The Financial Conduct Authority (FCA) is considering whether to charge firms an administrative fee if they choose not to receive its invoices by way of an online system.
The regulator has proposed that all fee-payers receive their invoices through its online invoicing system or else pay a fee, from 2019/20, arguing a paper service for a small percentage of firms is inefficient, expensive and time-consuming. The FCA revealed around 85% of authorised firms are currently using its online invoicing system but this, it said, still left some 8,000 businesses receiving paper invoices. It added: "Paper invoicing for a small percentage of firms requires a separate process...
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.
The official supplement of this year's COVER Excellence Awards is available to read now as an eBook.
Child cover within critical illness plans has assumed a far greater importance in recent years, writes CIExpert's Alan Lakey.
Holloway Friendly has widened its new online underwriting process allowing protection advisers to write both full and short term income protection business in minutes.