Scottish Widows has made its new income protection (IP) product available through the Exchange online quote and buy system used by advisers.

The new IP product will add to Scottish Widows’ existing Term, Multi-Benefit and Mortgage Protection products available on The Exchange, owned by global fintech Iress.

Jacqui Durbin, Iress’s global head of product for sourcing, said: “As long-standing partners of Scottish Widows, we’re delighted to support its launch into the Income Protection space through our extensive distribution network on The Exchange.

“It also supports our commitment to offering the broadest range of products to brokers and advisers.”

Scottish Widows’ protection director Rose St Louis, said: “Our goal is to help people to be better prepared financially if they were not able to work.

“Our new IP product is the next step on our mission to help people build their financial resilience and make it easier for advisers to serve more of their customers’ needs with a streamlined process and slicker experience through tech partners like Iress.”

The Exchange is a widely used online sourcing platform for financial advisers in the UK, particularly in the life insurance sector. Advisers can compare and source insurance products, including life insurance, critical illness cover and income protection, from multiple providers.

Iress provides software and services for trading and market data, financial advice, investment management, superannuation, life and pensions and data intelligence in Asia-Pacific, North America, Africa, the UK and Europe.