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Technical Connection in bid to cut IFAs’ PI costs

Technical Connection and Collegiate are working with professional indemnity insurers in a move aimed at reducing PI costs for IFAs.

The two companies believe the use of specialist technical support and development services by IFAs will lead to better business for PI insurers and increasingly positive fut-ure premiums for IFAs.

They say IFAs can demonstrate their commitment to training and competence by subscribing to Technical Connection’s services, such as Techlink, Techlearn and Ask which provide knowledge management, research, news and ideas, online learning and testing and case-related technical support.
PI insurer CMS Under-writing has already agreed that IFAs’ use of these services will constitute a positive material fact in their underwriting process and will be reflected in its risk rating.

Technical Connection partner Tony Wickenden says: “It seems to me to be only natural that insurers should recognise the importance of continuing independent technical support together with effective knowledge management, research, training and testing, especially where an IFA demonstrates the seriousness of their commitment by paying for these services.”

Collegiate marketing dir-ector Fergus Chappel says: “It is encouraging to see yet another recognition of quality by PI insurers. We believe that this is becoming a trend and Technical Connection’s work in this area complements the recent initiatives of the Institute of Financial Planning and Sofa.”



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