Selectapension has launched a new Quote and Apply tool, which enables users to create a product quotation and application without the need to re-key data entered on the Selectapension site. This significantly speeds up the application process, improves business efficiencies and does away with re-keying risks for financial advice firms and providers.
The tool uses the Origo Integration Hub (OIH) to streamline connectivity with providers. The OIH enables all companies connected to the Hub, product providers, platforms and software providers to link to any other company for designated services – currently, account opening, valuations, bulk valuations, bulk transaction history, remuneration, transfer tracking (for platforms/providers) – avoiding the need for point-to-point integration and improving connectivity for the industry.
Aegon is the first provider to link to the new Selectapension tool. The new functionality allows users to click straight through to the Aegon Platform SIPP Quote and Apply journey and obtain live illustrations directly from the results screen of Selectapension, without having to re-key as the Aegon SIPP illustration and any subsequent online application form are pre-populated. More providers are set to join the service in due course.
The new service is free to use for subscribers of Selectapension and will feature across their product comparison tools – pension switching, investment switching, defined benefit transfer, new pension projections and cashflow and drawdown strategy tools.
Andy McCabe, Managing Director at Selectapension said: “Our new proposition allows the end user to streamline the advice process in one single action. This makes the need for separate systems / platforms a thing of the past and any time saving makes the financial review and advice process so much more cost effective.”
Anthony Rafferty, Managing Director of Origo, said: “This is exactly the kind of efficiency and cost savings we want to help firms across the market to achieve – the raison d’être of Origo Integration Hub, if you like.
“Selectapension were one of the industry participants involved in the scoping out and development of the Origo Integration Hub and the Quote and Apply tool is a clear example of how this technology can be used to help the industry improve efficiencies, cut costs and deliver better and faster service for end clients.”
Ronnie Taylor, Chief Distribution Officer at Aegon: “We are pleased to be the first provider to work with Selectapension to launch the new Quote & Apply tool. By streamlining the process, this new functionality will ultimately save advisers valuable time and effort, enabling them to click straight through from Selectapension on to the Aegon Platform to complete their selected journey.”
