At REG, we are on a mission to build the largest and most trusted B2B network in the insurance industry. We understand that businesses need to connect quickly and confidently when forging new relationships, without the burden of regulatory obligations slowing them down. That’s why we created REG Verified — The Trusted Status for Businesses...
Join us as we interview industry leaders, uncover key trends, and deliver actionable insights that empower you to drive the insurance and financial services sector forward. On July 11th, REG Technologies attended the MGAA Annual Conference as a key sponsor. As part of the day we spent time talking to key players in the MGA sphere about the challenges and opportunities in the market and how the 'Power of Partnerships' is crucial to advancing the sector forward...
Last month, the FCA published a discussion paper aimed at bettering the commercial regulatory landscape, the average UK home insurance has skyrocketed, the increase in severe weather damages is compelling insurers to think of stronger strategies, and REG's new module REG Verified is set to revolutionise the insurance market...
MGAs play an irreplaceable role in the insurance sector, and while it’s crucial for them to be on top of all their regulatory and compliance duties, they also need to ensure seamless customer experience (CX) and retention. At the end of the day, customers should always be at the heart of every business decision because without them, no firm would survive. In addition, MGAs need to ensure they’re always treating their clients fairly. According to Forrester, 41% of customer-obsessed firms achieved at least 10% revenue growth in 2023, compared to only 10% of less mature firms...
As sponsors of this year's MGAA Annual Conference, centred around the Power of Partnerships, REG proudly presents, Marketing Manager Zoë Parsons and Head of Customer Success Nathan Banfield. Watch below as they share their insights on leveraging relationships to drive strategic initiatives and elevate customer experiences, demonstrating our commitment to innovation and community-driven success.
The pressure to address climate and social issues is greater than ever. Companies are now scrutinised by watchdogs, employees, investors, and customers, all demanding thorough documentation and assessment of their strategies for tackling these crises. Environmental, Social, and Governance (ESG) issues have become integral to a business's overall strategy, and stakeholders are increasingly unwilling to trade with companies that fail to take these pillars seriously...
Last month, the FCA urged financial firms to improve their treatment of politically exposed persons (PEPs), a major IT outage led to a potential rise in claims, the UK motor insurance sector faced major underwriting losses due to the current economic and political climate, and the insurance industry is supporting $19 trillion in net zero investments by engaging in greener projects...
As the July 31st deadline for Consumer Duty board reports approaches, effective reporting on assessment processes and positive consumer outcomes has never been more critical. The FCA states that fair value is the biggest challenge under the Consumer Duty, with firms managing diverse product lines and extensive distribution channels encountering heightened difficulties in gathering and processing data. Establishing a robust system capable of continuously requesting, acquiring, and analysing data from any size distribution network is essential for conducting thorough assessments. Those still reliant on emails and spreadsheets, rather than specialised digital solutions, find it challenging to manage these tasks effectively...
In the financial services arena, Anti-Money Laundering (AML) professionals are constantly seeking innovative ways to enhance the efficiency and accuracy of Know Your Customer (KYC) and Know Your Business (KYB) processes. One of the most transformative technologies in this arena is AI. By integrating AI into KYC and KYB procedures, financial institutions can significantly streamline their operations, particularly in areas such as analysing Politically Exposed Persons (PEPs) and sanctions screening data...
Last month, the growing threat of summer floods was highlighted, urging both policyholders and insurers to take proactive steps. The FCA's Market Watch 79 emphasised the importance of strong data management in surveillance against market abuse, firms were reminded that the Consumer Duty is not a 'one time requirement', but a continuous effort, and REG is excited to sponsor the upcoming MGAA Annual Conference and collaborate with MGAs about the value of partnerships…
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