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The Depository Trust & Clearing Corporation (DTCC) and Information Asset Partners (IAP) today announced the launch of a new IAP solution that will provide the insurance industry with a dynamic view of market and competitive positions for annuities.
Leveraging DTCC’s Analytic Reporting for Annuities and IAP’s retail market analytics, IAP’s new Annuity Market Assessment will give carriers, distributors and producers the ability to evaluate local market opportunity on a ZIP code basis to identify:
- where current production lags local market demand;
- opportunities to improve distribution and wholesaling performance and competitiveness;
- objective performance benchmarks and trends for marketing leadership.
“By integrating multiple analytic data sets, we can quickly deliver relevant intelligence to carriers and distributors, which can greatly impact their marketing performance,” said Dr. Raisa Suhir, Managing Director of IAP. “This joint solution creates a new level of value for the annuity industry. Annuity Market Assessment is available now to carriers and broker dealers, as well as to individual advisors and producers who want to improve their firm’s performance.” IAP’s website provides additional information about Annuity Market Assessment and IAP’s analytics: http://www.iapartners.com/empirics-annuity-market-assessment.html
According to Andrew Blumberg, DTCC Director, Insurance & Retirement Services, “Users of this new tool can more efficiently direct their resources toward finely targeted marketing, as well as being able to better measure the performance of producers and assess and improve product and pricing strategy.”
Combining Two Complementary Services
IAP’s retail market analytics measure current wealth and annuity buying behaviors, and DTCC’s Analytic Reporting for Annuities provides cash-flow statistics and actual market activity intelligence by ZIP code, giving users a clearer picture of annuity market dynamics for a particular area and what the potential is for new business.
IAP’s Annuity Market Assessment can be used across multiple functions, including wholesaling, marketing, market research, online targeting, pricing, and product development. The solution is delivered in Microsoft Excel format and is easily integrated with a carrier’s or a distributor’s current systems, as well as with databases operated by third-party providers.
