Positions & Valuations (POV) enables insurance carriers to send annuity and life insurance contract details to distributors on a daily, weekly, monthly, or other periodic basis, giving them a current snapshot of their entire book of business.

Overview

Positions & Valuations (POV) enables insurance carriers to send annuity and life insurance contract details to distributors on a daily, weekly, monthly, or other periodic basis, giving them a current snapshot of their entire book of business.

Who Can Use This Service

Insurance carriers, broker/dealers, banks, and insurance agencies affiliated with broker/dealers or banks are eligible for the service.  Participants must meet NSCC membership requirements, and special data-services-only memberships are available.

Benefits

With POV, you can:

• Assemble key contract information, including current values, service features, and parties to the contract
• Create complete client account portfolios by including current annuity and life insurance contract information that can be delivered to distributors' desktops and included in customer statements.
• Track assets so that distributors can confirm current-state account status and investment performance on all customer accounts.
• Obtain a summary of customers' holdings with any given carrier, allowing distributors to remain up to date on all annuity and life insurance business under their management, including when new annuity and life insurance assets are added or removed from their books.
• Identify unassigned accounts, enabling distributors to appoint an active agent to the account and engage the new agent to pursue additional investment opportunities.
• Comply with regulatory requirements, such as Anti-Money Laundering and "Know Your Customer" statutes, by giving distributors information on all assets under their management.
• Secure confidential data through DTCC's Securely Managed And Reliable Technology (SMART) network, which provides centralized, end-to-end managed communications for all post-trade clearance and settlement processing.

How the Service Works

Using a mainframe or Internet connection, insurance carriers electronically send information about underlying assets, accumulation units, and valuations to NSCC, which then routes the information to distributors.  Data are available in three formats:

• A focused refresh file (PFF), including underlying fund and current value information.  A PFF file includes the distributor's entire book of business and is typically sent on a daily basis.
• A full refresh file (PVF) that provides PFF data, as well as information pertaining to contract parties and service features.  A PVF file includes the distributor's entire book of business, transmitted periodically according to a schedule agreed upon by trading partners. 
• A new business file (PNF) that provides data identical to the PVF file but includes only new contract information.   A PNF file contains information on contracts that are newly issued or have a change of agent with a new broker-dealer affiliation.  The file is sent once each day; after that, the contract information is included in PFF or PVF files.

For More Information

For more information, please contact Insurance Services at 1-888-382-2721.  E-mail us at Insurance@dtcc.com.