Norwich Union, the UK's largest insurer, has led the on-line stakeholder market by being first to link up with new IFA portal services. On 6 April Norwich Union was the only provider to offer on-line applications via AssureWeb and the Exchange for Norwich Union stakeholder pensions.
Norwich Union, the UK's largest insurer, has led the on-line stakeholder market by being first to link up with new IFA portal services. On 6 April Norwich Union was the only provider to offer on-line applications via AssureWeb and the Exchange for Norwich Union stakeholder pensions.
Norwich Union has also taken the lead in being the only insurer providing stakeholder pension illustrations on AssureWeb and Exchange portals. This will be shortly followed by the launch of pension illustrations on Bankhall and the Synaptic/IFA On-Line services.
As a result, over 50,000 IFA portal users will have access to Norwich Union stakeholder illustrations and new business functionality, with a wide range of supporting documents and product information.
Together with illustrations and on-line applications via Norwich Union's own dedicated IFA Extranet*, this latest development reinforces our commitment to offer a wide range of customised access options to on-line products and services for IFAs.
Iain Buckle, Head of individual pensions, said "Portals are a key tool used by IFAs to access the new stakeholder market. Transacting business electronically is faster and more convenient for IFAs, their clients and providers. The provision of efficient on-line services to IFAs is a crucial element of our drive to achieve a significant lead in the new '1% stakeholder world'."
* The IFA Extranet can be accessed through : www.norwich-union.co.uk/ifa
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Notes to editors
- A stakeholder pension is a new type of private pension available from 6th April 2001 and meets new regulations set down by the Government.
- The value of investments can go down as well as up and is not guaranteed. Full written details are available on request.
- CGU plc and Norwich Union plc merged on 30 May 2000 to create CGNU plc, the UK's largest insurance group and one of the top-five insurers in Europe with substantial positions in other markets around the world, making it the world's sixth largest insurer based on gross worldwide premiums.
- CGNU's principal business activities are long-term savings, fund management and general insurance, with worldwide premium income and retail investment sales from ongoing business of over Ł27 billion and assets under management of more than Ł210 billion.
- From October 2000, the combined life and pensions, general insurance and retail fund management businesses in the UK operate under the Norwich Union brand, while the institutional investment business operates under the Morley Fund Management brand.
- CGNU's news releases are available on the internet at /www.cgnu-group.com
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