Insurance

Our experts understand the nuances of the insurance sector and offer cost-effective, practical solutions to help firms negotiate complex regulation and compliance requirements.

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Our expertise

Our experienced, knowledgeable team helps firms with many types of insurance regulation issues on a daily basis. They know the importance of customer care and how essential it is to uphold a reputation. So, whether you want: a detailed assessment of your current position; help with the intricacies of SM&CR; a review of your existing suite of policies and procedures, financial promotions, operational risk framework; or support with AR compliance management, we’ll make sure you get practical, effective expert advice.

We advise clients ranging from new entrants needing FCA authorisation, to established firms looking for ongoing compliance support. Our clients include insurance brokers, insurance companies, Managing General Agents (MGAs), and other intermediaries involved in insurance mediation, such as motor dealerships, call centres, and FinTech operations.

Our guidance and support cover everything from adopting the FCA’s cornerstones of risk including governance, culture and control, to compliance monitoring and comprehensive compliance health checks. We can also help you:

Interpret and comply with the FCA Handbook
Monitor the compliance management of your Appointed Representatives (ARs) and Introducer Appointed Representatives (IARs)
Oversee your ongoing compliance with regulation including SYSC, ICOBs, CASS 5, MIPRU and the Insurance Act 2015

Clients we have worked with

FCA authorisation & regulatory project support

We can support Credit firms with all aspects of their compliance to help them confidently navigate regulation in a way that will keep their vision and objectives intact.

FCA Authorisation & Applications

We know what the FCA is looking for after successfully managing over 1,500 applications across all financial sectors. We work closely with our clients to ensure a complete application, which at the core reflects the client’s business plan, reaches the Regulator, to help ensure authorisation is achieved efficiently.

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Consumer Duty

A wide range of services options to support all firms with the implementation of the new Consumer Duty.

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Appointed Representatives

We help firms that want to build a compliant AR network, and/or maintain their current network. Our support services include annual AR reviews, AR monitoring, and development support of appropriate and compliant AR frameworks. Whether you are looking to become a principal yourself or are unsure as to whether becoming an AR is the best route for you, contact us today.

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Ongoing Compliance Support

Cosegic support hundreds of firms with their ongoing compliance requirements, be it through regular compliance monitoring, online and classroom training, compliance assurance reviews or carrying out remediation required to meet regulatory obligations.

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Compliance Healthcheck

Our Compliance Healthcheck gives you comfort and peace of mind that you have appropriate compliance arrangements in place.

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Compliance Advisory

We provide industry-leading ongoing consultancy services support which is constantly adapted to the ever-evolving regulatory environment. We also routinely solve client specific issues, offer ad-hoc project support, assist with changes in business structure and the effect and impact of new regulation on systems, policies, procedures and controls.

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Training

Ensuring your management and staff receive appropriate compliance training is a requirement of the FCA’s regulations. We offer two options, online training courses using our PortAll software and bespoke classroom training and workshops

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Variation of Permission

If you are an authorised firm looking to change your regulated activities, start a new business line or add new product/client types to your business line, we can support you with your variation of permission (VOP) application.

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Change in Control

If you are looking to acquire or increase control of a regulated firm you must send a notification to the FCA for a Change in Control (CiC) and have prior approval from the FCA before the transaction can go through. We can help you notify the FCA of the change and ensure that the CiC goes smoothly.

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Ongoing support options

Are you looking for compliance support on an ongoing basis? Take a look at our menu below and choose the package that is right for you.

Core

from £99pm

Regtech – MCC Lite
Document Library
Compliance Monitoring Plan
Activity Reminders & Guidance
Regulatory Updates
Helpdesk Support
PortALL (1 Licence)
Extra Consulting Hours (standard rate)

Flex

from £275pm

Expert Consultant Support (6 Hours per annum)
Regtech – MCC Lite
Document Library
Compliance Monitoring Plan
Activity Reminders & Guidance
Regulatory Updates
Helpdesk Support
PortALL (1 Licence)
Annual Healthcheck (remote)
Extra Consulting Hours (discounted rate)

Bespoke

POA

Expert Consultant Support Hours (tailored to your individual needs)
Regtech – MCC Lite
Document Library
Compliance Monitoring Plan
Activity Reminders & Guidance
Regulatory Updates
Helpdesk Support
PortALL licences (tailored to your individual needs)
Extra Consulting Hours (discounted rate)

In addition to your choice of our core, flex, and bespoke support packages, you can also add on any of the following services at an additional fee, to meet your personal business needs.

• Annual Compliance Assurance Review, • Financial Promotions/ Marketing Review, • Compliance Monitoring/ File Reviews, • RegData Returns, • Flexible Service Contract, • Annual Healthcheck (remote)

Find out more about our ongoing support options

Why choose Cosegic?

Our 360 degree perspective of regulatory affairs

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Our 360 degree perspective of regulatory affairs

Our wide range of financial sector experts come together on a regular basis to discuss their interactions with the FCA and the regulatory trends that they are seeing, providing us with a more informed understanding of the FCA than our competitors.

Direct, proportionate advice

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Direct, proportionate advice

Our unique perspective means we really do have our fingers on the pulse of regulation, which helps us to ensure that the advice we offer is practical, helpful and directly proportionate to our clients’ needs.

Our understanding of the role of compliance in firms

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Our understanding of the role of compliance in firms

We have watched the evolution of compliance over the past twenty years and understand that compliance must now become a core part of how financial services carry out their businesses in order for them to be successful.

Compliance confidence for visionary growth

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Compliance confidence for visionary growth

In recognising this, our services have been built in a way that can help you navigate regulation ensuring you will keep your vision and objectives intact. Our breadth of experience allows us to balance your business objectives with your compliance requirements.

We're experts in our field

Meet Will Khammo, Senior Consultant specialising in supporting a wide range of Insurance, Mortgages, Claims, and Funeral Planning clients. Will is an ex-regulator having spent 6 years at the FSA (now FCA) before becoming a compliance consultant. He has experience working with a variety of business sizes, from start-ups to mature yet dynamic businesses, and has worked across industry sectors across the financial services spectrum delivering commercially focused solutions that are real, relevant and proportionate to the client in question.

CONTACT WILL