DTCC’s Insurance & Retirement Services (I&RS) celebrated in October 2012 its 15th year of creating and providing processing and compliance-driven solutions for insurance carriers and their distribution partners.
“This represents a milestone for us at DTCC,” said Adam Bryan, DTCC Managing Director, I&RS. “We launched our first product – Commissions – in 1997 with the help of Edward Jones, Raymond James, Lincoln Life and Hartford Life. Today we offer a complete suite of standardized messaging services, covering both pre- and post-issue transactions for a host of insurance carriers and broker/dealers. We’ve expanded our reach from solely covering the annuities space to life insurance and other retirement products.
“We could not have experienced this growth without the help of our many customers who provided us with important input and feedback,” said Bryan. “This enabled us to introduce enhancements to existing products and develop new ones to meet the evolving needs of the industry.”
Today, I&RS offers more than 20 products and services ranging from Analytic Reporting for Annuities to Licensing & Appointments and Financial Activity Reporting. In 2011, I&RS processed more than 10 billion transactions through National Securities Clearing Corporation, a DTCC subsidiary, and over 3.5 billion transactions in the first half of 2012.
I&RS now provides services to more than 250 broker/dealers, 200 insurance carriers and 30 other solution providers.@