iPipeline, a top UK provider of digital solutions for the life insurance, pensions, savings, and investment sectors, has introduced E-Apply, a new digital annuity application feature within its Assureweb® platform. This marks the first time financial advisers can complete the entire annuity process online, streamlining applications and cutting down on time and paperwork.
The new tool debuts with Standard Life, part of Phoenix Group, with additional providers such as Scottish Widows set to follow soon. E-Apply signals a step forward in transforming the traditionally manual annuity space with smart, integrated technology.
This streamlining of the application journey is hugely significant for the annuity market, which has been growing over the past few years. To ensure this trajectory is maintained, it’s vital that advisers can access an efficient process.
Incorporating insights gained from creating the SolutionBuilder® platform and through feedback from advisers, iPipeline developed the easy-to-use and seamless service specifically designed to accelerate the application process and enhance the overall efficiency of the advice journey.
This initiative comes at a particularly timely moment, following the recent resurgence in annuity sales. The FCA reported a 38.7% year-on-year increase at the end of 2024. The new, smoother process is set to support this momentum and help ensure the growing market continues to thrive.
Commenting on the launch, 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. 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), Standard Life added: “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, added: “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.”