Last month, experts dispute FCA concerns over brokers’ compliance with fair value, whilst the regulator tightens focus on premium financing firms, banks are warning customers about “quishing” scams, scientists achieved a breakthrough in DNA data storage, the FCA reveals ongoing issues of workplace misconduct in the London insurance market, emphasising the need for cultural change...
The FCA’s latest report on Product Oversight and Governance (PROD 1.4 and 4) for General Insurance and Pure Protection products has issued a clear call to the insurance industry: it’s time to ensure products genuinely meet customer needs and deliver fair value. Amid today’s challenging economic climate and an escalating cost-of-living crisis, regulators are emphasising the importance of fair treatment and strong customer outcomes more than ever...
Every year on October 10th, we observe World Mental Health Day, a moment dedicated to raising awareness about mental health issues around the globe and one that encourages worldwide conversation about mental health. In the workplace, where we spend a significant portion of our daily lives, mental health is a critical topic. Addressing mental health not only supports individual employee well-being but also enhances overall organisational health through improved productivity and engagement.
Technology often feels like an unstoppable force, transforming industries, automating processes, and reshaping how we live and work. While these advancements bring incredible opportunities, they also come with some aspects of apprehension. From concerns about job displacement to fears of a faceless, algorithm-driven future, many people view technology with a mix of both excitement and anxiety.
Last month, the FCA released its Product Oversight and Governance review and increased scrutiny of Principal Firms' oversight on ARs, REG partnered with Insurance Post to debate whether RegTech is a luxury or a necessity for tackling regulatory challenges, Insurance Business TV featured industry leaders discussing DEI and talent issues in the insurance sector, and rising concerns over deepfake and document fraud continue to affect the industry...
The life insurance industry is grappling with increasing regulatory demands and outdated manual processes, both of which make effective counterparty due diligence and oversight hard to uphold. To meet the regulatory requirements from the FCA and PRA, firms operating in the life insurance sector must ensure their operations and counterparty due diligence is constantly a key compliance priority. Managing these challenges with traditional outdated, often manual approaches, is no longer sufficient, and the growing need for sophisticated compliance systems is proving essential to meet the demands of regulatory obligations and enhance compliance...
The life insurance industry is facing numerous challenges that impact efficiency within compliance functions, including manual processes, heightened regulatory scrutiny, data silos, and the increasing difficulty of attracting skilled professionals. These inefficiencies slow down business operations, increase the risk of compliance errors, and strain resources. However, technology solutions, particularly RegTech, presents an opportunity to modernise how life insurers operate by enhancing efficiency, improving accuracy, and optimising resources...
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...
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