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' strategy sits alongside our strategy.”