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Broker, UMA and insurer administration systems

22 October 2019 [email protected]

We asked the questions for you FAnews has published a DIGIMAG which has a special focus on Broker, UMA and insurer administration systems.

In this DIGIMAG, you as a broker, UMA or insurer can gauge a better understanding of some of the administration systems available in the market.

Here are some of the questions we have got answered for you:

• An overview of all the modules that a system offers to the target market.

• How much independence and control does your client have over the system?

• What portal functions does your system support?

• What self-service functionalities does your system allow?

• Which type of data extract tools are available?

• What continuous support and self-service tools does your client have access to?

• Can your system be integrated with third-party providers and their software?

• How do you keep up with compliance requirements?


 

Click on the image below to view the Digimag.

 

 

Click here to download the Digimag.

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Quick Polls

QUESTION

How to give affordable and appropriate financial advice to the low income market segment. There is little room on a R50 pm policy for advisers to be remunerated for the time it would it would take to educate & fulfil admin function. What is the solution?

ANSWER

[a] Eliminate non-advice sales / telesales
[b] Implement industry standards for non-advice information
[c] Introduce an insurer-funded pro-bono advice network to low income earners
[d] Reinforce the Policyholder Protection Rules
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