ClaimConnect^™

ClaimConnect^™, a service offering of DTCC’s subsidiary The Depository Trust Company (DTC), will enable clients to bilaterally manage and settle claims seamlessly through a flexible, single-point of entry.¹

• Overview

  Designed with active input from expected users, ClaimConnect will enable DTC Participants to bilaterally manage and settle claims from a unique, front-end application, accessible via the secure MyDTCC Portal.

  ClaimConnect reduces risk and errors, expedites the claim closure process and provides much-needed operational efficiencies to a heavily manual process.

  
  
  

• How ClaimConnect Works

  Accessible from a new, web application or API, ClaimConnect is designed to be extremely flexible, customizable and applicable to future claim types. Through the affirm and auto-match processes, matching and closing a claim has never been easier.

  • E-mails to clients will trigger an alert to sign into the application to perform an action on a claim, including affirmations, a DK, approve a pending claim, or to view all claim statuses.
  • Once a claim is matched, a Security Payment Order (SPO) representing a cash movement is processed between both client accounts. The SPO is included in part of your end of day settlement total for use with your settlement credit balance.

  
  

• Who Can use ClaimConnect

  All full-service DTC Participants will be able to use the service. To be set up as a ClaimConnect user, Participants must notify DTC’s Account Administration department, through Relationship Management.

• Benefits

  Centralizing claim processing through ClaimConnect will enable clients to facilitate the entire lifecycle of a claim, from submission to closure.

  Benefits include:

  • Robust and intuitive dashboard: Access data in a single dashboard, designed using the latest web standards with interactive charts and graphs.
  • Direct connectivity automation via APIs: Submit, update, cancel and query claims utilizing machine-to-machine transaction processing.
  • Continuous validation and matching: Validate and match a transaction in near real-time, allowing users to get quicker resolution.
  • Systematic Security Payment Order (SPO) creation: Settle cash between parties and which rolls into your end of day settlement balance to close the claim.
  • Easily track and manage claim transactions: With “quick search” and “advanced” functions, users can pinpoint the exact data needed.
  • Approval capabilities: Ensures cash settlements are confirmed by a second-level approver.
  • Creation of a Client Profile: Provides company contact and escalation information.
  • Email Alerts: Notification of new claims submitted, DKs, and claims awaiting approval, as well as a weekly summary of open and unresolved activities.
  • Historical reporting: All claim activities transacted through the service are available via an exportable spreadsheet.
  • Monitoring risk of financial exposure: With all claim activities in one place, easily identify which claims are outstanding by counterparty, in order to help better evaluate risk profile.
  • In-application help: Detailed, context-sensitive training support is available within the application.

  
  

• For More Information

  To request additional information, please visit the Client Center.