Iress has announced a partnership with Aviva to launch a new guaranteed fixed term income plan.

This will be available through a seamless online annuity quote and application process on Iress’ platform, The Exchange.

Iress suggested that the plan would offer a guaranteed income for a fixed number of years, with options for a maturity value at the end of the term and death benefits. The application process is fully online and integrates directly with quote data, to reduce the need for rekeying and application times.

The move has made Aviva the third major annuity provider to adopt Iress’ online annuity application process, following Standard Life and Prudential.

Iress head of product – sourcing, Jacqueline Durbin, said: “It is great to see another big name in annuities move towards an online application process. For far too long, this corner of financial services has relied on paper.

“By embracing online applications, providers like Aviva are leading the way in supporting advisers with faster, more accurate tools that drive better customer outcomes.”

Aviva director of individual annuities at Aviva, Claire Reed, added: “We’re delighted to be working with Iress to bring our guaranteed fixed term income plan to advisers through The Exchange. This partnership reflects our commitment to innovation and improving customer outcomes.

“By streamlining the application process and integrating directly with quote data, we’re helping advisers deliver a faster, more efficient service that makes securing the right retirement income for their clients simpler and more accessible.”

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