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What we are thinking (and doing)

 

Below are current ideas and projects we are working on now.

 

Clients come to CTC for business innovation and certainty of regulatory compliance.

 

We have a proven track record of turning ideas quickly into software and timely delivery for regulatory deadlines.

 

Click here to see the full CTC Periodic Table

Here are recent projects or ideas we are working on now.

Auto Enrolment Costing
Helping employers understand staff costs from AE compliance

 

Employers, and their advisers, need systems in the initial analysis phase to simply explain the costs that will be involved to employers (and their staff) prior to the initial staging date. 

 

CTC provides a cost analysis modeller for employers allowing "what if" comparisons of the various scenarios available to employers in meeting their AE obligations.  

 

 

Drawdown Suitability
Adviser efficiency through automated report generation

 

The requirement for providing detailed advice and recommendations around the options available at retirement is growing.  It is a complex area pulling information from annuity quotation, GAD maxima, drawdown projections and critical yields, together with attitudes to risk and appropriate investment recommendations. 

 

The CTC Drawdown Suitability Report Generator significantly reduces the time and cost in generating a personalised branded report.

 

 

Auto Enrolment - Staff assistance
Helping employees assess the AE opt-in/out question

 

Auto Enrolment may not be suitable for all employees especially those facing other financial pressures. 

 

CTC online tools are available as an integral part of the communication process both with the initial group of employees, at the employer staging date, and for ongoing new entrants. 

 

 

Illustrations - regulatory changes 2014
Affecting all existing and in-force business

 

Alongside inflation-adjusted figures for projections, PS13/2 from the FCA gives clear direction to the industry on the format for illustrations.  The guidance for simplified illustrations is an opportunity for providers to improve the customer experience and ease-of-doing business for advisers.

 

CTC has created a design for illustrations fully meeting regulatory requirements which can be tuned to a provider's branding.   

 

 

Heritage Marketing
Maximizing the embedded value of heritage business

Over £800bn of assets sit with life companies in products that are no longer actively marketed.  These assets generate significant cash and future value  but the related products can be capital intensive.  For products administered with old technology it is expected that the regulatory authorities will make life harder by raising capital requirements.  Meanwhile we are witnessing increasing attrition as customers get drawn to products with greater transparency.

 

CTC's Heritage Marketing solution can be used to analyse a book of business (by product, system or customer segment) and determine options that can best meet customer needs and optimise provider profitability.  This analysis informs marketing campaigns that can then be executed using Heritage Marketing.  Offers can be sent to customers who have access to a portal to explore and make their own decision.   

SIPP Straight Through Processing
Attracting new business efficiently with no/lo touch processing

 

For a number of years CTC have been providing online application facilities as an adjunct to the Elements Illustrations.  Where CTC's Administration system is also being used (particularly for SIPP business) a fully integrated proposition can be presented whereby information used by advisers in generating pre-sale KFIs can automatically be incorporated into online applications and this data fed automatically into the administration modules with no need for rekeying.

 

 

Group pensions and corporate wrap
Supporting creative workplace propositions for savings

 

CTC's Elements platform has been used for many years to administer Group Personal Pension arrangements.  In 2006 it was enhanced to deal with the administration of SIPPs (ranging from simple to the bespoke) and ISAs and general investment accounts. 

 

The growth of workplace pensions is spurring providers to bring forward creative propositions - all coped with by Elements.  Starting with the ability to handle multiple payrolls, benefit and product features varying by employee category, with links to diverse investment models including fund supermarkets, property and DFM.  

 

 

DB Scheme Modelling
Automated support for advising employers and trustees

 

Advisory firms often develop their own models (frequently with spreadsheets) or use tools to perform deep one-off analytical consultancy exercises for pension schemes.  CTC's modelling tools can help automate the process, making it more readily repeatable and support an efficient on-going advisory process.

 

An interactive graphical front end from CTC can overlay existing spreadsheet models or be driven by valuation system.  The outcome is that employers can drive the models themselves calling upon advisory support when wishing to explore options and actions.

 

This can cover - 

  • Scheme reviews - including progression on assets, liabilities and deficit, analysis of movements
  • Scenario modelling - considering changes in benefit bases, economic factors, mortality and investments
  • Options assessment - assessing the cost of various options (e.g. buy-outs) and the implication for the scheme going forward

 

 

 

BPA Underwriting
Increasing accuracy on Bulk Purchase Annuity quotes

To enhance CTC's BPA quotes capability, we are currently introducing an underwriting module.  The full solution has a communication and CRM facility connected to a portal which can smartly gather underwriting data from scheme members.

 

This can be used by advisers seeking quotes for schemes from insurers in order to get more accurate pricing.

 

Annuity providers can use this to build up underwriting experience and inform pricing.