Does your FSA compliance match ‘best practice’ within the broking community?

Insurance Broker Management And Compliance Solution – iBMACS is a web-based solution that greatly assists firms in achieving and maintaining compliance by:

• Embedding compliance in more than 30 critical FSA areas such as Client Money, Insurer Money, Business Continuity Plans, Conflicts of Interest and Treating Customers Fairly. iBMACS also provides full audit trails and the ability to assign actions to other users.
• Providing access to clear English guidance documents, which are updated regularly to reflect the ever-changing FSA handbook.
• Automatically producing month end broker profiling reports showing the compliance status for each area of functionality. Firms can also produce an “as at now” compliance report at any time which drills down into each area of compliance. Both documents are an invaluable resource for use at monthly board meetings.
• Presenting key information in a clear Red, Amber and Green (RAG) status allowing users to quickly identify areas that are non-compliant. Further piece of mind is offered by the automatic highlighting of areas that move from a compliant to non-compliant position.

Take action on FSA compliance today

A vital health check for FSA compliance

iBMACS contains over 30 components, which cover:

• Broker Management;
• Regulation Management;
• Client Management; and
• Staff Management.

The components contain hundreds of pages written in clear English, helping the user to fully understand the FSA rules and regulations.

What are the benefits?

• FSA compliance is a massive headache for brokers which iBMACS helps Brokers to solve, thereby releasing more time to deal with clients.
• Peace of mind that by using iBMACS, non-compliant areas are automatically flagged.
• A one-stop resource on all areas of FSA regulation affecting Insurance Brokers as well as access to the latest industry news and developments.
• Brokers using iBMACS will find that compliance becomes embedded throughout their firm, rather than resting with one or two individuals.
• Monthly Broker profiling report clearly summarising each functionality area and the brokers current state of compliance.
• Peace of mind that by using iBMACS and the easy data entry screens results will be shown in a simple and clear Red, Amber and Green (RAG) status allowing users to easily identify areas that are non-compliant.
• Knowledge and comfort that broker information is stored in an encrypted database, backed up several times a day, kept off-site and regularly decrypted to check for errors.
• Access to easy to read plain English guidance documents, updated on a regular basis to reflect the ever-changing FSA handbook.