3	Technology/automation 4	Technology/automation 5 (very important)
Geographical reach	Geographical reach 1 (not important)	Geographical reach 2	Geographical reach 3	Geographical reach 4	Geographical reach 5 (very important)

Question Title

* 2. How are MGAs performing in these key areas? 1 = not important and 5 = very important

	1 (not important)	2	3	4	5 (very important)
Pricing	Pricing 1 (not important)	Pricing 2	Pricing 3	Pricing 4	Pricing 5 (very important)
Technical expertise and product knowledge	Technical expertise and product knowledge 1 (not important)	Technical expertise and product knowledge 2	Technical expertise and product knowledge 3	Technical expertise and product knowledge 4	Technical expertise and product knowledge 5 (very important)
Ability to place niche or emerging risks	Ability to place niche or emerging risks 1 (not important)	Ability to place niche or emerging risks 2	Ability to place niche or emerging risks 3	Ability to place niche or emerging risks 4	Ability to place niche or emerging risks 5 (very important)
Range of products	Range of products 1 (not important)	Range of products 2	Range of products 3	Range of products 4	Range of products 5 (very important)
Compensation (commission, bonuses, profit share, etc.)	Compensation (commission, bonuses, profit share, etc.) 1 (not important)	Compensation (commission, bonuses, profit share, etc.) 2	Compensation (commission, bonuses, profit share, etc.) 3	Compensation (commission, bonuses, profit share, etc.) 4	Compensation (commission, bonuses, profit share, etc.) 5 (very important)
Overall responsiveness	Overall responsiveness 1 (not important)	Overall responsiveness 2	Overall responsiveness 3	Overall responsiveness 4	Overall responsiveness 5 (very important)
Reputation	Reputation 1 (not important)	Reputation 2	Reputation 3	Reputation 4	Reputation 5 (very important)
Marketing support	Marketing support 1 (not important)	Marketing support 2	Marketing support 3	Marketing support 4	Marketing support 5 (very important)
Technology/automation	Technology/automation 1 (not important)	Technology/automation 2	Technology/automation 3	Technology/automation 4	Technology/automation 5 (very important)
Geographical reach	Geographical reach 1 (not important)	Geographical reach 2	Geographical reach 3	Geographical reach 4	Geographical reach 5 (very important)

Question Title

* 3. How many times have you used an MGA in the last 6 months?

Less than 10

11–50

51–99

More than 100

Question Title

* 4. Why would you choose to reach out to an MGA? Please select the top three reasons

To check another MGA’s pricing/obtain competitive pricing

To check someone else’s approach

For industry expertise I don’t have

For coverage or a market I don’t have access to

For a very specific coverage need

For a complicated client need I am unable to handle myself

Not familiar with the particular type of risk

For a specialty coverage

Other (please specify)

Question Title

* 5. On average, how many MGAs do you "bid out" an insurance placement through?

1–2

3–5

6–10

More than 10