• Insurance and Retirement Services (I&RS) introduced a new functionality in 2013 called Settlement Processing for Withdrawals and Premiums (STL), which gives broker/dealers a far more efficient and accurate way to transfer funds from existing insurance assets directly into their brokerage accounts. STL automates the highly inefficient manual procedure firms have long used for this process, which requires them to cut and issue checks to clients for partial withdrawals, full surrenders, mandatory distributions and other transactions. In its first year alone, more than 90,000 transactions representing over $500 million have been processed through STL.
  • I&RS delivered a series of enhancements during 2013 to Analytic Reporting for Annuities – its dynamic data service that delivers a unique view of the market for annuity products by aggregating information from billions of dollars in annuity transaction data held by DTCC. The new capabilities now allow for cash flow analysis down to the zip code level by product, account type, carrier and broker/dealer, delivering greater market transparency. In addition, I&RS launched a new intuitive interface, along with a new ability to include data not processed through DTCC, in order to build more comprehensive data sets for the insurance industry.
  • I&RS extended its menu of services to a larger segment of the insurance industry in order to bring greater efficiency and cost savings to mid-sized and smaller firms. This expansion included promotion of its stand-alone "Access" platforms and targeted enhancements to traditional services, such as Licensing and Appointments and In-Force Transactions.


DTCC is helping the insurance industry solve one of its more significant challenges – managing producer/insurance agent training and certification processes. The launch of the Producer Management Portal (PMP) gives insurance firms a secure central repository to track, share and verify producer training progress records. It also helped firms in 2013 comply with state-by-state regulations by assisting in quickly verifying that producers are qualified to sell insurance products. In addition, the service improves transparency, maintaining complete training records even when producers move among distributors within the industry.


DTCC is working in partnership with the insurance industry to transform I&RS services to deliver more effective, accessible, state-of-the-art technologies. The goal is to offer clients a secure warehouse of stored industry data within a multi-sourced, centrally accessible platform. Enhancements to the PMP and Analytic Reporting services in 2013 reflect this new direction – with the ultimate goal of reducing cost and enhancing access to data by delivering I&RS solutions through a central repository.