Case Study on Morgan Stanley And Its Core Carriers

Morgan Stanley saw an opportunity to automate the processing of information involved in licensing and appointments of representatives to sell insurance products in individual states. A reengineering analysis by IBM identified savings that could be produced by implementing the Licensing & Appointments (LNA) solution from DTCC Insurance Retirement Services. DTCC (Depository Trust & Clearing Corporation) partners with the insurance industry to reduce the costs and risk associated with manual operations by automating processes and providing a core connection for carriers, distributors and other trading partners.

Developing the Strategy: Morgan Stanley determined that a full LNA implementation would expand new appointments automation beyond the initial five carriers to all of Morgan Stanley’s core carriers, as well as automate appointment renewals with all the core carriers. printing, faxing and follow-up should be eliminated. While phase three is expected to generate the greatest ROI, savings and efficiencies were already apparent after the completion of phase two. The manual processing for just the three carriers in the first two phases of LNA implementation originally required the efforts of five full–time employees. With LNA automation, that staff commitment was reduced to one full–time employee (FTE)…
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