RM Corner

The I&RS Relationship Management team is constantly reaching out to our core constituencies to remain abreast of what’s happening in the industry and to get feedback from the frontlines. As part of this, we work with our Senior Advisory Board (SAB) which comprises our top 25 participants, both carriers and distributors.

We work with the SAB to help direct our strategy over the next three to seven years because we want to ensure that our services reflect the evolution in the insurance industry. As part of these conversations, we’ve learned that large distributors are still in a state of recovery from the economic downturn and are primarily focused on shoring up their businesses.

In addition, some firms are focused on ongoing consolidation and integration efforts that will absorb resources over the next few years. During this period, we are working closely with our distributors to help support them through this transition, from a strategic and tactical standpoint.

With the changes occurring in the insurance industry, DTCC is working closely with small to mid-sized firms who still have sophisticated needs but may lack the resources to address these needs on their own. In addition, financial regulation will have an impact on the insurance industry and many of the smaller firms need to develop compliant infrastructures without cannibalizing internal resources. Despite market turmoil, the insurance industry continues to see stability in volume and demand. However, insurance firms still rely on very manual, paper-based processes which can hinder firms’ ability to grow and scale. We are working with firms to provide them with access to solutions which address many of their current resourcing and processing needs, and free up their time and budgets to focus on the business at hand.

As part of these efforts, DTCC has launched the Access platform which allows our clients to get up and running quickly on services such as Inforce Transactions, License and Appointments and Attachments with very minimal effort.

We’ve had incredibly positive response from our distributors, both large and small, and our new services have all been designed to help firms grow, become more efficient, and reduce the manual processes which are costly and resource-intensive. We appreciate the input we receive from our carriers and distributors because it is only through participation and contribution that we can provide services that are relevant and cutting-edge.

Jamie Taylor, Relationship Manager