PIB Group chooses REG to streamline agency management
30 April 2018 - The REG Network, the online due diligence and regulatory compliance platform administered by REG (UK) Ltd (‘REG’), has been selected by the PIB Group (‘PIB’) to provide counterparty due diligence and agency management across all of its portfolio companies. PIB is one of the fastest growing group of insurance brokers in the UK. PIB will utilise the REG Network to establish new agencies, administer existing broker relationships and to facilitate regulatory oversight and governance.
Nicholas Phair, Managing Director of REG, said: “We are delighted to be working with PIB. More than 85% of firms across PIB’s broker portfolio are already registered on the REG Network. This will allow for faster and more seamless business critical agency administration from day one.
The REG Network will allow PIB and their producing brokers to save time and cost, reducing the burden of repetitive manual inputs and checks of key corporate and regulatory data.”
Jon Stanley, PIB Group’s Chief Risk Officer, said: “REG has proven to be an invaluable business partner for facilitating our processes and controls; we look forward to working with them further as we grow our UK presence and implement best-of-breed solutions providing better service to our growing and valued agency base.”
REG continues to develop the features available within the REG Network to support the requirements of its clients, members and the insurance industry.
ENDS
For more information, contact:
Full Circle Corporate Communications
Mark Huxley, mhuxley@fullcirclecomms.co.uk
Matt Beasley, mbeasley@fullcirclecomms.co.uk
Tel: + 44 (0)207 267 7887
About REG
REG provides technology driven intelligence, due diligence and risk management solutions.
Through the REG Network, an on-demand service, REG has transformed counterparty compliance due diligence processes and accelerated agency documentation exchanges in the insurance market. REG provide a range of services for Insurers, Lloyd’s Managing Agents, MGA’s Wholesalers and Brokers all of whom are required to have oversight of their relationships with each other as well as their policyholders. For more information please visit www.reg.uk.com
About the PIB Group
PIB is a growing group of insurance advisory businesses. Launched in 2015, it has grown rapidly through acquisitions and by employing outstanding individuals with specialist knowledge and experience across the insurance market.
The Group is bringing together companies and individuals recognised as leaders across a range of specialist markets and uses the expertise and insights gained over many years to deliver the highest levels of service to its customers.
The Group offers a range of specialist teams, products and services to clients throughout the UK and Channel Islands and operates from a growing network of offices currently in London, the Midlands, the North, Scotland, East Anglia and the South West, as well as Guernsey. For more information please visit www.pibgroup.co.uk