Cost of FSA compliance reduced.

Compliance, Relationship and Document Management system specifically for Independent Financial Advisors. Cost of compliance with new FSA regulations can now be reduced.

CleverDocs for IFAs - Compliance, Relationship and Document Management system specifically for Independent Financial Advisors.

Cost of compliance with new FSA regulations can now be reduced.

The additional cost of compliance with the new FSA (Financial Services Authority) regulations for insurers can now be contained thanks to Lyquidity's enhanced customer relationship/document management software CleverDocs for IFAs.

Lyquidity's document management system - CleverDocs for IFAs - has already substantially reduced operating costs for Denyer Insurance by streamlining many of the processes for compliance, sales, customer interaction and document management.

Denyer, which pioneered commission-free life, critical illness, pensions and general insurance, sold via the internet, is the first IFA to incorporate the enhanced software.

CleverDocs for IFAs helps ensure this by improving productivity across all aspects of an IFA business:.

* Compliance.

* Business Management.

* Relationship Management.

* Document Management.

* IFA Intelligence.

- Compliance:.

* Comprehensive client and policy registers.

* Fact find recording.

* Terms of business agreement status.

* Logged communications with providers and clients.

- Business Management:.

* Financial Services and General Insurance.

* Commission statements can be retrieved by time and/or providers.

* Renewal commission forecasting.

* Commission tracking at IFA, insurer and even client level.

* Reduced administration.

* Greater responsiveness.

* Business Intelligence.

- Relationship Management:.

* Client policy history and status is available on-line.

* Authorised agents have access to documents.

* Automated communications with clients when policy status changes.

* Standard letters can be created and sent automatically.

- Document Management:.

* All communications scanned and accessible on line.

* Documents can be filed against providers, clients and policies.

* Documents can be filed against any number of clients and policies.

* Thumbnail view of documents available for quick reference.

* Documents can be opened and printed, emailed or faxed from the screen.

- IFA intelligence:.

* Comprehensive policy register.

* One or multiple parties to a policy.

* One or multiple lives to assure.

* Policy extensions.

* Key dates available on policy records (Application, Acceptance , On-risk).

* Reasons (Letter, Objectives, Risk Attitude).

* Policy numbers (internal and provider).

* Status policy application with compliance/sales process.

* Advice and policy history available.

From 2005 the new FSA regulations will demand increased transparency and compliance auditability.

Simon Hill, Managing Director of Denyer says "while creating a new way of selling insurance, it became apparent that we also had to transact our business in a new way.

The cost of dealing with paper has always been a key factor in operating a paper based business.

The creation of CleverDocs has allowed us to automate many processes.

From an initial interest on our website through to policy acceptance and follow-up we have been able to make the most of our key processes to become paperless and yet retain the feel, as far as clients are concerned, that we are looking after their needs in a traditional manner." CleverDocs was created on time, on budget and, after three years? continuous operation, without a single failure ".

He continued "after we implemented CleverDocs and went live, we were able to immediately transact more business and release staff to do more productive work.

We also had one place for customer records, quotes, policy documents, e-mails, correspondence etc With this system in place, everything became accessible at the touch of a button".

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