‘Instant’ life product launched onto digital partner and intermediary platforms
As part of the announcement in the summer that Albany Park is offering offline protection advice alongside Anorak's online platform, we reported on its plans to add Cignpost Life to its D2C and broker platforms.
Today, Anorak has confirmed that the online life cover, with critical illness cover as an option, has been added its partners - Yolt, Starling Bank, Nutmeg - as well as its intermediary platforms.
The technology firm said it is able to put policies on risk in as little as five minutes, using five medical history questions, with Albany Park advisers offering assistance where complex cases cannot be completed online.
The Anorak platform publicises that it provides regulated protection advice alongside product recommendations based on the suitability of a customer's financial needs.
"We are proud that our Cignpost Life product is the first instant life product to be distributed via the Anorak platform," said Paul Foody, chief operating officer at Inchora. "Our life proposition has been built around simplicity and speed, with the ability to purchase cover online by answering just five medical history questions, something that we believe is extremely important in the ‘on-demand' culture that we live."
"Technology has fuelled a shift in purchasing behaviour and consumer needs are changing. We believe that the Anorak platform and our Cignpost Life product are examples of protection solutions which are relevant for the needs of today."
David Vanek, co-founder and CEO of Anorak, added: "Anorak aims to give everyone easy access to protection advice and cover. The new generation of consumers want to feel in control and are comfortable buying life insurance online, provided they receive adequate guidance to properly understand their needs. Equipped with this information, consumers expect to be able to activate cover instantly online. This is exactly what Cignpost Life offers, easy to buy cover, available immediately, with no compromise on quality."
We recently reported that Starling Bank had added Anorak advice for sole traders
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