Quoforma+ quote system and website updates (FCA GI Pricing Practices)

Following on from our recent communication on what Assurant is doing to be ready for the FCA GI pricing practices, we have implemeted some changes to the Quoforma+ quote system and our website ahead of the policy coming into force 1st January 2022.

Website change

On the Products and Insurers page, under Documents, there is now a Product Value Document section. NB: Not all documents have been received as yet but this section is now in place and ready.

Quoforma+ quote system change

On the Payment confirmation page, there is now a very clear breakdown at the Select Payment Plan section to show the price difference between Monthly and Annual payment with a further breakdown of the Retail Premium Finance costs if paying monthly.

There is also additional text above the declaration tick box for you to advise to your customers.

On the Summary page before policy submission, there is now the option for your customers to opt in or opt out of auto renewing their policy with Help Text guidance for both options.

We trust this update information is all clear but if you do have any questions or queries, please contact your Account Manager who will be happy to help.