Selling Insurances In A Regulated Market

Training for Compliance with the F.S.A. Directive

The standards and requirements of the European Union's Insurance Mediation Directive became effective in the UK from 14 January 2005. The directive is controlled in the UK by the Financial Services Authority (FSA) and regulates the sale and administration of insurance products and contracts by intermediaries such as retail motor dealers.

This means it is essential that all people employed in a car dealership who handle issues of insurance of any type must be knowledgeable in all matters concerning insurance and able to demonstrate that knowledge in customer facing situations. The directive affects the all-encompassing spectrum of insurance products including warranties and all types of finance insurances as well as those that directly affect or benefit the vehicle, driver or third party.

The Course Duration: 1 day + remote validation follow up. Number of Delegates: Minimum 1 delegate up to maximum 14 delegates per session.

Course Objective

In order to meet the requirements of the F.S.A. directive people who handle or sell insurance products in the dealership must:

  • Understand the fundamentals of the Insurance Regulations
  • Understand systems and paperwork involved
  • Be knowledgeable and able to offer the range of insurance services and products to your customers
  • Appreciate fully the legal standards, qualities and issues that your dealership will be required to address as an F.S.A. approved operation

Course Contents

  • Overview of how the insurance industry operates
  • F.S.A. principles and directives in the communication and selling of Insurance
  • Summarise and discuss the features and benefits of more than 20 types of Insurances that can be sold from the dealership
  • Assisting customers in the processing of their claims
  • An introduction to the legal system and the laws covering the selling of insurance
  • How the law protects your people, your business and your customers
  • Referring the customer to the Financial Ombudsman if the need arises
  • How to use the knowledge to enhance selling opportunities

Accreditation and Recognition

A.I.T. will validate the effective use of the knowledge by each delegate attending the training and submit to the awarding body the evidence of competence that demonstrates the ability of the delegate to use the knowledge effectively in the customer-facing situation. The standard achieved will be recognised by the issuing of a certificate valid for twelve months.

Annual re-accreditation can be managed by A.I.T. Training Developments Limited