LV= is to move to a fully automated system for annuity applications.
The service, which will be powered by The Open Market Annuity Service, will allow all direct and advised annuity applications to be completed online.
The process currently sees documents requiring a wet-signature sent to advisers and clients.
LV= head of retirement propositions Philip Brown says: “This move is key to our ongoing strategy of making it easier for advisers to do business with us.
“The new system is time efficient and provides certainty for advisers that they won’t miss out on the guaranteed period.”