CleverDocs for IFAs - Compliance, Relationship and Document Management system specifically for Independent Financial AdvisorsWritten by Sarah Seddon
Cost of compliance with new FSA regulations can now be reduced
The additional cost of compliance with new FSA (Financial Services Authority) regulations for insurers can now be contained thanks to Accounting Products (www.accountingproducts.co.uk) enhanced customer relationship/document management software CleverDocs for IFAs.
Accounting Products document management system – CleverDocs for IFAs - has already substantially reduced operating costs for Denyer Insurance by streamlining many of processes for compliance, sales, customer interaction and document management. Denyer, which pioneered commission-free life, critical illness, pensions and general insurance, sold via internet, is first IFA to incorporate 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 or Documents can be opened and printed, emailed or faxed from 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
Getting the Power to ControlWritten by Thomas Yoon
One of advantages of using machines to control processes for you is that you can harness tremendous amounts of power and energy which humans do not possess.
By a flick of a switch, huge sliding flood gates can move to allow large quantities of water to flow out of a dam. With just a slight twist on a handle, supertankers weighing hundreds of thousands of tons are able to turn because of corresponding rotation of huge rudders.
Similarly, processes operating valves can be remotely operated to control flow, temperatures, pressures and so on.
All these final control elements - flood gates, rudder, valves - must be operated by actuators. The function of actuator is to move to control elements in processes.
In order to move actuator, there must be a medium for transmitting required power or action. All actuators are mechanical in nature. The common means of transmitting power are: pneumatic (air), hydraulic (fluid), and electrical (motors).
The actuators must be designed to work for that medium. There are several advantages and disadvantages for choosing a particular medium. For example, pneumatic actuators are particularly useful when atmosphere contains flammable gases. By using pneumatic actuators, there is very little chance that a spark can be generated to cause a fire. However using air for actuating may be more expensive to install and to maintain.