Some of the nation’s largest pension providers have agreed to business process changes to help customers shop around for annuities amid the coronavirus crisis.

The measures have been adopted by Aviva, Canada Life, Hodge Lifetime, Just Group, Legal & General and Scottish Widows, along with its affinity partners Phoenix, Prudential and Royal London.

The changes, which were proposed by Hub Financial Solutions, mean that customers will no longer need to venture outside to post hard copies of documents or provide wet signatures, enabling them to proceed with applications and identity verification from the safety of their homes.

Hub managing director, Simon Gray, said: “During the lockdown we wanted to better support our customers, many of whom are vulnerable and self-isolating at home, perhaps with no access to printers or family help accessing technology.

“Coronavirus has been a challenge, not only ensuring that our own colleagues are safe at home while still able to provide core services but also in terms of rethinking how we work with other companies in the market to generate quotes and process applications.”

Hub will work to complete customer applications by phone and use an email confirmation process, with customers able to review these documents instead of providing wet signatures.

Gray commented that a “worst-case scenario would have been different businesses trying to impose a raft of different requirements” and praised how the pensions industry had “worked together to find ways to overcome the problems for everyone’s mutual benefit”.

“This is a rapidly changing situation but we are actively listening to government guidance to track, anticipate and respond to events as they unfold,” he concluded.

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