Industry collaboration fintech Origo has signed up 10 annuity providers to its recently launched Origo Annuity Transfer Tracking service.

The tracking service uses real-time data from the Origo Transfer Service which covers pension providers and annuity providers.

It allows advice firms to see the progress of their clients’ annuity purchases and integrates with their back-office/CRM.

Origo says the real-time data tracking avoids the need for chase-up calls to providers and can save time and resources for both providers and advice firm back-office staff. 

The 10 companies signed up to the service includes key players in the annuity market, Origo says.

The firm signed up so far are:

• Age Partnership
• Canada Life
• Hub FS
• Just Group
• Legal & General
• My Pension Expert
• Pension Potential
• Retirement Line 
• Standard Life 
• Scottish Widows

Orifo CEO Anthony Rafferty said: “Annuities rates have risen in the past few years, following the rise in interest rates, which has made annuities more attractive to advisers for their clients and driven up demand. This in turn has highlighted the clear need for advisers to have greater visibility of the transfers being made, if they are to provide the quality of service their clients now expect.   

“The Origo Annuity Transfer Tracking service enables annuity brokers and advice firms to see the status of their clients’ transfers from pension to annuity within their back office, making for significant savings in time and costs of chase-up calls to providers. The transparency of the service means advisers can keep their clients updated, helping to deliver a better service to each end client.”