GENERAL INSURANCE VERSION OF TCF BASEBOARD™ LAUNCHED

TCF Index Limited, the first dedicated Treating Customers Fairly consultancy, has launched a general insurance version of their TCF assessment tool, the TCF Index BaseBoard™. This follows steady demand from the sector since the BaseBoard™ since the company launched in May 2007.

The general insurance version uses the same methodology as the original version for life, pensions and investments product providers. It analyses a company according to the four key components in looking after customers properly, namely: • Proposition (i.e. what is being offered) • People (i.e. who is involved in offering it) • Service and Delivery (i.e. how it is being offered) • Communications Design (i.e. how it is being communicated)

Through a process of depth questioning and gathering of appropriate management information, the BaseBoard™ produces a view of how the company sits within the TCF principles, and it highlights areas of strength and weakness to enable senior management to take appropriate action. Subscribing companies are given access to their own BaseBoard™ with tutorial support to enable them to undertake their own TCF assessment. However, there is also the option to have an independent assessment of TCF performance undertaken by the TCF Index team of consultants.

Joint Managing Director, Phil Evans, commented: “By March 2008, the FSA wishes to see that firms have the appropriate management information or measures in place to test whether they are treating customers fairly. Our system enables insurers and brokers to have a specially adapted, tried and tested TCF tool at their disposal that will significantly enhance their ability to demonstrate their commitment to TCF.”

Further details can be found at www.tcf-index.com.

ENDS