New strategic partnership to help insurers and intermediaries gain full oversight of their regulatory risk

Governor Software and Sicsic Advisory unite to provide online compliance solution to support Senior Managers in the insurance industry

Governor Software and Sicsic Advisory today announced a new strategic partnership to revolutionise how UK regulated insurance firms can stay compliant in a constantly evolving regulatory environment.

Uniting Sicsic Advisory’s strength and understanding of the UK regulatory environment for insurance with Governor Software’s live version of FCA and PRA Handbook, that enables firms to map, track and report regulatory compliance, will transform how the insurance industry ensures it meets regulatory expectations.

Working together means that Governor Software has been able to combine its industry-leading track record of innovation in governance and oversight with Sicsic Advisory’s expertise, insight and unparalleled understanding of the regulatory environment within the UK insurance industry.

This new offering comes right on time to support Senior Managers that have to evidence “reasonable steps” to ensure compliance with all regulatory requirements as part of the extension of the Senior Manager and Certification Regime (SM&CR) which is now live for all financial services firms.

Michael Sicsic, Managing Director, Sicsic Advisory said “I see this as a unique opportunity to support firms of various size and complexity, and help them digitalise key compliance processes by using this innovative RegTech solution. This will allow insurers and intermediaries to design an outcome-driven compliance program and to be able to demonstrate compliance in an ever-changing environment.”

Richard Pike, Founder and CEO, Governor Software, commented: “Financial institutions are under increasing pressure from the regulator to demonstrate compliance to FCA and PRA regulation. With Governor, insurance firms will have already stored their compliance data in the regulator format, in accordance to the Handbook structure, easing the burden of audit and  regulatory reviews.

Richard Pike, continued “Governor has been specifically developed in conjunction with the FCA utilising Governor Software’s unique visualisation technology to provide regulated firms with their own unique version of the FCA Handbook along with other regulations.

Author: Yash Hirani

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