Leading insurance brokerage firm, Jensten, has paired up with Manchester-based RegTech startup, RiskSmart.
Jensten concluded 2023 with 12 strategic acquisitions, including its largest to date, East Anglian-based One Broker Group. Continuing this momentum, Jensten has announced four more acquisitions this year and is preparing for further strategic growth.
As Jensten nears 1,000 employees, a robust, scalable risk management system to support organic growth and continued expansion is essential. Jensten believes an effective and engaging risk management platform supports the provision of exceptional service to clients, and a positive work environment for colleagues, as well as enhancing risk management overall.
A key part of their strategy has been teaming up with RiskSmart, the northern RegTech specialising in Governance, Risk, and Compliance software.
"When selecting a Risk Management platform, it was important for us to find one that was simple to use. The intuitive user interface and AI-assisted features within RiskSmart significantly simplify the risk management process, making it accessible to a broader range of users within our business,” said Steve Folkard, Chief Risk and Compliance Officer at Jensten.
As one of the UK’s fastest-growing brokers, Jensten needed a solution that was simple to navigate, customizable, and offered innovative functionality and tools.
“Additionally, the customizable dashboards and automated control test reminders make managing risk hierarchies much more efficient. As a growing business, RiskSmart's scalable solution will be an essential tool, supporting our expansion and ensuring that risk management remains a core aspect of our business development."
As many companies are experiencing growth in uncertain times, RiskSmart has seen an influx of companies needing a simple and straightforward solution to Risk Management that will be able to grow with their company’s ambitions.
RiskSmart Co-Founder Ryan Swann added: "We are thrilled to partner with Jensten during this exciting period of their growth. Our technology is designed to provide robust risk management solutions that adapt to the needs of rapidly expanding companies across a wide range of sectors. We look forward to working with Jensten to help them build operational resilience for the future.”
Key highlights of the partnership:
Enhanced Risk Management: RiskSmart's advanced technology will be introduced to Jensten's operations, providing a comprehensive Risk Management System capable of scaling alongside the company's growth.
Innovative Solutions: RiskSmart brings an innovative risk management solution that will support Jensten in maintaining ambitious standards of risk oversight and compliance.
Future-Ready Framework: As Jensten continues to grow, the partnership ensures that its risk management framework remains agile and responsive to evolving and increasing demands.
