DTCC I&RS Replacement Processing service will enable insurance carriers to send annuity 1035 exchange, transfer or rollover information and distributors to receive pending case status information in a secure and standardized environment. This process will include functionality supporting attachment documentation and money settlement automation between insurance carriers.
Replacement Processing will use an automated, centralized system to electronically link and network insurance carriers and distributors as they exchange information to support a customer’s replacement request for ‘like- for-like’ fixed or variable annuities contracts.
Using a mainframe or secure Internet connection, insurance carriers will be able to transmit replacement request/notification and status information back and forth through the DTCC SMART Network. The New Business replacement carrier will be able to inform their distributor partners of their latest pending case status information.
DTCC I&RS Replacement Processing will help carriers communicate the customer request for a replacement transfer in a standardized, automated manner for greater efficiency and lower operational risks.
With Replacement automation, users can:
Please contact Insurance & Retirement Services at 1-888-382-2721, or email us at email@example.com.
Last updated June 01, 2010
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