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FSAssist: the FSA Returns spreadsheet-based system
FSAssist is specifically designed to ensure that insurance company practitioners assigned the task of completing the FSA Returns can complete and submit accurate returns.
FSAssist enables firms to complete and submit their Quarterly or Annual FSA Returns electronically or on paper. It is flexible, easy to learn and use and suitable for Life and General Insurance companies of any size.
Contact us This spreadsheet-based system has been developed to enable Insurance Companies to complete their quarterly and annual returns to the Financial Services Authority either electronically or on paper.FSAssist is a Microsoft Excel application, and this base provides the user with a great deal of flexibility and transparency, allowing easy link ups with other internal data sources to minimise keyboard input. In many cases this linkage to accounting or valuation programs can be achieved by staff in the Accounting or Actuarial functions on their own, without significant need to call on scarce IT resources. It also makes for a very open system that is easy to use by anyone who has a reasonable grasp of Excel.
The development of the program has benefited from a good deal of customer feedback to make it as user friendly as possible.
The system produces output that is designed to meet FSA specifications for both printed forms and electronic files. The program will work in any version of Excel from 97 to 2003, and makes modest demands on computer hardware. The standard version meets the needs of the vast majority of UK insurers. Customers are free to tailor it to meet their specific requirements themselves or with our assistance.
A help desk is available via telephone or email.
Functionality
As supplied, the system is intended to meet the requirements of a large majority of Insurance Companies by providing a simple means to generate and complete their Annual Returns.
The system is designed to set up all the forms for the classes of business you transact after completion of a few very simple input screens.Many of the figures that can easily be transferred or totalled within and between forms are set up with automatic links. This is particularly useful if individual figures are changed during production, as it is easy to overlook knock on changes.
Previous year figures can be imported from one year's spreadsheet forms to the next. This will save work at the input stage and ensure a consistent starting point, but you will still be free to make any necessary adjustments.
Completed forms may then be checked for internal consistency by running tests that replicate as far as possible the automatic checks carried out by the FSA, plus some additional checks of our own.
This validation process provides you with a report alerting you to the points that may need to be checked.
For Electronic returns, the system also produces any other CSV files required whilst other text notes and certificates can be prepared in Microsoft Word. At the output stage all the necessary files, including the Word files are assembled together to complete the electronic return.
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