A new underwriting service has been launched by retirement income and equity release specialist Age Partnership.
Called Age Partnership Underwriting Services, it will help pension schemes that are considering a bulk purchase annuity contract.
The service will collect health and lifestyle data from scheme members and dependents to allow insurance companies to better understand longevity.
It is aimed at defined benefit pension schemes whose trustees are considering a bulk purchase annuity process where scheme members’ health and lifestyle are taken into account.
Adam Carnall, head of Age Partnership Underwriting Services, said: “The decision to move into the BPA market as a data collector has been an easy one. For many years, through our annuity broking service, we have been collecting high-quality underwriting data from customers for individuals’ enhanced annuity sales. One of the key strengths of our business is our people and how we engage with our customers.”