The move by Hub Financial Solutions, part of Just Group, marks another move away from reliance on ‘wet-signatures.’
Hub says changes to its business processes have been agreed by a number of providers to make life easier for clients shopping around retirement income.
The changes mean clients can proceed with applications and verify their identities from home without the need to post documents, says Hub.
Hub says its proposals have been accepted Aviva, Canada Life, Hodge Lifetime, Just Group, Legal & General and Scottish Widows and also its affinity partners Phoenix, Prudential and Royal London.
Hub works mainly in the lifetime mortgage / equity release sector and also offers advice on annuities and other retirement income products.
Simon Gray, managing director of Hub Financial Solutions, said: “During the lockdown we wanted to better support our customers, many of whom are vulnerable and self-isolating at home, perhaps with no access to printers or family help accessing technology.”
“We are delighted that our proposals to help customers navigate some of the barriers created by the government’s Stay-at-Home policy have now been adopted by all the key providers in the Guaranteed Incorme for Life market which means we can ensure customers can secure the retirement incomes they need.”
Hub will continue to complete applications with customers via phone but will move to an email confirmation process using secure passwords rather than by post. Customers can review applications and email confirmation rather than providing wet signatures.
The firm says that “robust” identity checks will remain in place to ensure continuing compliance with anti-money laundering rules.