iBMACS® - Insurance Broker Management And Compliance Solution
iBMACS is a web-based solution which was launched in 2006 and can enable every broker to achieve and maintain compliance. Our broker compliance health check work with AXA lead us to independently develop and release iBMACS.
We are currently rolling out a totally new version of iBMACS which utilises world class technology to produce a unique, affordable and "Best in class" solution available to BOTH insurers and brokers alike.
There are over 20 components, which cover Broker Management, Regulation Management and Client Management. The components contain hundreds of pages written in clear English, which help the user to fully understand the FCA rules and regulations.
iBMACS shows at all times whether firms are compliant and displays this in a spectacular and interactive series of Bar Charts, which can be clicked on to see exactly where and why areas are being shown as being Red, Amber or Green. In case you are of a lazy disposition each area of non-compliance together with an appropriate explanation, is also shown on the same log on page. Each page containing functionality also shows the compliance status in a simple pie chart, so there can be no excuses for being non-compliant.
FCA compliance is an inevitable and essential task for brokers to undertake and even those with their own compliance managers and/or consultants will find iBMACS invaluable and a very cost effective solution that will help improve the way you do business.
Another feature is the capability to produce full audit trails for the FCA, your accountants and your staff. You can also now specify the period you wish to look at your compliance history.