The Managing General Agents’ Association (MGAA) has welcomed the launch of REG Risk 365 by REG Technologies, a new module within the REG Network designed to strengthen counterparty governance across the distribution chain.
The launch comes as risk across the insurance market becomes increasingly complex and fast-moving. Geopolitical instability, evolving sanctions regimes, heightened AML scrutiny, ESG pressures and regulatory accountability under Consumer Duty are reshaping expectations of oversight. At the same time, competitive market conditions are accelerating distribution strategies and increasing pressure on onboarding and monitoring processes.
While the delegated authority market continues to grow, tolerance for governance failure has reduced significantly.
REG Risk 365 has been developed to help insurers and MGAs move beyond periodic reviews and spreadsheet-based tracking. The solution enables firms to embed structured, configurable and defensible counterparty risk assessments into operational workflows, supported by 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, said: “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 allows firms to define and weight their own assessment criteria, incorporate both external intelligence and qualitative considerations, and generate outputs aligned to governance thresholds. Continuous monitoring ensures that material changes, from sanctions updates to licensing amendments or adverse media alerts, are reflected in real time.
For further information, visit: REG Risk 365 – REG Technologies
