1. Insurance Profile
Mission: To offer a comprehensive central source for managing and accessing fee, expense & commission disclosure data
What is Insurance Profile (IProfile)?
Provides a centralized, standardized repository to access fees, expenses and commission schedules information at the product CUSIP level.
Access to fee and expense reporting and timely updates to distribution partners
Greater accuracy and confidence in the data validation process
Offers two methods of accessibility User Interface via I&RS Access platform and batch download.
Benefits of a central source
Drive greater transparency into annuity expenses, both direct and indirect, and commission schedules.
Offer a streamlined data process with robust data validation, increased data conformity and accuracy based on a defined, standardized data dictionary
Eliminate support and maintenance associated with proprietary feeds or product databases.
Reduction of costs, risks and errors associated with manual processing; improved efficiency.
Simplified web access for data validation.
Offer timely updates to distribution partners upon fee changes.
Track grandfathered annuity contracts and transactions for suitability review.
Why DTCC & Insurance Profile?
With 40 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry.
From operating facilities and data centers around the world DTCC, through its subsidiaries, automates, centralizes, and standardizes the post-trade processing of financial transactions and mitigates risk for thousands of institutions worldwide.
DTCC partners with clients to create efficiencies that reduce industry and organizational costs through huge economies of scale.
I&RS through DTCC’s subsidiary of NSCC, provides processes to mainstream insurance and annuity processing by controlling costs, creating efficiencies, and provides framework for information (data) exchange.
Who will source and access data?
Insurance Carriers
Distributors
IBDs
BGAs
IMOs
Solution Providers
Next Steps for the Industry
Create priority list with clients.
Determine business and technical requirements.
Identify interested parties
Create business case and determine industry readiness.
Fees
Expenses
Commissions
IProfile

2. Insurance Profile Implementation Roadmap
April 10, 2017
Support, Process, and Transmit Fee & Expense Disclosure Transmittal Message
Support, Process and Transmit Commission Schedule Transmittal File
Development of Insurance Profile, a centralized repository to access fees, expenses and commission schedules information at the product CUSIP level.
Modifications to existing I&RS services (POV, CUSIP Profile, FAR, etc.)
Prior to January 1, 2018
Support Request/Response web service call for fee, expense and commission data at the specific contract level for subsequent premiums.
Support Request/Response web service call for fee, expense and commission data at the product CUSIP level.
Grow Insurance Profile User Community
Post 1/1/18
Enhance Values Inquiry (VI) web service call to support transaction level fee, expense information
Additional Insurance Profile enhancements as deemed necessary by the industry.