REP can also be used with the ACATS/IPS (Automated Customer Account Transfer Service/Insurance Processing Service) process to correct agent information.
As an In-Force Transaction (IFT), this automated service facilitates changes of the representative of record (REP) within the managing firm requested by the distributor when the representative leaves the firm, retires or when business for a customer account is transitioned to another agent.
REP can also be used with the ACATS/IPS (Automated Customer Account Transfer Service/Insurance Processing Service) process to correct agent information.