DTCC Provides New Online Access Tool for Insurers

The Depository Trust & Clearing Corporation (DTCC) has introduced an online tool that enhances usage of Licensing & Appointments (LNA), one of the core automation solutions from its Insurance & Retirement Services business unit. LNA Access makes agent licensing and appointment information available at lower cost to insurance carriers and distributors that market insurance products.The LNA solution, launched in 2001, automates and standardizes the two-way flow of agent information between carriers and distributors related to state licensing and appointment requirements. LNA Access allows distributors to manage appointments from start to finish in one application directly online, removing the need for manual intervention by the carrier.”Distributors and carriers that use the fully integrated LNA system have reduced their operational costs and risks associated with manual practices (copy, fax, and phone), thanks to electronic, paper-free processing of producer requests, streamlined data exchange, same-day turnaround, and synchronized producer records,” says Lana Macumber, DTCC director, strategy and business development. “LNA Access expands the reach of this solution by bringing its benefits to distributors who may choose not to develop the fully integrated system.”