5.3 Enhancing the Sales Process

Effective administration, follow-up and back-up measures are key to the sales process. You should be
sure to have appropriate security and tracking measures in place to ensure that you carry out your business
in a timely, effective and efficient manner.

Useful tips

• On completion and receipt of supporting documentation from the client, you should forward the proposal/application form to the relevant Insurer/Lender.
• Log new business into your New Business Book (manually or on PC).
• Log any correspondence with the client and Insurer/ Lender in the client file.
• Explain to the client any underwriting process which the particular Lender/Insurer may apply, including GP reports and the possible need for a medical examination or additional medical questionnaires.
• Outline the Insurer/ Lender’s administration process with an approximate timescale for the delivery of the policy documents/ loan offer/contract notes etc. to the client.
• Ensure that the client has received the policy documents.
• If applicable, explain to the client their cancellation rights.
• You are not allowed to hold any original policy documents on behalf of clients – on receipt of policy documentation forward originals to the client and keep a copy for the client file.
• Keep records safe and secure.
• All records must be stored for a minimum of 6 years (may need to retain for a longer period for long term financial products due Financial Services and Pensions Ombudsman Amendment).
• Ensure all virtual and paper files are readily accessible.

Important: Remember to keep contemporaneous notes of all contact with clients in the client file.