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Soundbytes

01 June 2005

What does the final instalment of the Financial Services Authority (FSA) required system include?

Acturis has been working now for over 18 months to help our brokers with FSA compliance but the final chapter in December 2004 included an updated complaints log and complaints reporting process, new workflow management functionality to help brokers build FSA compliant processes, an integrated SODAN and updated accounting and reporting functionality.

Why have you decided to provide it free of charge?

When a software house charges for a new module or functionality, some brokers decide to take it and others do not. We wanted all our customers to benefit from the new compliance tools, not just those with deep pockets.

In any event, how can something as central as the FSA be an optional extra?

That is like saying that the current system is not good enough but if you pay a bit extra it will be.

How was it rolled out to users and how many users are there?

The Acturis Broker Platform is centrally hosted, so after development and testing, the new functionality was simply rolled out to all our users.

Users logged-in on the Monday morning and the new tools were there. We now have over 1,600 users across 100 broker sites, and the next release of the Acturis Broker Platform will be made available to all free of charge.

Is training needed and is it easy to install?

Our brokers had the chance to test the new tools before they went live and thus become familiar with them. In addition, a user manual was supplied to all brokers. In some cases we have given some top-up training but in most cases it has not been necessary. In terms of physical implementation, all they had to do was log in.

Have you had any feedback so far?

The feedback to date has been very positive indeed. The new integrated statement of demands and needs process and the updated month end tools have probably received the most positive comments so far but we are awaiting brokers' feedback with interest once they have reported to the FSA using Acturis.

Insurance Age


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