Ten major annuities providers, including Canada Life, Just Group, Legal & General, Standard Life, and Scottish Widows, have joined Origo’s new annuity transfer tracking service.
Advice firms can directly monitor the status of their clients’ pension-to-annuity transfers with Origo’s Annuity Transfer Tracking, which leverages real-time data from the Origo Transfer Service. According to Origo, it saves both the provider and adviser teams time and money by integrating with their CRM and back-office systems, removing the need for provider follow-up calls.
Age Partnership, Hub FS, My Pension Expert, Pension Potential, and Retirement Line are among the other companies that have joined.
Origo CEO Anthony Rafferty says: “Annuities rates have risen in the past few years, following the rise in interest rates, which has made annuities more attractive to advisers for their clients and driven up demand. This in turn has highlighted the clear need for advisers to have greater visibility of the transfers being made, if they are to provide the quality of service their clients now expect.
“Origo’s mission is to help the industry solve its pain points and help to improve the industry’s efficiencies, costs and service to end clients.
“The Origo Annuity Transfer Tracking service enables annuity brokers and advice firms to see the status of their clients’ transfers from pension to annuity within their back office, making for significant savings in time and costs of chase-up calls to providers. The transparency of the service means advisers can keep their clients updated, helping to deliver a better service to each end client.
“Unsurprisingly, the service has received considerable interest within the industry, reflected in these 10 key companies in the market adopting the service.”
