Start Providing Annuities

It’s never been so easy or cost effective to enter the annuity market in the UK. The Annuity Corporation together with their business partners are able to offer a complete, seamless end-to-end solution from initial quotation through on-line application to lifetime annuity administration including integration onto all the major annuity quotation portals.

Case Study: Hodge Lifetime

• Key Components
• • Annuity Quotation Service
  • Online Annuity Application
  • Internal quotes & reports functionality (including integration with existing back office systems)
  • Application administration and pipe-line processing including Annuity Options integration
• Route to market established
• Quotation capability and interfaces delivered on time
• New business handling and service capability delivered on time
• Highly automated solution
• Client and IFAs delight
• Working very well

Testimonial

“One of, if the not the, smoothest implementations we've seen. We will be recommending them to other product providers looking for development support for their projects.”
The Exchange's National Account Manager

Quotation System Summary

• An adviser performs an annuity quote via their preferred portal service
• The portal interfaces with the Annuity Corporation quote service via an Origo XML link
• The quote response is generated as well as a link to the online application process
• The response is displayed to the adviser through the portal in the usual way and access to the Client Specific Illustration pdf is provided
• The adviser is able to apply online via the link returned with the quote. Additional information pertinent to the application is collected from the adviser at this point and is used to generate the filled in application form pdf ready for the client to sign
• The data collected via the online application is used to create an XML message which is sent to the Xafinity Paymaster (and/or provider systems) containing all of the quote information
• Once pension funds have been collected, a final quote can be performed. The final quote process contains configurable business logic around expiry dates, rate changes and actual pension funds
• The final quote is returned to Xafinity Paymaster to finalise the annuity purchase.

The system also gives annuity providers access to a number of reports and admin tools and allows annuity provider to upload new quote engines and configure quote criteria without any system development or deployment.

The system provides a significant level of customisation, and it is possible to pick and choose which Annuity Corporation components to include within the solution and which in-house components should be re-used.