DTCC Connection

Jul 10, 2014 • DTCC Connection

DTCC Gives Clients a Complete View of their Annuities Business

by Robin Shapiro

Having regular access to the most robust and timely information about the business landscape is a competitive advantage in any field. For the annuities industry, geographic market information drives strategic decision-making related to marketing, sales, hiring and other business expenditures to fuel greater growth.

The Depository Trust & Clearing Corporation’s (DTCC) latest enhancement to its Analytic Reporting for Annuities service, Analytic Reporting Full Coverage, was introduced in June to provide clients an unprecedented view of their annuities business.

“The primary source of the data that forms Analytic Reporting comes from the transactions sent by insurance carriers to their distributor partners through I&RS’ Financial Activity Reporting (FAR) service,” said Andrew Blumberg, DTCC Group Director, I&RS. “Although FAR is considered the preferred and most efficient way to process transactions, not all insurance business is transacted via this mechanism.”

The Full Coverage enhancement now allows DTCC clients to see the entirety of their annuity and life insurance transaction data in the Analytic Reporting for Annuities service, not only the business they conduct through FAR but also including any other business they may conduct outside of FAR, at no additional cost. This allows a more comprehensive view of their business in one place via their online platform.

The information that is accessed from Analytic Reporting Full Coverage is available on-demand and may be shared throughout a client’s firm and with their business partners so that they may both benefit from the information.

“No other firm out there is able to provide this information this accurately, completely and quickly,” Blumberg said. “DTCC is the only company able to provide actual transaction-based data of this nature; other providers of insurance data rely on surveys which are not as detailed or objective.”

Analytic Reporting for Annuities (Analytic Reporting) is an online solution offered by DTCC’s Insurance & Retirement Services (I&RS) that provides information on the market for annuity markets by aggregating the billions of dollars in annuity transactions processed by DTCC’s National Securities Clearing Corporation (NSCC) subsidiary with  other transaction data submitted directly by clients to Analytic Reporting for inclusion. It provides cash flow data by carrier, distributor, product, product type, account type, state, metropolitan statistical area (MSA), city and zip code.

To view the types of information available in Analytic Reporting, view the most recent Annuity Market Activity Report.

 

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