Easily send and receive electronic exchange requests based on ACORD TXLife standards

Straight-Through Processing
Paperless Exchanges

The 1035 Exchange Solutions’ paperless exchange process follows the straight-through processing (STP) standards established by NAVA. The CT 1035 paperless exchange process not only helps eliminate the inefficiencies of paper and improve exchange turnaround time, it provides reliable records of all exchange transactions needed to demonstrate compliance.

• The CT 1035 Exchange System automatically populates both traditional hardcopy correspondence and paperless exchange requests using XML messages written to the DTCC and ACORD TXLife and Annuity Replacement Standards. These messages will be auto filled with policy and client information as well as ceding carrier processing location routing information.
• The CT Ceding Carrier Contact and Requirement Database contains NAIC and DTCC numbers that are essential to routing XML, TXLife messages. The database contains indicators that specify which ceding carriers’ processing locations accept XML messages, and which require traditional hard copy correspondence. Ceding carrier XML routing information is automatically loaded into the TX messages.
• The CT 1035 Disbursement Tracking and Conservation System receives XML messages and automatically feeds the data into a user friendly interface. The exchange specific workflow system sends both XML responses and generates paper correspondence.
• Behind the scenes, the 1035 Message Router Service formats, sends, and receives the XML messages. The router application interfaces with the CT 1035 Exchange and CT 1035 Disbursement Tracking and Conservation System and other carrier specific workflow systems.

Find out more about the STP paperless exchange process.