A step forward for CRIF and Elixir Intelligence in supporting leading UK life insurers
CRIF is pleased to announce the signature of a new agreement with Elixir Intelligence. The Elixir project was developed by CRIF in 2000 to enable a community of life insurers to use the system to validate and monitor the entire lifecycle of their business relationships with individual IFAs, supporting transparency and efficiency in relation to commission credit and debt.
Over the last twenty years, relevant data have been compliantly shared between Elixir users to mitigate potential risks who may systematically target multiple insurers in order to commit commission fraud, and IFAs, who may repeatedly require extensive and long-term commission credit due to financial instability.
The recent agreement follows a comprehensive member questionnaire to highlight any enhancements and new features that may be required, including a full programme of assistance during the Elixir Intelligence rebranding process as well as a number of cosmetic and functional improvements to the service.
Mike Pritchard, Chairman of Elixir Intelligence commented:
“To continue our longstanding relationship, I am pleased to confirm that we will be maintaining our close ties, interaction and great support from CRIF. The Elixir Intelligence programme successfully co-exists due to the good work from both our members and the CRIF team. We see the next 5 years going from strength to strength with the enhancements built in to the new contract. Thank you to all in CRIF for your continued support.”
Sara Costantini, Managing Director of CRIF Decision Solutions said: “We continue to listen carefully to the evolving needs of the Elixir Intelligence insurer community to further improve the quality of our service and develop new functionalities. Such a long-lasting relationship is even more valuable in a “hit and run” era of hectic and changing partnerships and is based on reciprocal trust and a willingness to cooperate for the benefit of the community itself. This trust has made this project unique and successful by building confidence in relation to the commission risk that members face. We look forward to helping this life insurer community even more in the near future with new fully digital initiatives to further streamline their operations and decision-making process”.