RWA launch a new qualification for brokers
by Robin Wood
As RWA ’ s contribution to Professionalism , we have decided to be really positive and create a qualification that insurance brokers can use to open doors , do more business and also to cover off some of the risks of a negligence claim .
FCA announce a review of the claims process
The FCA has just announced a thematic review of the insurance claims process , focusing on household and travel claims particularly .
• Accredited by the Institute of Export as a certificated qualification
• Online , so study in your own time and at your own pace
• Opens up a new market for insurance brokers with clients and prospective clients who import and export
• Gives brokers the confidence to advise on suitable covers for importers and exporters
• Can be studied as part of a CPD programme
• Student membership of the Institute of Export comes as part of the package , giving access to other IoE resources and benefits
“ Two years in the making The Certificate in International Trade for Insurance Brokers has been designed by RWA in conjunction with the Institute of Export specifically to help Brokers understand the needs of clients in the specialised markets of import and export .
The process of Import and Export needs to be understood if it is relevant to the Demands and Needs of the customer both in terms of recommending suitable cover and also assessing adequacy of sums insured and indemnity periods .
For Insurance Brokers already advising in the area , it offers the opportunity to reinforce knowledge and ensure that accurate advice is being given to their clients .
For Insurance Brokers who are missing out on this important class of business it offers the opportunity to explore a new income stream , confident that they will have the knowledge and understanding of the unique needs of this specific client base .
A certificate is awarded on successful completion , carrying the designation ‘ CITIB ’, enabling your clients to feel confident that they are dealing with an insurance adviser who understands the demands and needs of their business .”
Their review has been driven by the increased number of complaints from policyholders surrounding delays , poor levels of customer service and the increasing amount of valid claims which appear to be declined . These are areas which are giving the regulator cause for concern .
The review will involve insurers , brokers and policyholders .
For brokers it will focus initially on the sales process , to identify if the correct client information is gathered , the right product is being sold and the relevant information given to the client .
The results of the thematic review are expected to be published by the end of 2013 .
The FCA hopes that the industry will then be in a position to deal with the issues itself , rather than the FCA having to make new rules . This is certainly the most desirable outcome and the industry has in the past shown it has the appetite to deal with such issues – for example , the matter of contract certainty .
Further details can be found from Martin Wheatley ’ s speech to BIBA at :– http :// www . fca . org . uk / news / firms / meeting-thegrowth-challenge
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