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Berkeley Alexander launches new Quote Pack addressing IDD Compliance
08 October 2018
8th October 2018: General insurance provider, Berkeley Alexander, has updated its online quote pack providing its brokers with full IDD compliance support.
Generated seamlessly from within the online quote portal, the pack provides documentation that leads brokers through the new IDD compliant sales process step by step.
The IDD regulates how insurance products are sold and came into force on 1st October 2018.
Geoff Hall, Chairman, Berkeley Alexander explains: “The IDD puts additional responsibilities on the adviser, but compliance needn’t be a headache. Some key elements of the IDD continue from the existing regime, such as ensuring client communications are clear, fair and not misleading; that your remuneration structures don’t create conflicts of interest; and ensuring you put your customer at the heart of what you do, but there are now some additional rules. We’ve taken the stress and uncertainty out of the process and put together this new quote pack for brokers that takes care of all the new requirements. It leads advisers through the sales process step by step to make sure they deliver a fully compliant GI sale as simply as possible.”
