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Five firms sign threeyear Assureweb deals

Five more product providers have cemented their commitment to Assureweb by signing three-year deals with the IFA portal.

Axa, Clerical Medical, Scottish Mutual, Britannic Retirement Solutions and Swiss Life have all signed three-year contracts for unspecified sums instead of their usual 12-month deals.

Norwich Union, Scottish Widows and Friends Provident took a 40 per cent stake in the portal in January in a £26m deal.

Assureweb owner Assuresoft says it is in talks with other providers to secure long-term commitments and says the deals with the providers on board allow any provider to sign up.

Life office giants Stand-ard Life, Prudential, Aegon and Skandia are still not committed to the platform on a long-term basis.

Assuresoft marketing manager Maxine Hughes says: “This first tranche of product providers showing a three-year commitment means that Assuresoft can plan for the future.

“These deals give us a significant cashflow injection and guarantee that we can continue our work with the product providers to provide full end-to-end processing.

“Knowing that these providers want to be involved over the long term means we know where we are going as it means the providers&#39 strategy sits alongside our strategy.”

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