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ITC Compliance
Saturday 31st October 2020 4:00am
T: 0845 177 22 66
F: 0845 177 22 55

Motor Dealers - your options

As a motor dealer wishing to sell regulated insurance products you have three options:

  1. Become or stay fully authorised by the FCA
  2. Become an Appointed Representative of a Product Provider
  3. Become and Appointed representative of an Independent Network - ITC

If you were to look at the merits of each of the options you might end up with a table a bit like the one below:

Become or Staying Fully Authorised Become or stay an Appointed Representative of a Product Provider Become an Appointed Representative of an Independent Network - ITC
Ability to negotiate rates and terms from across the market
Have a set fee regardless of the number of policies sold and pay monthly by Direct Debit
Able to choose products of your choice and switch at will
Support with bespoke compliance documentation allowing a choice of products from a variety of suppliers
Dedicated compliance support free from sales conflicts
Availability of electronic signature pads covering a range of policies and providers
Availability of a range of different sales methods to suit your needs

The above table is for illustrative purposes only however as you can see, to stay independent (making your own decisions), ITC are the logical choice.