Aviva, Legal & General, Royal London and Scottish Widows have joined forces with fintech Origo to transform and remove “pain points” in the letter of authority (LoA) process.
Origo said the providers would work together to establish best practice in LoA processes and increase digitisation. It explained that each provider dealt with significant volumes of LoAs across different products and teams, which can mount up to thousands of requests each week. Collectively, about 500,000 LoAs are processed each year, with no way for advisers to track their progress without chasing providers. Origo said the providers were working together to take a range of "practical steps and actions to significantly improve the LoA experience for advisers and clients through dee...
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