The Managing General Agents’ Association (MGAA), the representative body for UK managing general agents (MGAs), has welcomed the launch of REG Risk 365 by REG Technologies.
The new module, part of the REG Network, is designed to enhance governance of counterparties across the insurance distribution chain.
The introduction of REG Risk 365 comes as risk in the insurance sector becomes increasingly varied and fast-moving. Geopolitical uncertainties, changes to sanctions regimes, greater anti-money laundering scrutiny, ESG considerations, and regulatory obligations under Consumer Duty are all influencing expectations of oversight.
At the same time, competitive pressures are driving faster distribution strategies, placing additional demands on onboarding and monitoring processes. With the delegated authority market continuing to grow, there is now little tolerance for governance shortcomings.
REG Risk 365 is intended to support insurers and MGAs in moving beyond periodic reviews and spreadsheet-based tracking. It enables firms to incorporate structured, configurable, and defensible counterparty risk assessments into their operational workflows, while drawing on real-time regulatory and compliance intelligence from the REG Network.
Mike Keating, CEO of the Managing General Agents’ Association, said: “The delegated authority market is in a strong position, but sustainable growth depends on robust and demonstrable governance. Counterparty oversight is central to regulatory confidence and capacity relationships. Platform solutions that support structured, consistent and auditable risk assessment will play an important role in reinforcing standards across the MGA community and critically remove frictional and unnecessary costs in consistently meeting the standards required by 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. Firms need oversight that is structured, consistent and aligned to their own risk appetite. As regulatory expectations intensify, risk frameworks must be active and continuously monitored, not revisited once a year.”
The platform enables firms to set and prioritise their own assessment criteria, integrate external intelligence alongside qualitative factors, and produce results that align with governance standards. Ongoing monitoring ensures that significant developments, such as sanctions changes, licensing updates, or adverse media reports, are captured and reflected in real time.
