Using an internet connection, participating distributors can send
and receive changes through NSCC. There are multiple ways a
transaction can be submitted for processing to DTCC (web service,
mainframe batch or via DTCC Web Portal).
The IFW Service functionality routes messages between
distributors and insurance carriers using XML technologies to
request and receive real time requests to support multiple post
The IFW Services are comprised of the following key post-issue
- Arrangements (ACORD 107 message) is a one-time change to
a service feature on an insurance contract. Arrangements can
consist of the following programs such as Systematic
Withdrawals, Dollar Cost Averaging, Automatic Payments, Asset
- Death Notification (ACORD 810 message) provides the
insurance carrier with a notification that a death has occurred
to one or more parties to the in force/active policy or contract.
- Financial Withdrawals (ACORD 105 message) is a one-time
full or partial redemption of funds from an insurance contract.
- Fund Transfer (ACORD 102 message) is a direct exchange or
on-time reallocation of the underlying funds within a variable
insurance asset. This request includes modifications to the
service features affected by the exchange.
- Policy Administration (ACORD 113 message) provides a defined
set of changes to an in force/active policy or contract. This
message supports both party and communication changes.
In addition, several of the above messages begin with one of the
following inquiry messages:
- Values Inquiry (ACORD 212 message) is used to return
various policy values for a specific in force/active policy or
contract. The Values Inquiry transaction begins the
Financial Withdrawals, Fund Transfers, and Arrangements
- Policy Administrative Inquiry (ACORD 115 message) is used to
obtain the policy information needed specifically to perform
basic policy administration activities. This message allows the
distributor or vendor platform to gather necessary information
about an in force/active policy to determine the administrative
changes that are allowed. The Policy Administrative Inquiry
transaction begins a Policy Administration transaction message.