US investment and insurance company The Hartford Financial Services Group is teaming up with Birmingham, Alabama-based Protective Life Corporation to create a new platform that provides online life insurance quotes.

The Insurance Online Network (ION) will be available through broker-dealers and banks and is free to distributors of financial service products.

The ION system revolutionizes how life insurance is transacted in the financial services industry – it is a game-changing platform, said John Deremo, senior vice president of Protective Life Insurance Company’s life and annuity division. We have placed the power of choice in the hands of brokers – it is just a single click away.

The two companies said the ION will initially provide quotes on 10- and 20-year term life policies from Hartford Life and Annuity Insurance Company and 10-, 15-, 20- and 30-year term life policies from Protective, with the possibility of eventually offering quotes from participating carriers on other product offerings such as permanent life insurance.