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Product firms unsure of Assureweb

Providers are weighing up whether to renew their Assureweb subscription as

some firms feel it has failed to pro- vide a satisfactory compara-tive


Some life offices are refusing to sign up to the DBS-owned portal until

they are certain the service is delivering on its promises, as they fear

they are merely paying for the portal&#39s development costs. It is believed

these providers include several medium-sized players which have opted for

Assureweb packages with lower up-front charges but with ongoing payments.

Permanent Insurance has not yet signed up to Assureweb. Permanent sales

and marketing director Rod Macdonald says: “We are very strongly of the

opinion that providers should not have to contribute cash to dev-elop


Scottish Amicable e-commerce and marketing director and industry standards

body Origo board member Gavin Stewart says: “As a general rule, we think it

is more appropriate to go forward with payments to portals which are close

to the business generated. This suggests that the funding model for portals

such as Assureweb may have to change.”

Assuresoft sales and marketing director Nicola Mitchell says: “It seems

very odd bec-ause most providers have had the opportunity to develop their

own portals but have not had the resources or expertise to do so

effectively. Also, product providers make massive sav-ings by transacting

business through Assureweb.”


Survey shows net will not destroy IFAs&#39 role

Face-to-face financial advice will always be in demand by some investorswho resist the lure of the internet, according to research.Even a third of those people who have bought life insurance online saythey would only use the internet to buy a life product after receivingadvice.The research was carried out by Mori Financial Services on behalf ofpublic […]

Fleming Asset Management has introduced the Global Life Sciences Fund

Fleming Asset Management has introduced the Global Life Sciences Fund, which aims to entice sophisticated investors willing to add a high risk fund to their portfolios.The fund is an offshore Oiec and invests in companies involved in the healthcare and medical research and development sector, such as genetic research and the pharmaceutical industry.Biotechnology has become […]

Aon Financial is poised for MBO

The world&#39s second-biggest insurance broker Aon is believed to have agreeda management buyout of its UK financial services operation for £20m.The MBO of Aon Consulting Financial Services, is expected to be completedby August.Sources say it will then trade under the name of Momentum.Momentum is expected to be headed by ACFS managing director Paul Johnstonand head […]

M&E firms could quit network over ICS

M&E members are up in arms over the network charging them for thequarterly Investors&#39 Compensation Scheme levy.Some members are considering resigning their membership as a result of thecharge.The network absorbed the entire ICS levy for the last quarter following awrangle with members over a rise in membership and PI costs.M&E has budgeted for an ICS […]

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


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