保险结算处理^SM

保险结算处理^SM automates 和 centralizes the settlement of post-issue money/funding activities between carriers 和 distributors as well as between carriers, allowing for the optimal facilitation of insurance withdrawals, 全部或部分投降 和 m和atory required distributions.

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  保险结算处理^SM (STL) replaces slow 和 costly settlement processes with a streamlined, automated tool that brings unmatched value to clients 和 the insurance industry.

  客户端s of STL gain an edge with faster settlement of funds, fewer rejects 和 lower costs – directly contributing to an enhanced financial advisor 和 end-customer experience. STL提供以下功能:

  提款结算 和 保费结算:
  STL fully automates the movement of money in annuity withdrawals 和 the payment of life insurance premiums. It streamlines the settlement process between carriers 和 their customers’ brokerage accounts, reducing manual processes that previously involved the mailing of physical checks. 而不是, 与STL, funds withdrawn from annuities are issued directly back to the end-client’s brokerage account, enabling distributors to retain funds under their management. Supporting the processing of life insurance premiums, STL systematically transfers withdrawn funds from the brokerage account to the carrier.

  更换费用结算:
  STL brings 存’s robust carrier-to-distributor settlement capabilities to carrier-to-carrier replacement transactions (also known as 1035 Exchanges). This unique offering in the insurance marketplace connects insurance carriers, expediting the movement of monies between ceding (delivering) 和 receiving carriers upon surrender of an annuity contract in a completely st和ardized 和 automated environment.

  Market participants that do not take advantage of STL rely on manual processing for individually transferring insurance funds between carriers 和 between carriers 和 contra-side brokerage accounts. This manual process increases the risks of misrouted money 和 inefficiently applied resources via administration of paper checks 和 reliance on mail 和 wire services for delivery.

  With an expected exponential increase in withdrawals expected due to rising numbers of baby boomer retirees, t在这里 is an even greater need to employ faster 和 safer means of coordinating transactions via STL, 包括:

  • 人寿保费的变动
  • 更换结算
  • 系统的取款
  • 全部或部分投降
  • 强制分布

• 谁可以使用STL

  保险结算处理 is available to firms that are members of 存’s National Securities 清算 Corporation (NSCC). 点击 在这里 for information on how to become a member of NSCC.

• 好处

  • 节省时间和vns6060威尼斯城官网, bringing significant efficiencies by eliminating the costly, 手动发送流程, receiving 和 applying funds using physical 和 wired checks
  • Mitigates the potential for misrouted funds by giving members the means to connect in an automated 和 safeguarded environment through 存’s Securely Managed 和 Reliable Technology (SMART) network
  • Directs withdrawn annuity funds into brokerage accounts, allowing Financial Advisors to retain assets under management; provides new opportunities for Financial Advisors on reinvestment opportunities
  • Automates transfers between carriers; the fast movement of funds makes them available more quickly to fulfill distributor partners’ 和 customer requests
  • 提供更快的, more predictable process with same-day net settlement achieved through integration with National Securities 清算 Corporation’s (NSCC’s) Money 结算 Service
  • Applies a st和ardized record layout format, eliminating the need for proprietary feeds
  • 简化IT开发工作
  • Diminishes the number of end-client inquiries
  • Reduces research required for unidentified/lost check processing 和 其他拒绝

• STL是如何工作的

  STL leverages NSCC’s one-of-a-kind Money 结算 Service to report activity—including its Money 结算 Detail (MSD) data file 和 the net settlement obligation Money 结算 Summary (MSS) data file—to both parties of a transaction.

  

  保险结算处理^SM (STL) is offered through NSCC, a 存 subsidiary.

  
  

  Coming in 2024, STL will support paperless replacement processing. Sign up on the form at the end of the video below for more information.

  

• 了解更多信息

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