DTCC Insurance & Retirement Services has launched a new analytic reporting service for insurance carriers and broker-dealers that sell annuities.
The Analytic Reporting Service for Annuities leverages data aggregated from DTCC’s daily processing of annuity transactions to support key decisions about sales, sales management, marketing and advertising and product offerings.
The system can show cash flows by product, carrier and broker-dealer; market shares; fastest-growing products; fastest-growing client types; and detailed trends by carrier, distributor, product, zip code and more.
“DTCC is at the heart of the insurance industry, connecting a growing community of over 400 firms, including insurance carriers, distributors that market insurance products and the technology vendors that offer services enabling companies to connect,” said Adam Bryan, managing director of insurance and retirement services at DTCC. “We process approximately 150 million annuity transactions each month, which means we have a tremendous amount of industry information and market intelligence in our own systems that can be used to help our customers grow their business.”
Scott Wagner, insurance business and data analyst, risk product management, at Waddell & Reed, commented: “The Analytic Reporting Service will provide us with a new view of the transactions we process through DTCC, and we see the great potential for it to turn those transactions into valuable information we can effectively use to better understand our business, trends and new opportunities.”