Origen unveils online and tele-underwriting for annuities

Origen Retirement Solutions, the at-retirement arm of Aegon-owned advisory firm Origen Financial Services, has introduced a new system to speed up the annuity underwriting process.

Origen clients will be able to complete health questionnaires for annuities themselves, and submit them either online or over the phone to Origen technicians.

The questionnaire is accepted as a basis of underwriting by all major annuity providers and will speed up the process of shopping around for retirement products, Origen said.

The move follows a trend for advisory firms and product providers streamlining the underwriting process.

In February, enhanced annuity provider Just Retirement launched a tele-underwriting service via the Openwork multi-tie network.

In May, Just Retirement rival Partnership and advisory firm Heath Lambert launched an annuity portal which used Partnership's mortality data and underwriting system.

The portal allows customers to complete the health questionnaire, see annuity quotes and buy annuities in one place.