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In the insurance industry, compliance often feels like a never-ending burden – slowing down and confusing all departments of an organisation. However, this issue doesn’t necessarily come from compliance itself, but more from thinking of compliance as a tick-box and frustrating exercise, rather than embedding it within a firm’s culture and considering it as a defining and primary element of a successful business.
Last month, experts at the Global RegTech Summit stressed that data governance must be embedded across the entire organisation, the UK insurance sector came under strain from climate change and regulation, the EU ramped up it's cybersecurity efforts and REG joined Insure TV's MGA Masterclass ahead of MGAA Annual Conference to discuss the emerging opportunities for the sector.
The insurance industry is undergoing a significant digital transformation, leveraging advanced technologies such as artificial intelligence (AI), machine learning, and data analytics to enhance customer experiences, streamline operations, and develop innovative products. While these advancements offer numerous benefits, they also introduce new cybersecurity challenges...
Last month, the FCA decided to cut back on some of its regulatory requirements as part of its efforts to become a smart regulator, the use of AI among brokers and the value it delivers continues to be questioned, Coinbase's data breach exposed 70,000 users, sparking costs and a lawsuit, and REG attended the Global RegTech Summit, uncovering unique RegTech insights and trends that keep shaping the market.
Access our exclusive webinar exploring how modern insurance firms can radically improve their counterparty risk management and operational efficiency. With regulatory expectations rising and distribution chains growing more complex, compliance leaders are under pressure to adopt faster, smarter, safer processes.
Significant compliance mistakes can cause insurance firms considerable monetary and reputational harm. Although these mistakes can be made unintentionally, most of them can be avoided with proper training, research and solid RegTech systems in place...
We’re pleased to announce that REG Technologies is now an official Silver Sponsor of the Managing General Agents’ Association (MGAA) – a move that formalises over five years of close collaboration and shared commitment to the MGA community.
In B2B, particularly within the insurance and financial services sector, customer satisfaction transcends being a mere metric; it’s at the heart of everything we do. At REG Technologies, we know our clients aren’t just looking for software. They’re looking for peace of mind. They want a partner who understands the pressures of staying compliant and the complexity of their day-to-day. That’s why we focus on building real, trusted relationships to deliver life-long value...
Last month, the FCA launched its 5 year strategy with a focus on embracing tech and combating financial crime, AI adoption rose among brokers, the BoE announced initiative to accelerate insurer investment, CII called on firms to prioritise vulnerable customers and REG became an Annual Silver Sponsor to the MGAA...
Money laundering is a serious regulatory and financial offence — and in B2B contexts, the risks are magnified. Engaging with a high-risk counterparty, whether knowingly or not, can lead to hefty fines and lasting reputational damage that can shatter future business relationships. These breaches may be deliberate, but often they result from failed compliance due to poor systems, lack of oversight, or outdated processes that don’t keep up with today’s complex regulatory environment.
The war for younger talent in the insurance industry is an ongoing issue that many employers in the market are grappling with. Whether it’s the current number of younger ones working in insurance or ways to attract them into the industry, it’s a shared burden that many recruitment agencies and businesses are working very hard to overcome.
Ensuring fair value for consumers has become a central concern for insurance firms. Regulatory bodies, such as the UK's Financial Conduct Authority (FCA), have increased their focus on fair value assessments to ensure that products and services genuinely benefit consumers relative to their costs. This heightened scrutiny has prompted insurers and Managing General Agents (MGAs) to reassess their practices, resulting in significant operational challenges.
