In this episode, MGAA CEO Mike Keating and COO Julia Coakley are joined by guest host Joe Malone to examine the association’s successes throughout 2024, and outline their resolutions for the next year and beyond. Both affirm that, as a non-profit organisation, the MGAA’s most fervent priority is to maintain the satisfaction of its current and new membership, by continually enhancing its proposition through the collation and implementation of member feedback.
This year, Julia reflects, the MGAA has achieved this through the creation of its DNI program and Mental Health in Business program, both of which were borne out of member suggestions. Beyond this, the MGAA remains committed to attending to the issues most important to members, namely assisting with the introduction of new regulatory measures. Given its healthy relationship with the FCA, Mike notes that the MGAA is well-positioned to directly communicate the concerns and interests of its members to policymakers. This ensures that regulation remains proportionate and can facilitate, rather than hinder, positive customer outcomes.
Mike and Julia also reflect on the MGAA’s highly successful events in 2024. Both our flagship conference and the London Broker Exchange exceeded our expectations in terms of footfall. As with every other aspect of the association, Julia notes that we will continue to improve our events through the feedback delivered by our members. The association’s priorities for 2025 and beyond are not hinged upon any arbitrary implementation of change simply for the sake of doing so. Even as MGAA membership continues to expand, Mike and Julia assure listeners that their decision-making will always remain underpinned by comprehensive research into members’ interests and needs, both individually and collectively as a market.
“We’re not, as an association, solely looking at ‘we have to grow by 20, 30, 40 or 50 [members in the next year]’, because it's just as important that we deliver a service and a proposition for our existing members, as well as attracting new ones. We'll never lose sight, ever, of our existing core 400+ members who we provide a service to and a membership benefit proposition to, as well as inviting new members to come on board.”
“Everybody embraces and accepts that regulation is the right thing. It's the right thing for customer outcomes. It's the right thing that there's regulation across all our industry, both to serve the consumer and to protect the consumer. The key challenge and the key question is around proportionality. Is that proportionality at the right level, ensuring that it's not stifling innovation? Is it stifling the introduction of new products into the market, because the bar is the bar is too high? Number two, is the expense for increasing regulation a burden on the industry? Both ourselves and BIBA have commented around the increase in regulation, and how that can impact innovation and impact business models. So, I think, one of the good things the Association has got on behalf of members is an excellent relationship with the FCA.”
Julia Coakley is the Chief Operating Officer of the MGAA.
Julia has built a career centered on exceptional customer service and strong business relationships. With 23 years in broking and underwriting, she brings deep expertise to the insurance industry.
As Senior Customer Relationship Manager at the Motor Insurers’ Bureau, Julia has spent the last five years delivering high-profile events and shaping a high-performing CRM team across key industry services like the Motor Insurance Database and Insurance Fraud Bureau.
A dedicated West Ham United fan, Julia enjoys walking her dog, Ted, along Southend-on-Sea’s seafront, balancing life’s challenges with brisk exercise.
Julia’s LinkedIn Profile: https://www.linkedin.com/in/juliacoakley/
Mike's extensive expertise in the insurance sector has allowed him to witness and adapt to the dynamic shifts within the industry. Throughout his 40 year career, he has navigated the traditional realms of insurers, brokers, and MGAs (Managing General Agents) across both Commercial and Personal Lines markets.
He has held Executive positions at AXA, Midas, UK General and most recently Insurtech start up Qlaims before becoming Chief Executive Officer at the MGAA in September 2020.
Mike is excited about the new MGAA podcast series, which aims to showcase key figures in the UK insurance industry and beyond, providing insight into the challenges and opportunities that the MGA industry encounters.
Mike's LinkedIn Profile: https://www.linkedin.com/in/michael-keating-230b8424/
