Becoming an Authorised Representative is a quicker and easier route to becoming Authorised to sell regulated Insurance products than the long and arduous process and requirements necessary to become directly Authorised.
If you are looking to become FCA Authorised MDIS can help by appointing you as one of their Authorised Representatives.br>
Enquire with us today about becoming Authorised with us.
Designing suitable insurance products is a key part of becoming Authorised. We can assist in the development of products which satisfy the FCA’s requirements for clear, fair, balanced and concise products which provide sufficient value for money to customers.
The FCA’s value measures must be met to ensure products are suitable for sale to the general public including potentially value adults. Such products should meet the target markets requirements and expectations before they can be approved for launch.
Compliance is a major hurdle to becoming Authorised. MDIS can ensure you successfully navigate the route to initial compliance as well as maintain ongoing policies and procedures to ensure everything you do falls within the FCA’s requirements for ongoing supply of Insurance products.
Compliance touches everything you do, from the way documents are laid out to the words you use when you speak to customers. Everything you do should remain compliant at all times, anything you do which is not compliant risks falling fowl of the FCA’s regulations and potential fines and penalties. Our tried and trusted policies and procedures ensures you stay within the FCA’s current guidelines at all times.
Proper staff training is key to maintaining FCA compliance. All staff must ensure they have sufficient understanding of the broad insurance industry as well as knowledge about the products they sell and the key tenants of TCF.
MDIS can provide a framework for initial staff training in order to meet FCA requirements as well as the required ongoing CPD (Continuous Professional Development) to maintain the required number of hours of training as laid down by the FCA.
Working within the General Data Protection Regulations (GDPR) is essential in today’s regulated environment and is a prerequisite for continuined FCA compliance.
Similarly, for any card payments, the stringent security requirements of PCI-DSS (Payment Card Industry Data Security Standard) can be a real barrier to companies accepting and management customer payments by card.
At MDIS we have many years experience in servicing retail insurance customers. Our advanced policy management system inregrates policy setup, quoting, payment management, document management, renewals and the whole customer journey from start to finish all within one easy IT system.