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Old 06-14-2020, 07:14 PM
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Originally Posted by Vorian Atreides View Post
Thanks for the clarification. I don't interact with a brokerage type business model for the most part, so that'll explain why the terms aren't that familiar to me.
That makes sense. My knowledge of agency business is slim to none!
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Old 06-18-2020, 10:50 PM
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Originally Posted by Jimmy982 View Post
If my above description is correct do MGAs need to use agents to get business. Whats to stop them from getting business themselves and cutting the middleman out?
It's hard for MGAs to both go direct and work with retail brokers, for the same reason carriers have a hard time both going direct and distributing through retail brokers: for the most part, your customers don't like you competing with them, and the volume of business you can achieve 'going direct' is not big enough to replace the lost business.

(cue never-ending conversation for an insurer, "who is the customer" -- answer, your distribution partners and your end customers both.)
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