Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

DTCC Starts Testing Life Communication System

Your article was successfully shared with the contacts you provided.

The Depository Trust and Clearing Corp. is setting up the InsurExpress system, an electronic communication system that could help with the processing of life insurance policy applications.[@@]

DTCC, New York, says it began working with several insurance technology firms and at least one big insurer, Genworth Financial Inc., Richmond, Va., to test the system in June.

The InsurExpress system, based in part on electronic communications systems already offered by DTCC, includes a price quotation system, an electronic policy submission system, a call center that will help applicants supply the necessary underwriting information, a service that will guide the policy through the underwriting process, and a status reporting service.

DTCC hopes to add licensing validation services as well as premiums and commissions settlement services, the company says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.