RWA Insight - Mandatory Data Request Issued to Principal Firms

This Week's Top Articles?From RWA Insight

Mandatory Data Request Issued to Principal Firms

The new rules under the Appointed Representative regime require principal firms to provide the regulator with more information on their ARs and IARs. What must firms submit under the regulator’s recent data request?

In this article,?Chloe Morris ?explains the requirements of the mandatory data request made by the?Financial Conduct Authority . Failure to provide the necessary information may result in enforcement action.

If you would like more information about this, please contact your Compliance Consultant or call 01604 709509.

Click Here ?to read the full article.

Reflecting on Your CPD Activities – the Dos and Don’ts?

With 2023 just on the horizon, have you taken?time to reflect on the CPD activities you have undertaken over the last 12 months?

CPD will aid you in maintaining your existing knowledge while also widening your skills and knowledge bases, which could promote career advancement. It will also build your own confidence in your work overtime, helping to ensure faith and trust with your clients.

Recording CPD will give you the opportunity to reflect on the activities you have completed and highlight areas you may need to focus on going forward. Self-reflection on the CPD activity will allow you to identify your strengths and weaknesses within your current knowledge and skillset, which in turn, will encourage you to determine what you can do to improve on them and how you can become more effective in your role.

In this article, Alexandra Brown explores how you can reflect on your CPD activity.

Click Here ?to read the full article.

3 Ways AI Will be Used in the Insurance Industry

AI technology is moving extremely fast and businesses that can adapt AI into their processes will have a first movers’ advantage over their competitors. How will AI be used in the insurance industry?

88% of the Fortune 500?companies that existed in 1955 are no longer in the Fortune 500. In business, you must always be adapting and progressing with technology. Businesses that fail to innovate are likely to get left behind by their competitors.

In this article, Luke Forrest offers 3 ways insurance firms can utilise AI.

Click Here ?to read the full article.

Aviva Development Zone

We’re now approaching the end of 2022. Are you up to date with your CPD requirements? The IDD applies to all staff involved in insurance distribution – including those responsible for supervising or managing such services.?

The Aviva Development Zone has been created with the insurance industry in mind and is constantly updated to reflect changes in FCA regulations.

If you are new to the Aviva Development Zone, we offer a 14-day free trial where you can try every feature and every course!

To start your 14-day free trial?Click Here

Quiz Of The Week

The IDD requires general insurance distributors to be able to demonstrate minimum necessary knowledge across eight core competencies.?The Development Zone contains hundreds of modules covering these areas,?as well as many other key regulatory topics and professional skills.

The Insurance Market module can be found in your course catalogue and offers a great introduction to the insurance industry.

Featured Courses

Existing users can find these courses and over 500 more, in their course catalogue.

More from RWA & Searchlight Solutions:

We’re thrilled to announce that the Development Zone has been shortlisted for the National Insurance Awards 2023 in the?Innovative Product Award – Specialist category!

We’re proud of the hard work our team has put into creating the Development Zone and are happy to be recognised for our commitment by?Insurance Today

Searchlight has been providing learning and development support to insurance intermediaries for over 23 years. Its nationwide team of training associates have an array of technical and general insurance specific knowledge and, most importantly, the ability to bring the subject matter to life with energy and enthusiasm.?From regulatory and technical insurance skills to management and communication, Searchlight’s workshops are available in both online and face-to-face format.

Regular skills development opportunities, such as face-to-face training and online learning workshops motivate staff and allow them to grow with your business. With all courses available in three competency levels – Searchlight learners can choose the level that is most suited to their ability.

To find your nearest training centre or for further information on Searchlight’s online workshop offering, visit:?https://www.searchlightsolutions.co.uk/