Insurtech Anorak, the fully automated life insurance advice platform, has partnered with Iress to provide a protection advice platform to mortgage brokers.
Anorak has developed a cloud-based software protection advice platform for mortgage brokers. In addition, this latest partnership with Iress will help reduce the advice gap that exists among brokers.
Furthermore, the Anorak For Advisers platform enables mortgage advisers to educate clients on their protection needs. This should lead to better client outcomes. Anorak enables mortgage brokers to instantly know their clients’ financial liabilities and be guided to build an affordable protection recommendation as well as a suitable solution.
Iress’ technology has been fully integrated into the Anorak for Advisers platform. Realtime quotes can be provided without ever leaving the Anorak platform.
Dave Miller, executive general manager – commercial at Iress, said: “Protection can sometimes be something of an afterthought for many advice firms and the integration with Anorak is intended to help protection become a core part of the mortgage journey. The partnership means we’re now able to bring this information and technology to a large proportion of the market, enhancing the user journey, and helping advisers create better outcomes for their clients.”
David Vanek, CEO and co-founder of Anorak, added: “For far too long, the Life insurance industry has dwelled on the protection gap, but failed to recognise that this gap is partly caused by an advice gap, particularly among mortgage advisers. We’re delighted to work with Iress, to provide an easy-to-use advice platform which puts protection knowledge at the fingertips of mortgage brokers.
“With more young buyers entering the market, as ‘Generation Rent’ becomes ‘Generation Buy’, there is an increased need for financial protection, and advisers have an invaluable role to play in providing impartial advice and identifying protection gaps, whilst ensuring millennials receive the best mortgage arrangements.”