How Faraday Underwriting
Scaled Broker Compliance and Enabled European Expansion with REG Network

Faraday replaced manual broker and coverholder compliance processes with automated oversight, real-time monitoring, and scalable onboarding using REG.



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At a glance:

  • 85%+ reduction in manual broker reviews
  • 200+ brokers reduced to ~30 requiring active review
  • European expansion across 4 countries enabled
  • Real-time regulatory alerts and monitoring
  • 300+ entities onboarded at go-live

 

At a glance:
Faraday Underwriting Logo

About Faraday Underwriting

With nearly 30 years’ experience, Faraday Underwriting is a Lloyd’s managing agent underwriting across specialist lines including Aviation and Casualty.

With a growing network of over 200 brokers and 150+ coverholders across the UK, Europe, and the US, compliance and oversight are central to its operations.

The Challenge

Faraday’s compliance function was managed by a small team responsible for onboarding and monitoring a large and growing network of brokers and coverholders.

Processes were entirely manual, requiring the collection, review, and approval of multiple documents before any trading could begin.

As the business expanded internationally, these challenges became significantly more complex.

Manual Bottlenecks

Manual Bottlenecks

Every broker required document collection, review, and internal approval before trading.

International Complexity

International Complexity

Accessing reliable data for European and US brokers was difficult and inconsistent.

Limited Scalability

Limited Scalability

A small team managing 200+ relationships created operational strain.

No Ongoing Monitoring

No Ongoing Monitoring

Regulatory changes and licence issues could go undetected between checks.

“This is something we’d never have picked up on before… it could have caused a big regulatory issue for us.”

James Wares, Delegated Authority Analyst, Faraday Underwriting

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How REG Helped

REG introduced a an automated, intelligence-led platform that transformed how Faraday manages broker and coverholder compliance.

 

Automated Risk-Based Triage Icon

Automated Risk-Based Triage

CreditSafe-powered A–E ratings allow low-risk brokers to be approved instantly, removing the need for manual review.

Centralised Documents Icon

Daily Regulatory Monitoring

Real-time alerts provide immediate visibility into licence changes, compliance issues, and risk events.

Scalable International Onboarding Icon

Scalable International Onboarding

Teams across Europe can independently onboard brokers without relying on central compliance.

Centralised Compliance Control Icon

Centralised Compliance Control

All broker, coverholder, and regulatory data is accessible in one platform.

“Without REG, that wouldn’t have been possible, at this scale anyway.”

James Wares, Delegated Authority Analyst, Faraday Underwriting

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The Impact

REG enabled Faraday to move from a manual, resource-constrained model to a scalable, growth-ready compliance framework.

 

85% Reduction in Manual Reviews

Automated triage reduced active review workload from 200+ brokers to around 30.

European Expansion Delivered

Faraday successfully launched operations across France, Italy, Spain, and Germany.

Proactive Risk Management

Regulatory issues are identified and resolved in real time, reducing exposure.

Faster Decision-Making

Teams can approve brokers and respond to opportunities more quickly.

Faraday

Ongoing value

REG continues to support Faraday as it scales its international broker and coverholder network.

The platform has become embedded across multiple departments, enabling faster onboarding, improved compliance control, and better internal collaboration.

As Faraday grows, REG ensures that compliance processes remain efficient, consistent, and scalable without increasing operational overhead.

 

Continued Value Delivered:

  • Scalable compliance operations
    Manage a growing global network without increasing manual workload
  • Cross-team adoption
    Compliance, finance, and international teams all operate within the same platform
  • Faster global onboarding
    Regional teams can onboard brokers independently
  • Real-time regulatory confidence
    Immediate alerts reduce risk exposure
  • Improved commercial agility
    Respond faster to opportunities without compliance delays
  • Future expansion readiness

    Infrastructure supports continued international growth

"I mean, 100% I'd recommend REG Technologies to someone else. 10 out of 10 if you want a rating. In terms of scalability and time management, it can massively improve not only your time management, but also enable you to look outwards to other business and not turn down business because you don't have capacity. I'd recommend it 10 out of 10."

James Wares

Delegated Authority Analyst, Faraday Underwriting

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