Insurance businesses are under increasing pressure to meet regulatory requirements for outsourced underwriting and claims arrangements, whilst maintaining profitability and managing the reputational risk of poorly managed outsourced relationships.

Learn more about Delegated Underwriting risk management >

MGAs are key to enabling insurers to reach new channels to market through their specialist product and underwriting knowledge and distribution capabilities. The management of these delegated arrangements takes significant oversight and appropriate controls to be put in place. In REG's experience, the problem with Delegated Authority governance is not that there is insufficient information, but rather that it is held in different silos within the business, not shared effectively, not updated on an appropriate basis to incorporate on-going Delegated Authority risks and not readily convertible to timely and relevant management information. Effective use of this information is essential to fully understand your distribution network and the potential exposure to your business resulting from weaknesses of the parties managing key functions such as underwriting.

The FCA demands >

That insurers and intermediaries should "review their existing monitoring activity and MI in relation to outsourced arrangements and allocated functions to assess whether this is appropriate" and "consider whether this information is reviewed appropriately, shared as necessary and acted upon. Where gaps and shortcomings are identified these should be addressed."

The PRA also "identified weaknesses in firms' oversight of underwriting and associated controls. In some cases, these issues have contributed to underwriting losses and/or deterioration in firms' solvency positions which have required remedial action by firms."

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All your Delegated arrangements managed in one place - control is no longer an expensive luxury.

Learn more about the Software >

myDUA delivers a simple and effective risk management tool supporting your risk appetite but also covering the key statutory and legal requirements for the engagement and management of your delegated arrangements. All delivered through an on-demand subscription service, with no IT installation costs or delays, you can be up and running immediately.

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Need a best in class Delegated Underwriting management solution to demonstrate governance? Reduce your risk with delegated arrangement oversight screening and due diligence assessment.

Learn more about The REG Network >

REG's myDUA is fully integrated to The REG Network. The REG Network provides global insurance market information and statistics, responding to firms' ever-evolving needs, delivering vital insurance information through a suite of accessible and innovative products and services.

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Risk Management allowing the management of binder/delegated arrangements through risk identification and monitoring against an ideal risk profile.

Learn more about Risk Profile Management >

Fully configurable risk management parameters that allow an insurer to manage the risk of the delegated arrangement and associated binder against their own risk appetite. Through a RAG rated approach, high risk arrangements can be identified immediately and as they occur. Further, identification of conduct risk above and beyond required levels can be made ahead of issues occurring.

Reduce the risk of FCA fines, reputational damage and financial risk to your business.

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Increased productivity through task management of risk and issues.

Learn more about Integtrated Workflow >

Workflow management of risks and issues against the underwriting plan can be raised and managed against. All tasks can be assigned to the most appropriate owner, tracked against due dates and the outcomes of which stored for audit trail purposes. Manage your binder renewal process ahead of time with the ability for the approvals process to be managed in parallel across all parties.

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Secure digital document exchange through GDPR compliant execution and retention of business contracts.

Learn more about Documents >

"My word is my bond."
Today data protection is highly regulated. Legal and regulatory requirements mean the back of an envelope is a thing of the past. Data security risks mean that paper trails and email exchanges are no longer acceptable, with version control and document retention bringing further challenges.

myDUA includes a full digital document exchange facility that empowers document offer, negotiation and acceptance to be managed in one secure place.
Making sure your contractual arrangements are up to date, secure and auditable has never been easier.

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Extensive out of the box reports providing real-time data on your delegated counterparties and binders.

Learn more about MI and Reporting >

The ability to have real-time data to understand where your loss funds are, how exposed you are to a certain line of business and where high-risk arrangements have the potential to cause issues and just a sample of the reports that are provided out of the box.

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API based technology enabling rapid connection of REG data to your other applications.

Learn more about Integrations >

It's good to talk.
An API is a software intermediary that enables two applications to talk to each other. Just as the REG suite of applications is connected through APIs, our data can be integrated into your systems too. Imagine populating board reports with key management information in beautiful visual reports. In fact if you can imagine it, we can make it happen.

Get in touch

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Contact us:

Email: info@reg.uk.com

Tel:     0203 946 2880

Visit:   The Studio,
           52-54 Gracechurch Street
           London
           EC3V 0EH

Or we'll contact you: