Compliance system to help packagers

Personal Touch Insurance and em Financial claim to have developed a compliance model that could secure the future of packagers without affecting profitability.

The model, called &#39the box&#39, is said to offer a complete training and compliance package to individual introducers, small networks or a packager while ensuring the ability to retain 100% of any proc fees.

Key features include the ability to secure packaging agreements through contractual agreements; procedural guidance from FSA compliance teams; free PI for agents; free mortgage, life insurance and general insurance sourcing systems; back office admin systems and flexibility for agents.

Mike Allison, managing director of Personal Touch, says: “We have evolved a compliance system using IT and existing resources to keep costs to an acceptable level.”