Annuity and investment solutions firm Axonic Insurance has announced an alliance with iPipeline that streamlines the annuity order entry process.
As a result of this partnership, Axonic has launched an annuity offering, VantagePoint, a multi-year guaranteed annuity product.
Through this alliance, Axonic can access the distribution system of Libra Insurance Partners, a US-based insurance marketing organisation, making VantagePoint and other annuity products available to its Libra network.
Axonic Insurance CEO, Michael Gordon, said: “Integrating iPipeline’s purpose-built annuities platform helps us in our mission to simplify the buying process by removing all friction for today’s consumers who want and expect speed and simplicity.
“Insurtech solutions that easily integrate and are swiftly deployed enable our team to quickly scale new products, without back-end development.”
Using iPipeline’s AFFIRM solution, an end-to-end financial planning platform, Axonic has integrated its latest annuity product to create a user-friendly, straight-through process.
This aims to fully automate the annuity sales process, reduce consumer touch points, and speed up the time to sale.
iPipeline CEO, Pat O’Donnell, added: “We are thrilled that LIBRA has connected us with a new technology-forward manufacturer like Axonic.
“We are gratified to alleviate the many frustrations that agents and customers alike experience in the annuity’s sales lifecycle.
“LIBRA is fully dedicated to bringing the manufacturer, the distributor, and the tech provider into sync when it comes to providing customers with great annuity products in a smooth digital experience.
“BGAs can now take advantage of state-of-the-art order entry technology that broker-dealers already enjoy.
“This incredibly expands the current options BGAs have in introducing one of the state-of-the-art platforms.”
tom.dunstan@ft.com
What’s your view?
Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com
