Anorak has launched the first “instant life” product on its partner and intermediary platforms, enabling policy activation in five minutes.
Offered by Cignpost Life, the policy can be purchased online by answering five medical history questions.
The proposition encompasses term life and optional
critical illness cover.
The Anorak platform provides product recommendations which are ranked by suitability and based on the consumer’s financial needs and personal circumstances.
Paul Foody, chief operating officer at Cignpost, said the platform’s life proposition has been built around simplicity and speed.
“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,” he added.