Extending the Benefits of LNA

The new LNA Access tool is designed to disseminate the benefits of the Licensing & Appointments (LNA) service more widely across the industry.

Users of the fully integrated LNA application have significantly reduced the operational costs and risks associated with traditional manual practices (copy, fax and phone), thanks to the electronic, paper-free processing of producer requests, same-day turnaround and synchronized producer records.

With expanding distribution channels for the sale of insurance products, the rising volume of new appointments of agents to represent those products, along with appointment renewals and agent information updates for each state and carrier, creates an information processing overload for distributors and their carriers.

Reflecting this growth, Insurance Services recorded a 10% increase in LNA volume in 2007 as DTCC processed more than 7 million LNA transactions, versus 6.4 million in 2006.
LNA Access will work as a standalone online data entry request and confirmation reporting tool, allowing distributors to enter requests to carriers for appointments and appointment terminations, producer terminations, address changes, representative ID number changes and license confirmations.

A key feature of the new application is LNA Import, whereby distribution customers will also have access to carrier transaction confirmations through an Excel-compatible file available and downloadable through the DTCC WebDirect platform. @