Wednesday 26th November

The MGA market continues to evolve quickly, with innovation and specialist expertise reshaping how underwriting businesses launch and grow. At the centre of this is PoloMGA, PoloWorks’ dedicated MGA incubator and platform, supporting underwriting teams with the governance, structure and guidance they need to scale sustainably.

In this edition of Inside PoloWorks, we speak with Laura Berry, our newly appointed Head of PoloMGA. With more than 20 years’ experience across the Lloyd’s and London Market, Laura brings deep underwriting, delegated authority and operational expertise to the role. We sat down with her to explore her career journey, her vision for PoloMGA and the opportunities she sees ahead for MGAs in a fast-moving market.

Q: Congratulations on your new role. Can you tell us about your career journey and how it led you to PoloWorks and ultimately to leading PoloMGA?

A: I began my career at a major insurer as an Administrative Assistant, handling data entry, photocopying and scanning slips and endorsements at Lloyd’s, as well as making a great tea round, which was very much expected of junior staff at the time. Over the past 22 years, I have built experience across underwriting and operations within Delegated Authority.

I took a short break from the market to run my own cake decorating business while raising two young children. It was creative and rewarding, but also the most stressful job I have ever had. I later returned to insurance, spending nearly a decade in underwriting before becoming an Underwriting Team Leader at a global broker’s in-house MGA. I then broadened my experience at an MGA incubator before joining PoloWorks.

From my first interview with Paul Andrews (CEO), I was excited by PoloWorks’ vision and the sheer breadth of the services they offer to the insurance industry. PoloMGA had only recently soft-launched, and I knew immediately that I wanted to be part of its development. I joined as a Client Manager 14 months ago, supporting syndicate onboarding for PMA, meeting potential and existing clients across PMA, PCIS, PIM and PoloMGA, and leading the client engagement initiative. That experience helped me understand the full capability of the group and played a big part in my journey to becoming Head of PoloMGA.

Q: How would you describe the purpose and value of PoloMGA within the wider PoloWorks group?

A: I believe PoloMGA complements the other platforms within the PoloWorks group perfectly. For example, an MGA that reaches sufficient scale to become a SIAB or a full syndicate can transition seamlessly through the PoloWorks ecosystem, from PoloMGA launching and hosting their business to PMA to undertake the same for their Lloyd’s vehicle.

We also have several upcoming opportunities that will leverage both the PoloMGA offering and partner with Polo Insurance Managers, as they will require a captive solution. In all scenarios, our clients require some level of insurance services, which they can access through the various service verticals within PCIS.

Q: PoloMGA supports a range of start-up and established MGAs. What makes your model different in the market?

A: Our model stands out through deep Lloyd’s and London Market expertise and a true partnership approach. We tailor services to each MGA’s needs, offering guidance, consultancy, business plan reviews, financial assessments, and support in sourcing capacity and capital.

Unlike many incubators, our MGAs retain 100% ownership and decision-making power. We provide the full wrapper of middle and back-office functions with no lock-ins, which helps the MGA remain lean in their early stages and our outsourced resources can flex with the MGA as they scale and grow. Through the integrated PoloWorks ecosystem, clients can if they wanted to seamlessly progress from MGA to Syndicate.

Q: You have more than 20 years’ experience in the Lloyd’s and London Market. How does that shape your leadership of PoloMGA?

A: Having seen MGAs both thrive and fail, I’ve developed a strong sense of what factors contribute to success and what pitfalls to avoid. My previous roles in underwriting, MGA underwriting management and governance, operations, and relationship management within the MGA space has given me a broad understanding of the MGA landscape. This experience allows me to take a holistic approach to leadership, balancing commercial ambition with robust governance and operational efficiency to set PoloMGA up for sustainable growth.

Q: What are the biggest challenges MGAs and delegated authority platforms face today?

A: MGAs and delegated authority platforms have quite a few major challenges: meeting increasingly stringent regulatory requirements, such as Consumer Duty and fair value obligations while leveraging data effectively to drive decision-making and deliver value. They must ensure governance, transparency, and data security across multiple systems and partners, all while scaling quickly. Integrating compliance and data strategies is critical to staying competitive. In addition, having a credible pipeline of business is critical. Identifying where growth opportunities are likely to come from through predictive analytics, market intelligence, and strong distribution relationships can significantly reduce risk and accelerate success in the early stages. Proactive pipeline management not only supports scalability but also demonstrates resilience and strategic foresight to investors and partners.

Q: How does PoloMGA help MGAs navigate these operational and underwriting complexities?

A: We help by providing end-to-end support across operational and underwriting challenges. We offer expertise in regulatory compliance, governance frameworks, and data management, ensuring MGAs meet FCA and Lloyd’s requirements. On the underwriting side, we assist with business planning, pricing strategies, financial modelling and capacity and capital sourcing. Our model also provides flexible access to shared resources so MGAs can scale without heavy upfront investment. This combination of consultancy, infrastructure, and market insight allows MGAs to focus on growth while we handle complexity.

Q: What does a successful MGA partnership look like to you?

A: A successful MGA partnership is built on shared vision and goals, strong onboarding and oversight, and formalised long-term capacity arrangements that provide stability. It requires financial discipline and a commitment to innovation, whether through technology or unique propositions to drive business growth. Support services should enable the MGA to focus on underwriting, profitability, and expansion. Most importantly, open communication fosters collaboration and effective problem-solving.

Q: How do you see PoloMGA evolving over the next few years, and what are your priorities for 2025 and beyond?

A: My priority this year is to ensure that the onboarding of the MGAs scheduled for Q1 2026 is executed correctly and as seamlessly as possible. We’ll inevitably learn as we grow, but my focus is on getting the fundamentals right, quality over quantity in these early stages while we refine our onboarding and oversight processes.

Looking ahead, we aim to establish formalised long-term capacity arrangements to support these MGAs and explore opportunities to invest in them, creating aligned interests in their success and in PoloMGA’s profitability and growth. Additionally, I believe there are further services and support we can offer to our MGAs as part of our offering, and I will continue to develop these as we expand.

Q: What excites you most about the opportunities ahead for MGAs in the London Market?

A: What excites me most is the incredible pace of growth in the MGA market, which shows no signs of slowing down. This momentum is driven by innovative products, uniquely structured placements, and creative distribution strategies emerging in the space.

MGAs also have the advantage of agility as they can launch and adapt products quickly without the heavy infrastructure and compliance burden of a full carrier. This flexibility makes them perfectly positioned to serve niche and emerging markets.

Q: What advice would you give to underwriting teams or start-ups considering launching or scaling an MGA?

A: I would encourage them to reach out to us, we’re always happy to share practical guidance on what it takes to succeed. Essentially you need 3 core elements to start an MGA: Capacity, investment and the regulatory platform. It’s essential to plan carefully around your business pipeline, distribution strategy, and cost structure.

For example, underwriters should avoid paying themselves an excessive salary early on, as this can significantly impact the long-term value of the business and influence their potential investor decisions prior to launch who expect them to have skin in the game. Capacity providers are generally looking to back MGAs that bring expertise in new areas, offer distinctive distribution, and have a clear niche. Increasingly, MGAs with a strong technology edge stand out and attract support.

Laura’s insights highlight the important role MGAs play in driving innovation across the Lloyd’s and London Market, and how PoloMGA is positioning itself to support that growth. By combining technical expertise with a collaborative, flexible approach, PoloMGA offers a platform designed for sustainable success. With a strong focus on quality, governance and scalable support, PoloMGA is helping shape the next generation of MGAs, with Laura’s leadership at the forefront.