EasyPARP
“The challenge is to gather all necessary information in a product file and present it in a clear and comprehensible manner.”
PARP
EASYPARP assists and guides financial service providers in structuring and establishing a correct and sustainable product approval and review process. Additionally, we aid in drafting the appropriate documentation and filling in this PARP documentation, such as product descriptions, product specifications, addressing PARP findings, and composing the final PARP documents.
The Insurance Analysis comprises several elements from which you can choose to navigate through the PARP process for your products in areas such as Property, Mortgages, Loans, Life, Income, and Health:
- Intake Interview
- Survey of products subject to PARP.
- Example PARP: the EASYPARP for one of your products.
- Documentation and templates for independently completing PARP.
- Mapping PAR findings per product.
- Support for the prompt and accurate resolution of your PAR findings.
- Rewriting policy conditions, used clauses, brochures, standard correspondence, etc.
- PARP training for your staff (What makes a good PARP and what essential elements should it include?).
- Management and maintenance of your PARPed products.
- Review of other products to be subjected to PARP.
We believe that with PARP, you establish a sustainable foundation for the professionalism and quality of your products. By adhering to KNVB criteria and addressing findings, you can make your organization even more efficient. In consultation with us, we can provide you with a quote, allowing you to specify which steps of the process you will handle, where you need our support, and which steps you wish to outsource to us.
With experience in both delegated authority offices and insurers, we aim to assist you and provide you with the necessary information effectively.
IDD (Insurance Distribution Directive)
We also provide support in the area of the IDD. In Scienta, we have developed a module explaining the IDD and detailing its impact on daily activities, product development, and business processes. With this module, you will be fully informed about the IDD and can document how you comply with the standards from various aspects of the IDD, ensuring that you remain ‘in control.’
“Utilize our expertise and let us guide you through PARPing and the IDD!”
Additional Services (for a fee)
In addition to the above elements regarding our PARP services, we also offer (custom) additional services to ease your workload. We are pleased to handle the following tasks for you:
- Writing or rewriting policy conditions.
- Developing and making new insurance products market-ready with PARP compliance.
- Creating IPIDs (technical and legal check).
- Setting up PARP in your Scienta and review calendar.
- Resolving PARP findings.
- Coordination regarding PARP.
- Coordination of IDD and IDD Module (including our Complianttool with AWI Software).
- Reviewing products from A to Z in all branches, for both insurers and delegated authority offices.
We are here to relieve your concerns about PARP. If needed, we can take over the entire PARP process/project for you, managing everything from A to Z, allowing you to focus solely on your business.