Insurance Intermediaries
We provide a range of services that can be tailored to the different demands and needs of different types of insurance intermediary.
Our clients in this sector are very varied and include:
- Life and general insurers;
- Traditional insurance brokers;
- Retailers selling financial products and services;
- Intermediaries trading via web-based channels, including generators and aggregators; and
- Large scale Call-Centre providers.
In particular, we have assisted a number of firms in motor-related business, including accident management, vehicle hire and motor sales with issues arising from the regulation of general insurance. We have helped them with identifying and categorising their regulated activities, FSA applications, appointed representative agreements, ongoing compliance, and full-scale compliance reviews. We have done similar work with clients in businesses as diverse as healthcare, travel and building services.
Over the last few years the FSA have greatly improved their communication with smaller insurers and insurance intermediaries but, with the best will in the world, the FSA's material has to be fairly generic and many firms still need help in identifying what is most important for them.
Other firms may need assistance in completing and submitting their regulatory returns or in dealing with the occasional FSA query. Our basic support service, which combines a tailored newsletter/reminder service with a modest amount of consultancy support to be called upon as required, is designed to fulfill this "hand-holding" need, and many of our insurance intermediary clients use it for this purpose.
In addition to this basic support service, we can also help insurance intermediaries navigate the FSA hot topics and prepare for forthcoming regulation, be it domestic or European.