The Managing General Agents Association (MGAA), the representative body for UK Managing General Agents (MGAs), welcomes the launch of REG Risk 365 by REG Technologies.
The new module is part of the REG network and is designed to enhance counterparty governance across the insurance distribution chain.
The launch of REG Risk 365 comes at a time when risks in the insurance industry are becoming increasingly diverse and rapidly changing. Geopolitical uncertainty, changes in sanctions regimes, tighter anti-money laundering scrutiny, ESG considerations and regulatory obligations under consumer responsibility are all affecting regulatory expectations.
At the same time, competitive pressures are driving faster distribution strategies, placing additional demands on onboarding and monitoring processes. As the licensing market continues to grow, there is now less tolerance for governance flaws.
REG Risk 365 is designed to support insurers and MGAs beyond periodic reviews and spreadsheet-based tracking. It enables firms to incorporate structured, configurable and defensible counterparty risk assessment into their operational workflows while leveraging real-time regulatory and compliance intelligence from the REG network.
Mike Keating, chief executive of the Association of Managing General Agents, said: “The authorized market is in a strong position, but sustainable growth depends on robust and demonstrable governance. Counterparty oversight is at the heart of the regulatory confidence and competency relationship. Platform solutions that support structured, consistent and auditable risk assessments will play an important role in strengthening standards across the MGA community and remove friction and unnecessary costs in delivering standards that consistently meet the requirements of all key stakeholders.”
Zoë Parsons, head of marketing at REG Technologies, added: “Counterparty risk is no longer a back-office compliance task. It is a strategic governance priority. Businesses need oversight that is structured, consistent and consistent with their own risk appetite. As regulatory expectations increase, risk frameworks must be monitored proactively and continuously, rather than revisited annually.”
The platform enables companies to develop and prioritize their own assessment criteria, combine external intelligence with qualitative factors, and produce results that comply with governance standards. Continuous monitoring ensures that significant developments such as sanctions changes, licensing updates or negative media coverage are captured and reflected in real time.
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