Jensten teams up with RiskSmart to further strengthen risk management framework
Insurance brokerage firm Jensten has partnered with Manchester-based RegTech startup RiskSmart to enhance its risk management capabilities. After closing 2023 with 12 strategic acquisitions, including its largest yet, East Anglian-based One Broker Group, Jensten has continued its growth trajectory by announcing four more acquisitions this year, with further expansion plans in the works.
With nearly 1,000 employees, Jensten recognises the need for a scalable and robust risk management system to support its ongoing growth. The company believes that an efficient and engaging risk management platform is crucial not only for delivering outstanding client service but also for fostering a positive work environment and strengthening overall risk management.
To this end, partnering with RiskSmart, a northern RegTech firm specialising in Governance, Risk, and Compliance software, has become a central element of Jensten's growth strategy.
"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, customisable, 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 aspects of the partnership include:
- Strengthened Risk Management: Jensten will integrate RiskSmart's cutting-edge technology into its operations, implementing a scalable Risk Management System designed to grow with the company.
- Pioneering Solutions: RiskSmart offers an innovative approach to risk management, empowering Jensten to uphold high standards in risk oversight and compliance.
- Adaptable Framework: As Jensten expands, the collaboration ensures its risk management framework remains flexible and capable of meeting evolving challenges.