Root Poll reveals half of MGAs still starting digital transformation journey

Title: Half of MGAs Just Starting Their Digital Transformation Journey

A recent poll from Root Platform, an insurance technology provider focusing on APIs, has revealed that a significant number of managing general agents (MGAs) are lagging in their digital transformation efforts. Conducted during the Managing General Agents’ Association (MGAA) Market Briefing, the survey found that 50% of MGAs are still in the early stages of adopting digital and API technologies.

Key Findings

The survey highlights a notable disparity among MGAs regarding their adoption of technology. While some MGAs have fully embraced API capabilities, half have yet to make substantial progress. This gap raises questions about the overall readiness of the industry to leverage technological advancements in streamlining operations and improving customer service.

Implications for the Industry

This finding serves as a wake-up call for MGAs still hesitant about embracing digital transformation. With the insurance landscape becoming increasingly competitive, failing to modernize could hinder their ability to meet client expectations and improve efficiency. Those MGAs that have successfully integrated API technology may find themselves at a distinct advantage in both operational efficiency and customer satisfaction.

Looking Ahead

The results of the poll indicate a potential shift in the industry's approach to technology adoption. As MGAs recognize the critical nature of digital transformation, we may see an acceleration in efforts to integrate API solutions over the coming years. For those still starting their journey, now could be an ideal time to reevaluate strategies and invest in technology that meets modern demands.

Original Source: Root Poll reveals half of MGAs still starting digital transformation journey