’Our goal was to build a mainstream regulatory compliance solution that millions of people could use,’ says founder and chief executive
Regsearch is plotting its UK launch after inking an artificial intelligence (AI) partnership with the Isle of Man regulator.
Back in February 2024, the insurtech partnered with the Financial Services Authority to integrate its AI chatbot – Regi – with the regulator’s website in order to save time and automate compliance.
Now, Regsearch has plans to launch this proposition in the UK as “there is no mainstream regulatory compliance solution out there”, according to Darren Douglas, chief executive and founder.
He told Insurance Times: “We will expand into the UK in quarter four this year. We are in final discussions with some big corporates situated in the Isle of Man that have legal entities in both the UK and Ireland.”
Proposition
Regsearch’s proposition uses large language model (LLMs) to automate back-office compliance and risk frameworks.
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“Our goal was to build a mainstream regulatory compliance solution that millions of people could use,” Douglas said.
It has plans to launch a software as a service (SaaS) version of its application in the UK.
“That is the one we’ll be aggressively pushing into the UK market,” Douglas said.
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