Supporting your obligations for CPD under the IDD

Supporting your obligations for CPD under the IDD Mark Thornton 19 th January 2018

The Insurance Distribution Directive Covers many areas on distribution of insurance including: �Customer’s Consent �Insurance Product Information Document (IPID) requirements �Status Disclosure �Demands & Needs of customer �Continual Professional Development (CPD) � Implementation Date: 23 rd February 2018…. or is it? � UK Transpose into Law with all firms complying by 1 st October 2018 � Still time to prepare…. ! We’re going to Focus on Minimum Knowledge & Competence requirements Page 2 of 9

Minimum Knowledge and Competence Requirements � Applies to who? “Anyone carrying out regulated activities in relation to a contract of insurance” � Example Sales persons, supervision of sales activities. � Includes “persons whose services are placed at the disposal of the firm” � What are the requirements? “The IDD requires all insurance distributors and their employees to have the appropriate knowledge and ability to perform their roles. ” � Appropriate knowledge? “We do not intend to prescribe a mix of structured and unstructured CPD. Firms should consider what is most appropriate to ensure that their employees have the required knowledge and competence. ” � But must include, Product coverage, claims & complaint processes & insurance regulation �How much and type? � Minimum of 15 Hrs in a 12 month period � No prescribed mixture: can include seminars, elearning and mentoring �Maintain employee training records � Evidence available to FCA on request � Kept for 3 years after employee stops carrying out regulated activity Page 3 of 9

What can help your company achieve this? �One suggestion could be by using an elearning platform � Many organisations are already using Proficiency Solutions �Proficiency Solutions is a Learning Management System �Web-based �Training assigned to employees according to Role �Assessments confirm understanding � Automatic email reminders when assessments due �Certificate for employees �Weekly email to Compliance identifying employees at risk �Reports for Compliance department (Inc Employee Avg CPD time) Page 4 of 9

Reports Module Completion Report Page 5 of 9

What can the individual see? Page 6 of 9

About the Elearning courses �Wide spread of courses already available �Generic modules instantly available e. g. Bribery & Corruption / Data Protection /Treating Customers Fairly/Regulation of General Insurance / Vulnerable Customers �Bespoke designed modules available �Narrated to add to learner experience �Learner interaction to maintain focus Page 7 of 9

Elearning Course examples: Page 8 0 f 9

And Finally…. � System demonstrations available � Preferential pricing available for Protect Members � Demo Access: https: //www. proficiencysolutions. co. uk User ID: Demo Password: User � Speak to myself or Jemma today Mark Thornton - Product Development Manager Tel: 07768 121833 Email: info@proficiencysolutions. co. uk A simple solution to your business and regulatory training needs Thank you! Any Questions? Page 9 of 9