Frequently asked questions
Help is at Hand
How long does it take to set up an agency?
Once we receive a completed agency application, we can normally carry out the necessary compliance checks and get a Terms of Business Agreement to you in just a few days. Once you have signed the agreement we will give you access to our systems straight away. If you need an agency setting up urgently to place a customer on risk, please speak to us and we will do everything we can to process your application as quickly as possible.
When do you pay Commission?
We pay commission on or around the 15th of each month. Payment is made for all policies where a successful premium payment has been received in the previous month.
Do you pay commission upfront on indemnity?
Yes we pay 12 months upfront commission on all new policies (with the current exception of Travel Insurance). Commission is on a pro-rata indemnity basis, so if the policy cancels mid term we will claw back a proportion of the commission initially paid from your next commission statement. At renewal we will pay trail commission on a monthly non-indemnity basis.
Do you provide product knowledge training material for your products?
Yes as a registered agent you will have access to the Cavere Training Centre which contains information about all our products. Each of your advisers/consultants can be registered on a course for each product which will allow them to take a test at the end of the course to evidence they have completed the material. A certificate will be issued with all pass grades which can be used towards your CPD records in compliance with the Insurance Distribution Directive (IDD) requirements.
Do you cover non-standard risks?
Yes we can place risks that do not fall under what would normally be classed as standard. Where we cannot offer the cover internally through our existing binding authorities then we have partners we can refer your customer to which will still allow you to earn commission through your agency with us. See our Non-Standard risks page for more information.
How are the customers we introduce serviced?
Once you have introduced a customer to us we will deal with all their questions, queries and changes they wish to make to the policy. We will keep you informed all the way. Your customers will also be able to access their policies online via a dedicated customer website where they can also register for a customer account and view their policy, renewal details and payments etc online 24/7.
Can I sacrifice some of my commission if needed to compete on price?
Yes you can choose to reduce your commission at the point of sale as a "price beater" facility if required, and the customers policy will show the discount you have given them. You can choose to sacrifice your commission in intervals of 1% up to the maximum on your agency.
Can customers pay monthly by direct debit for their policy?
Yes your customers can choose to pay monthly by direct debit. There is no charge and no consumer credit agreement to complete with us to pay monthly. Your customer can also pay annually by debit or credit card if they prefer.
Do you provide risk transfer to agents?
No, we do not provide or cascade risk transfer to our agents. Our application website is integrated directly with both Worldpay for credit and debit cards, and with BACs for payments by direct debit so risk transfer is not required to submit business to us.