|
|
Article: TECHNOLOGY SOLUTIONS TAKING AIM; Focus on streamlined processing and suitability requirement to make VAs more palatable to advisers.(Special Report: Variable Annuities)
- Article from:
- Investment News
- Article date:
- February 25, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Davis D. Janowski
hile industry experts and broker-dealers are working to simplify variable annuity processing and cut down on paperwork electronically, software vendors are trying to help advisers easily compare products to comply with suitability requirements.
Last year, the Depository Trust and Clearing Corp. of New York electronically processed 300,000 of the nation's approximately 2 million annuity contracts, which means that more than three-quarters are still processed manually, said John Ziambras, managing director and general manager for insurance services at DTCC.
"We look at insurance processing as the last frontier, at least ...