Financial and Technology Research Centre (FTRC) has announced it is to offer API access to its protection data to allow firms to integrate the firm's product analysis service into third-party services.
This will include portals, specialist financial adviser websites, aggregators and price comparison sites, and adviser practice management systems. The Insurance Distribution Directive (IDD), which came into effect on 1 October, requires all life insurance intermediaries to provide a suitability assessment as part of any comparison service. "Pure price-only comparisons no longer meet regulatory requirements - even for non-advised sales," said FTRC director Ian McKenna. "The IDD represents a significant enhancement to consumer protection so consumers are presented with more than just...
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