Marvin OnumonuiPipeline has launched ‘E-Apply’, a digital option for annuity applications in its Assureweb portal.
This allows advisers to complete the whole application process online for the first time.
The tool is now available with Standard Life with Scottish Widows planning to offer it soon.
The digital application is intended to help advisers move away from manual, paper-based systems.
The company developed E-Apply using feedback from advisers and experience from building its SolutionBuilder platform.
The aim was to make the process straightforward and help advisers submit annuity applications faster.
Paul Yates, product strategy director at iPipeline, said: “We know there are still too many legacy, manual processes for advisers of all types, and the annuity application journey is just one of them.
“This market deserves our attention, especially when you consider the phenomenal growth we’ve seen in the last two years.
“By offering advisers a straightforward digital application option, we’re bridging two previously disconnected processes.”
Yates added: “This not only saves advisers valuable time but also enables them to deliver a faster, more seamless service to their clients.”
Jon Scannell, head of annuity distribution (retirement income) at Standard Life, said: “We are excited to work with iPipeline to provide a new digital journey that aligns with the way advisers work.
“This marks the latest step in our ongoing commitment to improving how customers access the solutions they need.
“For advisers, it also means a simpler, more streamlined annuity application process, bringing meaningful time-saving benefits.”
Simon Mitchell, head of annuities at Scottish Widows, said: “As market demand for our annuity product increases, we looked at ways to improve the application experience and get money into our customers’ hands more quickly.
“Our annuities transformation initiative will use new technologies to digitise, streamline, and enhance our annuities offering.
“Partnering with iPipeline aligns with our goal to make the application process as simple as possible, allowing Independent Financial Advisers (IFAs) to click from a quote straight to a prepopulated digital application form and submit digitally.”
