Annuity providers are considering rolling out full online underwriting services direct to consumers, but what effect might it have on advice delivery?
Enhanced annuity providers are considering direct-to-consumer (D2C) online underwriting, and potentially cutting advisers out of the initial stages of annuity shopping. Current processes Online annuity comparators available to consumers ask only limited questions, related to fund size, age, sex, smoking and medication use. For more tailored underwriting, consumers must go direct to an insurer specialising in enhanced life annuities and complete a health questionnaire over the phone or on paper, or do it via an IFA. Online capability Partnership is the only enhanced annuity provide...
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