Magnifact Announces Pilot Integration with DTCC's Insurance Information Exchange (IIEX) Platform

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Oct 06, 2022, 07:00 ET

Collaboration links Magnifact's cloud-based insurance platform to DTCC's Insurance Information Exchange (IIEX); interface will extend the reach of Magnifact's AgentVizion™ solution

CHICAGO, Oct. 6, 2022 /PRNewswire/ -- Magnifact® announced today it has successfully completed pilot testing of the integration of its cloud-based insurance platform with the Insurance Information Exchange (IIEX), a service offered by The Depository Trust & Clearing Corporation (DTCC), to help carriers and their distributors gain automated access to their most current position information.

Magnifact's MagniFyle data transformation solution coupled with MagniBot, its Robotic Processing Automation (RPA) platform, will enable industry participants including insurance companies, financial institutions, and IMOs to exchange information seamlessly via DTCC's sophisticated IIEX APIs.

Financial institutions and marketing organizations will now be able to subscribe to scheduled file deliveries through a simple menu. Furthermore, this information can be optionally piped into Magnifact's AgentVizion™ solution and its companion AgentVizion2GO mobile app — a digital experience platform that offers agents, brokers, third-party administrators and insurers greater visibility into all aspects of life and annuity distribution.

"The integration to the DTCC ecosystem will further enrich the currency and quality of policy data," said Krish V. Krishnan, Founder and Chief Executive Officer of Magnifact. "Our vision is to leverage this information to deliver a 360-degree view of analytics for insurers and distributors alike through our game-changing solution."

About Magnifact, and its Insurance Platform

Magnifact is a leading provider of SaaS-based DataIntelligent℠ solutions for the insurance industry, with secure process standards backed by a SOC 2 Type II attestation. To learn more about Magnifact, visit Magnifact.com and the Magnifact Newsroom.

Magnifact's insurance platform includes AgentVizion, an award-winning, patented suite that allows insurance carriers, agencies and downline agents to accurately get a 360-degree view of their business across different distribution channels and product lines. The AgentVizion2GO mobile app enhances the agent experience by leveraging native features including push technology, in-app notifications, and location sensitivity.

The insurance platform also includes MagniFyle, a secure Data Transformation as a Service offering that works with MystiFi, Magnifact's data obfuscation utility, and MagniBot, an automation suite powered by world-class RPA (Robotic Process Automation) technology.

Media Contacts
Ivory Banks
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SOURCE Magnifact