"Regular use of iBMACS will enable firms to achieve, maintain and monitor compliance."


Paul Meehan
Former Customer Experience Director, AXA Insurance

 

"I have been extremely pleased with the operation of iBMACS in the 3 years we have utilised the system. The fact that colleagues can input reporting information to show them instantly whether our firm is compliant in relevant areas is a valuable tool, particularly as once input, the data cannot be altered and an audit trail is provided. This fact, along with project management and reporting capabilities, has given our auditors concise and accurate evidence of the systems and controls that we operate as a business. The knowledge database and ease of use of the system are also extremely useful to our business"

Andrew Gibbons ACII
Managing Director, Mason Owen Financial Services



Insurance Broker Management AndCompliance Solution



iBMACS is a web-based solution which can enable every broker to achieve and maintain compliance. There are over 30 components, which cover Broker Management, Regulation Management, Client Management and Staff Management. The components contain hundreds of pages written in clear English, which help the user to fully understand the FSA rules and regulations. iBMACS shows at all times whether firms are compliant.


Compliance solutions at the touch of a button
Compliance is an essential part of succeeding in all financial industries and can actually help you to improve the way you do business. But when new policies and guidelines are regularly being introduced for the insurance industry, how can firms stay on top?


Are you FSA Compliant?
The FSA are currently structuring a three stage approach to look at how brokers identify and take steps to prevent potential risks within their business.

  1. Stage One: Business Risk Awareness Workshops (BRAW)
  2. Stage Two: Regulatory Review
  3. Stage Three: Follow-up Work
There is no "opt out" clause for Stage One!
  1. Would your firm's current systems automatically alert you if you were to become non-compliant in any of the key areas of FSA compliance?
  2. Are you able to see at a glance the monthly trends within your firm for each area of FSA compliance?
  3. Are you able to produce a comprehensive compliance report at any moment in time?
  4. Do you recieve accurate, consistent and regular compliance support on a cost effective basis?
  5. Does your FSA compliance match "best practice" within the broking community?

iBMACS can meet these needs.