Training

Workout 1

Who is it for?
Staff who work for Insurance Companies, Insurance Brokers, Claims Management Companies, or require an understanding of the Insurance Industry as part of their role will benefit from Workout.

It is not just for customer facing staff either, whether they be call centre staff, telesales operators, complaints or claims department staff. Admin and back-office staff will get as much benefit.

It should be an essential part of induction training for staff at all levels, not just people who are new to the industry, and it will support your own internal training programme.

Why do you need it?

You need trained, confident, competent staff. You also need to prove the competency of your staff.

We believe Workout will fulfil an important part of any company’s CPD requirements. You will be confident that your staff have a much improved understanding of the subject matter contained in our modules. Workout should also save you money and time. Your staff are able to take a Training course with an integrated Testing process in-house.

The FCA Code of Conduct

Who is it for?
All those who work for a firm regulated by the FCA involved in the distribution of insurance.

Why do you need it?

• Firms are directly responsible for ensuring their staff are familiar with the code of conduct and know how it applies to them in their job role. If a member of staff is disciplined as a result of a breach, the FCA may have to be informed
• The code of conduct is high level and without this training, staff will struggle to understand it and it may put your firm at risk. The regulation requires that a director of each regulated firm must take responsibility in writing for ensuring appropriate training takes place
• Workout is the simplest and most cost-effective way of protecting yourself. It will also help in evidencing the new rule that you always act honestly, fairly and professionally in accordance with the best interests of your customers”

Workout 2

Who is it for?
All those staff involved in the distribution chain (this means Sales, Underwriting, Claims, Admin etc) and also those responsible for ensuring staff meet the requirements.

Why do you need it?
FCA Regulated firms need to meet the training requirements under the Insurance Distribution Directive. You will find details of this in the FCA Handbook rule SYSC28.2.3 – A firm must, including in relation to the relevant employee, demonstrate compliance with the following professional knowledge and competence requirements in the below areas. All those staff involved in the distribution chain need to have 15 hours CPD per year which must include the IDD requirements for ‘minimum necessary knowledge’ in the following 8 areas:

(a) Terms & Conditions of Policies offered

(b) Applicable Laws covering the Distribution of Insurance Products

(c) Claims Handling

(d) Complaints Handling

(e) Assessing Customer Needs

(f) The Insurance Market

(g) Business Ethics Standards

(h) Financial Competence

All staff should have a CPD file which documents their continuing development, and as part of Workout 2 we provide a Certificate of Accomplishment for each Module completed. You will be confident that your staff have a much improved understanding of the subject matter contained in our modules. With their awareness increased, staff will be more competent and more confident in their roles – providing a greater level of service to your customers and to your business. Workout 2 should also save you money and time. Your staff are able to take a Training course with an integrated Testing process in-house. They therefore don’t need the day out of the office travelling to wherever an organised training session is taking place. You can allocate how long you wish them to spend on the Modules and then they can get back to doing what they do best.