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Email Marketing InformationCleverDocs for IFAs - Compliance, Relationship and Document Management system specifically for Independent Fiscal Advisors
by:
Sarah
Cost of compliance with new FSA regulations can now be reduced
The additional cost of compliance with the new FSA (Financial Services Authority) regulations for insurers can now be contained thanks to Accounting Products (www.cleverdocs.co.uk) accrued client relationship/document management software system CleverDocs for IFAs.
Accounting Products document management system – CleverDocs for IFAs - has already well reduced operational price for Denyer Insurance by streamlining galore of the processes for compliance, sales, client interaction and document management. Denyer, which pioneered commission-free life, critical illness, pensions and general insurance, oversubscribed via the internet, is the 1st IFA to incorporate the accrued software. CleverDocs for IFAs helps ensure this by up productivity across all aspects of an IFA business:
• Compliance
• Business Management
• Relationship Management
• Document Management
• IFA Intelligence
Compliance
Comprehensive client and policy registers
Fact find recording
Terms of business agreement status
Logged communications with providers and clients
Business Management
Financial Services and General Insurance
Commission statements can be retrieved by time and/or providers
Renewal commission prediction
Commission trailing at IFA, insurance company and even as client level
Reduced administration
Greater responsiveness
Business Intelligence
Relationship Management
Client policy history and status is accessible on-line
Authorised agents have access to documents
Automated communications with clients once
policy status changes
Standard letters can be created and sent mechanically
Document Management
All communications scanned and accessible on line
Documents can be filed against providers, clients and policies
Documents can be filed against any number of clients and policies
Thumbnail view of documents accessible for quick reference or
Documents can be opened and printed, emailed or faxed from the screen
IFA intelligence
Comprehensive policy register
One or multiple parties to a policy
One or multiple lives to assure
Policy extensions
Key dates accessible on policy records (Application, Acceptance , On-risk)
Reasons (Letter, Objectives, Risk Attitude)
Policy amount (internal and provider)
Status policy application with compliance/sales process
Advice and policy history accessible
From 2005 the new FSA regulations wish demand accrued transparency and compliance auditability. Simon Hill, Managing Director of Denyer says “while creating a new way of merchandising insurance, it became apparent that we besides had to interact
our business in a new way. The cost of dealing with paper has always been a key factor in operational a paper based business. The production of CleverDocs has allowed us to automatize galore processes. From an initial interest on our website through to policy acceptance and follow-up we have been able to do the most of our key processes to become paperless and yet retain the feel, as far as clients are concerned, that we are looking after their inevitably in a traditional manner.”
CleverDocs was created on time, on budget and, after three years’ around-the-clock operation, without a single failure”. He continuing
“after we enforced
CleverDocs and went live, we were able to instantly interact
much business and release staff to do much productive work. We besides had one place for client records, quotes, policy documents, e-mails, correspondence etc. With this system in place, everything became accessible at the touch of a button”.
Just about the author:
Married woman Seddon Marketing/PR Manager for Accounting Products Ltd, telephone: 020 7043 7108
Email sarah.seddon@accountingproducts.co.uk
Main website: www.accountingproducts.co.uk
Simon Hill, Managing Director, Denyer Insurance
Website: www.cleverdic.co.uk
Note to editors: Accounting Products Ltd, based in 2001, provides specialist and tailored software system such as free software system for GL, AP, AR, supply chain management, light manufacturing, warehouse management, call centre management, voicemail, voicemail to e-mail, remote worker support, CMS and VoIP. Accounting Products besides offers document management systems, bank reconciliation, cash prediction and control, as well as consulting. Clients include Axa, Mace, UPP and Denyer Insurance.
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