Misdirected or incomplete documentation can introduce operational risk and processing delays. This experience inhibits the
1035 exchange/transfer process from performing in a cost-effective, efficient manner. DTCC’s Insurance & Retirement
Services (I&RS) has developed an alternative method to exchange critical information without the need to share
documentation, called the Paperless Replacements Processing (RPL) service.
By leveraging industry message standards and DTCC automation, Paperless Replacements Processing (RPL) facilitates the
issuing carrier’s replacements instructions for a 1035 exchange/transfer (replacements) surrender request to the ceding carrier.
The ceding carrier will act upon the receipt of the electronic instructions to complete the client-initiated transfer instructions.
From request submission through surrender and settlement, I&RS serves as the trusted intermediary between carrier parties,
providing multiple levels of standardization and automation with the 1035 exchange/transfer streamlined process, and
reduces the completion timeframe.
