Hexure Integrates with DTCC’s Producer Authorization, Providing Real-Time Can-Sell Check within FireLight

Business Wire

DALLAS--(BUSINESS WIRE)--
Hexure, a provider of sales and regulatory automation solutions for the life and annuity industry, today announced the integration of its FireLight offering with The Depository Trust & Clearing Corporation (DTCC) Insurance & Retirement Services (I&RS) Producer Authorization (PAR) service. By integrating Hexure’s FireLight with DTCC’s PAR, firms benefit from the standardized delivery of can-sell API messaging directly within FireLight, enabling real-time and efficient verification of producers' credentials and providing authorization to sell insurance products.

To ensure compliance and efficiency for distributors and carriers, users must validate an advisor’s credentials and authorization to sell a specific product in a particular jurisdiction in real-time. Hexure’s FireLight allows distributors to take advantage of a standardized process within one comprehensive end-to-end digital solution across various carriers through a single data source, thereby simplifying processes and eliminating the need for multiple licensing and appointment check systems. DTCC’s PAR service provides API messaging capabilities that create an immediate response using reason codes within FireLight. By automating the can-sell check process with DTCC’s PAR, firms can confirm if an advisor meets licensing, appointment, registrations and training requirements at the point of sale. This allows clients to improve in-good-order application submissions, while increasing operational efficiencies and enhancing the overall client and advisor experience.

“Being the first order entry partner to integrate our platform with DTCC’s PAR reflects our dedication to helping solve industry challenges with not-in-good-order (NIGO) submissions and enabling more efficient sales,” said Kevin Pohmer, President of Hexure. “We’re excited to release this enhancement to automate the can-sell check process within FireLight, providing our distributor clients with added functionality and making it faster and easier for advisors to conduct business. This integration, available to all our clients with DTCC’s PAR set up, ensures they only receive applications from advisors eligible to sell, reducing costs and inefficiencies related to NIGOs.”

Implementing these rules allows advisors to proceed, enforce soft stops with in-time appointment capabilities and corrective actions, and hard stops based on the advisor's authorization and credential status.

"We are pleased to have worked with Hexure to integrate their FireLight platform with DTCC’s Producer Authorization (PAR) solution. In doing so, we’ve been able to significantly advance compliance and efficiency across distributors and carriers. By automating the can-sell check process at the point of sale, we enable firms to confirm if an advisor meets the proper requirements in real-time. This not only improves in-good-order application submissions but enhances operational efficiencies and the overall client and advisor experience,” said Justin Schwartz, Executive Director of Product Management for DTCC’s Wealth Management Services.

Mr. Pohmer added, “We’re pleased to have worked with DTCC and several of our carrier partners to test and implement this integrated offering. The collaboration has been key to bringing this enhancement and this industry standardization to life.”

About DTCC

With over 50 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 20 locations around the world, DTCC, through its subsidiaries, automates, centralizes, and standardizes the processing of financial transactions, mitigating risk, increasing transparency, enhancing performance and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm innovates purposefully, simplifying the complexities of clearing, settlement, asset servicing, transaction processing, trade reporting and data services across asset classes, bringing enhanced resilience and soundness to existing financial markets while advancing the digital asset ecosystem. In 2023, DTCC’s subsidiaries processed securities transactions valued at U.S. $3 quadrillion and its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories valued at U.S. $85 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes more than 20 billion messages annually. To learn more, please visit us at www.dtcc.com.

About Hexure

Founded in 1995, Hexure provides digital sales solutions to the insurance, financial services and wealth management industries across various lines of life insurance, annuities, retirement, and wealth management products. Carriers and distributors use its solutions to build customer-centric sales experiences, accelerate submissions, reduce paper processes, meet regulatory requirements, and improve in-good-order sales. For more information visit hexure.com.