Our Customers

Insurance Companies, MGAs, Brokers and Intermediaries all have different operating models but are all regulated and exposed to commercial and legal risks arising from their trading partners. REG has created a suite of subscription services that can be packaged to meet the needs of any business operating in (re)insurance.

For The Insurance Sector

REG only provides its services to the insurance sector. Our knowledge and experience has enabled us to build our unique suite of services for insurance firms. That’s why we are a trusted provider to customers throughout the sector, all different, but all safely protected by our data, surveillance and tools.
REG for Brokers
REG for MGAs
REG for Insurance Companies
Our Customers Include

Powering leading insurance businesses

Case Studies

How REG helps leading Insurance Companies

PROPERTY PROTECTOR

How REG streamlined appointments of new brokers and provided a robust compliance system to allow for smarter decision making
READ HERE

ARC LEGAL GROUP

How REG centralised Arc Legal Group's due diligence and compliance processes to increase their credibility to auditors
READ HERE

CNA HARDY

How CNA Hardy used REG Network to streamline broker onboarding and management processes
READ HERE

LOREGA

How REG improved regulatory oversight of brokers and enhanced internal efficiencies
READ HERE

Testimonials

What people say about us and our

services

The REG system has helped us streamline our processes in relation to our Producers and has made the due diligence process much simpler and time efficient. Also, the REG team have consistently made efforts to help with all our queries and have been very receptive to add features to the system.
Alice MarcuCompliance Manager
Alice Marcu
Atrium has used REG's Broker monitoring tool for several years now. Increasingly we are seeing acceptance from Brokers to use the facility as it aligns with market wide initiatives for electronic trading. There is also the increased pressure on time, and anything that automates and simplifies business processes is a welcomed improvement. REG fulfils those objectives!
John MoffattSenior Compliance Advisor
John Moffatt
The REG Network is a benefit the Insurance industry needs to get a hold of! REG solutions are now at the heart of our Broker onboarding and management process. Since partnering we have enjoyed a first class personal relationship and service with people that understand our business. We benefit from real time regulatory oversight and automated alerts and have achieved material efficiencies in our working practises.
Andy ClementsHead of Distribution, Marketing & Sales
Andy Clements
Management of our Agency database has been significantly enhanced during our 5 year partnership with REG. The REG solution is embedded within our Agency processes. Having real time notifications of legal or regulatory changes to our Broker partners is invaluable and allows us to react swiftly.
Scott MusselwhiteAgency & Credit Risk Controller
Scott Musselwhite
We have used REG’s services for several years now and it has improved our ability to efficiently manage the legal and statutory risks throughout our distribution chain. The online platform allows us to retain all of our third-party information in one place and is easy to manage. REG enables us to undertake simple and speedy onboarding due diligence, the email alerts provide us with real time ongoing monitoring ensuring our oversight accurately reflects our third-party partners current position.
Sean KilbournDirector of Business Control & Governance
Sean Kilbourn
REG gives us peace of mind. Checks that we were doing on a periodic basis are now done automatically with any changes brought to our attention when they happen. It is now an integral part of our systems that we would not want to lose. We don’t know of any system that can do it as well as REG can.
Nick CarrGroup Compliance Officer
Nick Carr
Using the REGTech monitoring services for our Sub-Agents and Authorised Representatives saves us so many hours each month compared to carrying out manual checks on numerous websites. REG enables us to issue Terms of Business Agreements in seconds and create reports for Insurers or Regulators in minutes. The team that we deal with are very friendly, nothing is too much to ask of them, and they can even create specialist reports when we need them.
Sarah MillsCompliance Officer
Sarah Mills
We’re getting on with the new system well and remain happy with it.  We went through an audit late November last year, and the auditor was pleased to hear we were making good use of REG.
Simon PageFinancial Controller & Associate Director
Simon Page
The REG service has eased our hefty administrative burden immensely. The REG alerts are the fulcrum point of our Broker monitoring process and enable us to manage our large portfolio by exception. The information, which is easy and speedily accessed from REG is invaluable too.
Malcolm JeffreysCompliance & Risk Manager
Malcolm Jeffreys
We’ve used REG for a number of years now, and it helps us manage our relationships with other Brokers. It takes a lot of the time out of the due diligence process for us, and we would recommend it to others!
Gill DodsworthSecretary/Audio Typist
Gill Dodsworth
You would be crazy not to try this product, it takes all the pain out of manually monitoring the entities you trade with!
Jules StekelenburgChartered Insurance Risk Manager
Jules Stekelenburg
We're glad we decided to work with REG. The REG system is intuitive and ensures a quick and organised management of our Brokers network. It allows us to screen entities (i.e. credit risk) before entering into TOBAs with them, and if satisfactory, a TOBA can be put in place in seconds. This also benefits the business. I have hardly had any problems at all and customer service is efficient and quick. Well done!
Macarena Correa RuizAVP, Associate General Counsel
Macarena Correa Ruiz
The key win in using REG's platform is improved processing and oversight of data. Without doubt, our Broker onboarding and management processes are now more structured, more straightforward and more efficient. The alerts and notifications the REG Network provides enables better, more constructive two-way conversations with our Broker agencies.
Lee BennettDirector of Operations
Lee Bennett
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Simple, cost-free membership

A simple, cost free membership allows you to exchange your due diligence data with our customers, reducing repetitive data requests you receive from trading partners. 3,500+ UK insurance firms are already members of the REG Network. Members can then subscribe to our services, picking the appropriate solutions to cover the risks and needs of their operating models and not paying for services they don’t need.
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FAQs

A business credit score calculates the probability of a company becoming insolvent within the next 12 months. We highlight creditworthiness through a red/amber/green system of credit scoring, with a result of 1-100. Any changes to scores are reported to users by alerts and dashboards.

REG data is collected from hundreds of sources including sanctions lists, and official registries like Companies House. We are constantly reviewing quality and consistency of data sources to ensure we deliver high quality, up-to-date information.

The Anti-Money Laundering regulations are governed by 4 Acts: The Proceeds of Crime Art, The Serious Organised Crime and Police Act, The Terrorist Act and the Money Laundering Regulations. Failure to report suspicious activity can carry a criminal sentence and lead to substantial fines from the relevant regulatory body.

On 10th January 2020, changes to the UK Government Money Laundering Regulations came into force. They update the UK’s AML regime to incorporate international standards set by the Financial Action Task Force (FATF) and to transpose the EU’s 5th Money Laundering Directive.

The risk-based approach means a focus on outputs. Firms that apply a risk-based approach to anti-money laundering (AML) will focus AML resources where they will have the biggest impact.

Firms must have in place policies and procedures in relation to customer due diligence and monitoring, among others, but neither the law FCA rules prescribe in detail how firms have to do this. Firms’ practices will vary depending on the nature of the money-laundering risks they face and the type of transactions processed.

Firms applying a risk-based approach need to be proactive in seeking out information about money-laundering trends and threats from external sources, such as law enforcement, as well as relying on their own experiences and observations. This allows firms to effectively review and revise their use of AML tools to fit the specific risks that they face.

Standard AML checks do not screen clients against Her Majesty’s Treasury (HMT) list, while PEPs are not necessarily included in financial sanction checks. FCA registered companies are required to run the checks as day-to-day due diligence, not only to reduce their own company’s risk exposure, but to also comply with the current guidelines and stay within the law. With a 30-40% increase every year in the PEPs list alone, it is important to screen new and existing clients to make sure they are compliant with the AML guidelines.

This check will allow you to see if a company has been sanctioned or if a politically exposed person has a connection to the company. There is no unique definition of a PEP, in fact the criteria varies from country to country and even company to company. A PEP does not necessarily mean someone who is involved in politics, it could include immediate family members, close business associates or even senior executives. These are key individuals and are important to check as a PEP presents a higher risk for potential bribery and corruption due to their position in society and the influence they may hold.

If a company has been sanctioned they have been issued a penalty by law for failure to comply with a court order, law or regulation. It is illegal to deal with a sanctioned company, so it is important to run a check on them and be compliant with the current guidelines set in place. If your company deals with a sanctioned company, even if you are a limited company, you may be personally prosecuted for this and could risk going to jail.

Your customers’ circumstances can change frequently, meaning that a historic check may not reflect a customer’s status now. For this reason ongoing monitoring is a critical component of your compliance with the 5th Anti-Money Laundering Directive.

There is no definitive guideline to say how often your PEPs and Sanctions should be updated. However, our ongoing monitoring service will check the status of the customers you monitor on a daily basis to keep your records up to date.