Scottish Widows has introduced a new income protection product on Iress’ platform to enhance financial resilience.
- The product is part of Scottish Widows’ extensive suite, including term, multi-benefit, and mortgage protection.
- This addition aims to simplify processes for advisers using Iress’ tech platform, streamlining client services.
- Iress supports this launch, reinforcing their partnership and commitment to offering diverse options.
- The collaboration reflects a strategic move to address financial security needs in today’s market.
Scottish Widows has launched a new income protection (IP) product through Iress’ platform, The Exchange, aimed at bolstering financial preparedness for those unable to work. This move is a significant addition to their extensive suite of products, which also includes term insurance, multi-benefit packages, and mortgage protection, all available via the same platform. This integration is expected to enhance the accessibility and convenience for intermediaries when handling client needs.
The introduction of this IP product is designed to streamline the advisory process. Utilising Iress’ technological capabilities, it aims to provide a more seamless and efficient service for advisers, thereby enhancing the overall client experience. The platform offers a broad distribution network, facilitating a wider reach for Scottish Widows’ offerings and ensuring that advisers can meet the diverse protection requirements of their clients with ease.
Jacqui Durbin, the global head of product for sourcing at Iress, emphasised the longstanding partnership with Scottish Widows and expressed delight in supporting their entry into the income protection market. She stated, “It also supports our commitment to offering the broadest range of products to brokers and advisers.” This collaboration underscores the commitment to expanding product availability and improving service delivery.
Rose St Louis, protection director at Scottish Widows, noted the company’s mission to enhance financial resilience. She said, “Our new IP product is the next step on our mission to help people build their financial resilience and make it easier for advisers to serve more of their customers’ needs with a streamlined process and slicker experience through tech partners like Iress.” This statement reflects the strategic approach to addressing the economic uncertainties faced by many potential clients today.
The launch of this income protection product signifies a strategic enhancement in Scottish Widows’ efforts to meet evolving financial security needs.
