(Image source: FIDx website.)
iPipeline (Exton, Pa.) and Fiduciary Exchange LLC (FIDx, Berwyn, Pa.) have launched IX Express, a digital annuity distribution solution designed to expand access for small and mid-market broker-dealers and financial institutions.
Pat O’Donnell, CEO, iPipeline.
The platform integrates iPipeline’s AFFIRM annuity technology with FIDx’s Insurance Exchange to provide a unified system for annuity processing. The companies say the solution is intended to reduce operational complexity and support digital adoption among firms with limited resources.
IX Express is designed to shorten implementation timelines by offering a standardized platform, reducing deployment periods from several months to a shorter timeframe, according to the companies. The solution also aims to reduce processing errors and streamline workflows across annuity transactions.
“iPipeline has long delivered a fully integrated, end-to-end annuity experience for the industry’s most sophisticated firms,” comments Pat O’Donnell, CEO, iPipeline. “With IX Express, we’re extending that same platform-based approach to the small to mid-market, removing the cost, complexity, and time constraints that have historically limited access to digital distribution. Building on our strong strategic relationship with FIDx is what makes this possible at scale, marking a significant step forward in our strategy to make seamless, scalable annuity solutions available to the entire market.”
Rich Romano, CEO, FIDx.
Reducing NIGO Submissions and Opening Distribution Channels
The companies say the platform may also support insurers by reducing not-in-good-order submissions and enabling access to additional distribution channels.
“For carriers, this brings digital distribution into segments they haven’t been able to reach,” says Rich Romano, CEO, Fiduciary Exchange LLC. “By removing the cost and complexity of platform connectivity, it makes offering annuities more accessible than ever before.”
The launch reflects increased demand for digital tools in annuity distribution as firms transition from paper-based processes to integrated digital workflows.