What is a Part VII?
A Part VII transfer, also known as insurance business transfer scheme, is a court-sanctioned legal transfer of some or all of the policies of one company to another, governed by Part VII of the Financial Services and Markets Act 2000 (FSMA).
Some of the reasons companies may undertake a Part VII transfer
- combining similar business from two or more subsidiaries
- transferring business between third parties
- Separating different books of business and putting them into separate companies.
With this in mind, you can be assured that there is A LOT of data that will need to be processed.
Ensuring that the process of that transfer goes smoothly, having a partner with secure and accurate data processing as well as mailing and project management experience, gives you peace of mind.
This is where we come in!
Why choose Forth?
In 2006 we completed our first Part VII mailing, totalling a staggering 18 successful Part VII projects to date! Our team of 20 dedicated mailing data managers and processors combined with our 30 years of experience in policyholder communication ensure that your data is delivered accurately.
Want to know more? Click here to grab our very own complimentary Part VII guide, inside you will find;
- Key dates for production & distribution of communications
- Your communication obligations under legislation
- Recommended mail pack content, production & distribution
- Details on response management processes
We have the experience. We have the expertise.