The Delegated Authority (DA) market has been a cornerstone of the insurance industry since its early days in the 1930s, playing a critical role in distributing risk and reaching new markets. However, in recent years, there has been a significant shift. DA is no longer relegated to a back-office function; it has finally earned its place at the top table of insurance strategy. As the DA market grows, driven by the increasing complexity of risks and expanding data volumes, now is the time for the industry to stop talking about change and start implementing it.

The DA market is no longer an afterthought in the broader insurance ecosystem. It has moved to the forefront of strategic importance for insurers, as well as for capacity providers and reinsurers. Recent reports predict that the global delegated authority market will generate over £200 billion in gross written premiums (GWP) this year, underscoring the growing importance of DA in the modern insurance landscape. This surge in activity has exposed the inefficiencies in the system, and stakeholders are now keenly aware that they must adapt in order to remain competitive.

One of the key driving forces behind the shift in focus towards DA is the growing recognition of the value it holds. The demand for delegated authority business is escalating, as it offers insurers and reinsurers an efficient way to access new risks and reach broader markets. However, the lack of streamlined processes is holding many back from fully capitalising on this opportunity. The traditional methods of managing DA, relying heavily on spreadsheets, emails, and manual data entry, are simply not up to the task in today’s market. They create bottlenecks, increase operational costs, and, perhaps most importantly, slow down decision-making and the entire process.

Real-time data and efficient workflows are becoming the new standard, and companies that fail to adapt will quickly fall behind. The need for real-time visibility into claims, premiums, and risk exposure has never been more critical. Insurers and MGAs that adopt real-time data systems are seeing marked improvements in their ability to manage portfolios, price risks accurately, and assess exposure across multiple programs. By integrating data more seamlessly and allowing for more precise decision-making, the insurance industry is laying the groundwork for a future were efficiency and innovation drive success.

This evolution is not just about adopting technology for technology’s sake. The true value lies in how technology can streamline complex processes and improve the efficiency of every stakeholder involved in the DA network. As we look to the future, DA is becoming not only a tool for managing distribution but a key driver of profitability, enabling companies to take on more risk, diversify their portfolios, and optimise pricing strategies in ways that were previously unthinkable.

The industry is at a crossroads. Delegated authority has the potential to be a key enabler of business growth and operational efficiency, but only if the industry embraces the technology and processes necessary to support its scales. Companies that recognise this opportunity and act now will position themselves at the forefront of the next wave of insurance innovation.

The time has come to stop talking about the evolution of delegated authority and start doing. The future of DA is one where collaboration, innovation, and technology are integral to its success. By embracing real-time data, automating processes, and fostering better collaboration across stakeholders, the DA market will continue to grow and evolve into a key critical driver of success in the insurance space. The opportunities are limitless for those ready to seize them.

For more information email info@viprsolutions.com or check out our website at www.viprsolutions.com

With +20 years’ experience within the insurance market, I have worked in +35 global markets, the London marketplace being my most recent to enter. I live in Milan with my husband, daughter and fox terrier, Teddy, working at VIPR Solutions in London, as their Chief Marketing Officer.

As a Private Equity Executive on the VIPR leadership team, it is my job to drive the growth of the business forward. I have successfully embedded and launched a new function at the company since April 2021.

Reporting to the Founder and CEO, VIPR is an innovative tech house providing SAAS products for the Insurance market. As a 14 year old SME, my responsibilities is to implement a full marketing and CX strategy to guide the brand on the same path as the company vision and product road map. From PR/Media activities to partnerships and sponsorship, all Marketing and Communication activities fall under my remit to drive digital lead gen through targeted campaigns within an outbound and inbound multi-touchpoint strategy. Since joining, I have driven the expansion program into the US market, closing three new clients in three months. I have transformed the brands look and feel, launched a new brand positioning and website and gained position with several affiliated membership and partnerships to amplify brand exposure.

Marketing is a vital role to sit at the top table to drive business decisions and directions in line with target audience expectations.