 When IBM wanted to showcase its vendor partner solutions for life insurance companies, it needed a policy administration solution that could deliver proven world-class performance and scalability in a standards-based SOA environment.
Today, The Administrator from LIDP provides cornerstone processing at IBM’s lab in Gaithersburg, MD, in an environment that demonstrates straight-through processing in a service-oriented environment, using industry standards, against a backdrop of real-time insurance processing volumes that simulate those of the largest US carriers.
Affiliations
LOMA is an international association through which more than 1,250 insurance and financial services companies engage in research and educational activities to improve company operations.
Founded in 1924 by US and Canadian insurers, the LOMA Association has memberships which now include companies from over 60 countries worldwide. US members account for approximately 95% of the 15 trillion dollars worth of life insurance in force in the US today. LOMA improves company operations through quality employee development, research, information sharing, and related products and services. LOMA provides members with information in the following areas:
- Technology
- Insurance Operations
- Customer Service
- Human Resources
- Financial and Strategic Management
- Education and Employee Development; and
- International Operations and Best Practices
All of the LIDP consultants, software engineers, and support staff are required to follow the LOMA course of study to achieve FLMI (Fellowship Life Management Institute) designations.
 ACORD is a non-profit insurance association whose mission is to facilitate the development and use of standards for the insurance and related financial services industry. ACORD accomplishes this mission by remaining an objective, independent advocate for sharing information among diverse platforms.
ACORD is committed to providing standards and services that improve efficiency and expand market reach by reducing costs, reducing duplication of work and ambiguous communication exchanges, improving accuracy, facilitating e-Business, and supporting multiple distribution models.
 NAVA is a proven, highly-effective alliance of leading companies involved in the annuity and variable products industry. The NAVA mission is to promote the growth, acceptance and understanding of annuity and variable life products to retirement, to provide educational and informational resources to their members and to the public; to protect consumers by encouraging adherence to the highest ethical standards by insurers, distributors and all other participants in a diverse industry, and to advance the interests of their members.
 MIB Group, Inc., is an association of U.S. and Canadian life insurance companies. MIB is a leading provider of information and database management services to the financial services industry. Organized in 1902, the core fraud protection services of MIB have protected insurers, policyholders, and applicants from those who would attempt to conceal or omit information relevant to the sound and equitable underwriting of life, health, disability, and long term care insurance.
 DTCC Insurance Services provide an automated, centralized system that electronically links insurance carriers with broker/dealers and banks for the exchange of information and money settlement during the sale and support of variable and fixed-rate annuities and life insurance products.
The Administrator Clearing House interface gives clients the ability to communicate with their brokers through DTCC clearing subsidiary, National Securities Clearing Corporation (NSCC). Information relating to annuity applications, positions and valuations, commissions and financial activity reporting can be transmitted between brokers and insurance carriers without requiring multiple data links. The Clearing House interface standardizes the transmission of data, resulting in efficient settlement processing. Centralizing this information flow between brokers and insurance carriers leads to reduced costs and faster, more efficient service. Application and commission dollars settle through the NSCC settlement system.
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