DTCC created Insurance Profile to help the annuities marketplace meet greater demands for data transparency from their investors. It is the only service of its kind designed to facilitate the collection and dissemination of fiduciary-related data – a capability that can differentiate firms from competitors and drive investor satisfaction.
With Insurance Profile, carriers can submit and maintain standardized expense, fee and commission schedule data. DTCC then validates the data and stores it in the centralized Insurance Profile repository for easy retrieval by distributors. The service replaces cumbersome data-exchange processes that vary from firm to firm with a standardized and automated exchange. It streamlines everyday transactions and gives users the transparency they need to keep up in today’s market.
DTCC’s Insurance & Retirement Services collaborated with over 60 firms from across the insurance industry to develop a solution that addresses the unique back-office challenges of the annuities marketplace.
Insurance Profile is a service offering of DTCC’s National Securities Clearing Corporation (NSCC) subsidiary.