Insurance Platform Launches Industry First to Enhance Operating Efficiency Amongst Brokers

Online, September 24, 2010 (Newswire.com) - Compliance Management Services Ltd today launches its paperless people management system, Streamline Solutions dedicated to the general insurance broking sector. The service is being rolled out to the wider broking community following a successful pilot which has seen selected brokers embrace the new technology to improve its employee management systems.

The company is inviting other brokers to join the platform offering a paperless one stop shop and removing time and cost in an area that has historically been handled manually.
The technology enables brokers, to manage their staff records, track and measure staff competency, deliver on-line learning, demonstrate FSA compliance, as well appraise, develop and improve staff and their performance, all on one platform.

Forward-thinking broker, Clear Insurance Management Ltd, one of the first customers involved in the pilot, adopted Streamline Solutions at the start of 2009. The firm has seen its broker business grow from 10 employees to over 60 employees over the past few years. "There was a real need in the business to be able to enhance our employee management systems and bring everything together into one point of reference, supporting our speedy growth", says Gary O Donnell, Deputy Chief Executive.

"September is the time of year when we begin the process of reviewing staff performance, ready for appraisals which happen later in the year. A big part of this process is to look at what our staff have been doing across a number of areas, to see who is meeting our competence standards and, more critically, who may be falling behind. Streamline Solutions supports our efforts with one central platform from which to review all records, including any areas which remain outstanding. The system provides managers with up- to- the minute information, helping to ensure that their face-to-face meetings with staff are as effective and productive as possible" continues O Donnell.

"Staff efficiency is the biggest single influence on the profitability of a broker ", says Norman Hughes, Managing Director of Compliance Management Services. With staff costs, the biggest overhead, varying from 25% of income to over 70%, the impact on profitability can be huge, especially as some brokers may be struggling to make a pre-tax profit of 10% of income. By looking more closely at internal processes and management systems, brokers can increase profits by 50% with just a 5 point percentage improvement in staff effectiveness".

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For further press information, please contact Parm Evans at parm.evans@btinternet.com or telephone +44 (0)7501 462045.

Notes to Editor
Streamline Solutions (www.streamlinsolutionsuk.com) has been developed in conjunction with Worksmart, one of the UK's largest suppliers of software for managing compliance and HR in the financial services sector.
Streamline Solutions is not tied to any particular insurer, trade body or other insurance organisation. It is focused on helping clients achieve their commercial aspirations by driving out inefficiencies and reducing administration costs.

Compliance Management Service Ltd (CMS) is a firm of independent compliance consultants providing expert assistance to intermediaries in connection with general insurance regulation. It was started in 2003 by Norman Hughes and has numerous clients in the commercial and personal insurance broking sectors.
http://www.compliancemanagement.co.uk