Attachments (ATT) enables insurance distributors and carriers to electronically exchange digital (imaged) documents, signatures, forms and other types of unstructured data during the pre-sale, new business and post-issue processing of annuity and life insurance information.
WHO CAN USE THE SERVICE
Attachments (ATT) is available to firms that are members of DTCC’s National Securities Clearing Corporation (NSCC). Click here for information on how to become a member of NSCC.
- Real-time response capability for providing attachment status.
- Support industry standard practice and standard formats adhering to the ACORD XML standard model for insurance processing using XML data messaging and web-services technology.
- 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.
- Eliminate the need for a paper exchange of information and enable straight-through processing (STP) when signatures are required at point of sale and/or original documentation is required for otherwise automated processes.
- Generate savings from reduced mailing costs and increased levels of service to distributors, carriers and customers throughexpedited document processing.
- Create an audit trail and eliminate lost paperwork.
HOW THE SERVICE WORKS
Using their proprietary or vendor supported platforms,distributors and carriers can electronically process attachments transactions as illustrated by the following:
- Firm (Sender) produces document internally and transforms document into an ACORD XML message.
- ACORD XML message is sent to DTCC including key data and attachment. DTCC validates key data and sends information to recipient.
- Recipient replies to DTCC with a status confirm. DTCC sends status confirm to Sender.
FOR MORE INFORMATION
Please contact Insurance & Retirement Services at 1.888.382.2721. Email us at email@example.com