When the FCA’s Fair Value reforms came into effect in January this year, the impact was, and still is, far reaching – much more so than many realised. However, the emphasis on brokers to show that they are providing Fair Value to customers is actually proving to be a benefit to some.
Time is running out for many London Market brokers, as the costs of regulatory compliance are set to rise as a result of the FCAs new fair value pricing rules, yet many brokers are not aware of how the regulations will affect them. Here we explore the issues and the answers that Novideas technology can provide.
With hybrid working set to become the new normal in the UK insurance industry, brokers are addressing both the challenges and potential benefits. In particular, remote working has given rise to new data management challenges, while also exacerbating pre-existing issues. In this article, well explore the top data challenges brokers face, as well as how they can be solved.
The shift to online and remote working in the broking industry has been phenomenal. Now is the time for brokers to future-proof their operations and turn the new normal into business as usual to lay the foundations for the future of broking. From our research, heres the view from brokers on plans for digital transformation and business change in 2021 and beyond.
The UK broking industry sees remote working as both a challenge and an opportunity. In this article, we examine what brokers have to say on the topic and what this means for the future of broking.