Scottish Widows has introduced an income protection product via Iress’ The Exchange platform, aiming to enhance financial resilience.
- The product is part of a broader strategy that includes existing term, multi-benefit, and mortgage protection offerings.
- Iress supports this launch, maintaining its dedication to offering an extensive product range for brokers and advisers.
- Rose St Louis from Scottish Widows outlines the intention to streamline processes for customer and adviser benefit.
- This initiative marks a step towards improved financial preparation for those unable to work.
Scottish Widows, a prominent name in the insurance industry, has launched a new income protection (IP) product through The Exchange platform, operated by Iress. This development aims at enhancing financial resilience for individuals unable to work due to unforeseen circumstances. By introducing this product, Scottish Widows continues to expand its portfolio, which already includes term, multi-benefit, and mortgage protection options.
The collaboration with Iress, a well-established partner, underscores the commitment of Scottish Widows to reach a broader audience. Iress has integrated this new IP product into its platform, known as The Exchange, which serves as a key tool for intermediaries to quote and apply for various insurance products. Jacqui Durbin, global head of product for sourcing at Iress, expressed delight in supporting Scottish Widows in this initiative through their extensive distribution network.
Rose St Louis, the protection director at Scottish Widows, emphasised the company’s mission to bolster people’s financial preparedness. She highlighted that the new IP product is designed to simplify the process for financial advisers, thanks to a more streamlined approach and an enhanced experience facilitated by technological partners like Iress. This launch is aligned with Scottish Widows’ goal to better serve customer needs through improved and accessible financial solutions.
Scottish Widows’ initiative is structured to provide peace of mind, offering financial security to those faced with the inability to work. The product’s integration into The Exchange reflects a commitment to innovation in insurance offerings and responds to the growing need for financial protection products. By partnering with Iress, Scottish Widows demonstrates a proactive approach to leveraging technology in service delivery.
This launch signifies a significant move towards enhanced financial security for individuals, reinforcing the role of technology in modern protection solutions.
