Leading RegTech reduces the cost and time of issuing GDPR compliant TOBAs

09 April 2018 – REG (UK) Ltd, (REG), the award-winning RegTech solution for counter-party risk management in the general insurance market, has reduced the cost of issuing GDPR compliant TOBAs for its customers in an attempt to help clients meet the 25 May deadline.

REG’s due diligence monitoring and alert service already streamlines legal and regulatory oversight functions for its UK and internationally focused customers. The RegTech leader has now updated its digital TOBA exchange service to include the new Lloyd’s Market Association GDPR TOBA templates, as well as enabling its customers to create and exchange their proprietary documents. Firms receiving new TOBAs via REG can create an account, accept and return documents and share other requested information at no additional cost.

REG Managing Director Paul Tasker said:

“Our mission is to ease the burden of legal and regulatory processes in the insurance industry. We understand that events such as GDPR necessitate the restructuring and issuing of new business agreements. That’s why we have made this an included and unlimited service for all our customers. Firms accepting TOBAs can now register, approve and return documents at no charge”

REG customers have reported that the digital solution provided a 75% reduction in time to complete a TOBA issue, as well as a significant reduction in time to complete acceptances, the progress of which is tracked and audited by the REG system.

Paul Tasker
Paul Tasker
Paul Tasker is the CEO at REG Technologies. An insurance market veteran Paul is passionate about disruptive technologies and innovations that can drive growth, reduce risk and enable businesses to thrive.
Connect on LinkedIn and find out more about how REG can help you, or call 0203 946 2885.

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