Insurance Information Exchange (IIEX)

DTCC’s Insurance Information Exchange is a new platform that transforms raw data into actionable insights using an API-enabled environment to consume insurance information.

OVERVIEW

DTCC’s sophisticated I&RS processing environment has evolved from more than 20 years of development, with an interconnected and layered suite of products and services. Over 500 firms exchange large amounts of data throughout the lifecycle of insurance products, making it difficult to determine critical business decisions or respond to today’s rapidly changing regulatory and reporting requirements. While effective and efficient, the sheer volume of over 14.5 million insurance policy records processed daily can be challenging for clients to pinpoint the information needed.

IIEX Coming Soon

DTCC’s Insurance Information Exchange (IIEX), a platform for the exchange of policy, producer, and product data, provides clients with an easy, flexible and secure data hub to support the sourcing and consumption of data. Access to in-force policy data in IIEX is readily available, on-demand, through a user interface, via DTCC Portal, as well as an API-enabled platform.

In future iterations, it is envisioned to eventually allow the exchange of information throughout any stage of the insurance processing cycle. Designed with active input from DTCC clients, IIEX allows clients to create analysis and intelligence around data quality.

IIEX is enhancing data quality, completeness, delivery and access – all while reducing redundancy and risk, transforming a traditionally chaotic process into an orderly one.

BENEFITS

Using the API-enabled platform, IIEX allows clients to centralize and exchange their data. Benefits include:

  • Centralized data hub provides a standardized alternative to the need for sending large, redundant batch files
  • Users can access easily consumable, purpose-driven and in force policy data files
  • Additional phases will expand on the data offering across policy, producer and product details and will expand the data sourcing and delivery capabilities using new technologies
  • Offers a solution for all insurance product types - annuities, life insurance and insurance-based retirement plans
  • Stay compliant, meeting industry data standards through reactive regulatory changes
  • Flexible, secure platform with API capabilities

HOW THE SERVICE WORKS

Accessible from a user interface, the DTCC Portal, with API search capabilities, IIEX will give users the flexibility to view and access in force policy data and achieve insights into data quality completeness scores that leverage business defined critical attributes, by product types.

How Insurance Profile Works

*IIEX’s User Interface will be accessible via the DTCC Web Portal and the IIEX APIs in the DTCC API Marketplace.

WHO CAN USE THE SERVICE

IIEX is available to all I&RS clients who are members of DTCC’s National Securities Clearing Corporation (NSCC).

For More Information

To request additional information, please click here.



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