Every business day, a variable block has to turn fund prices into unit values, send trades to fund companies through NSCC, settle them, and prove the numbers tie out before accounting closes. Zinnia Fund Management runs that cycle in one place. Your team can operate it on UV Cloud, or Zinnia can run it for you.
A break at one step shows up at every step after it.
A late price, a unit value outside tolerance, a trade that doesn’t match the fund company’s record, a fee posted to the wrong subaccount. By the next morning it’s in policyholder values and the ledger. The answer is a cycle where each step checks the one before it, so a break can be caught where it starts.
Securities execution and settlement happen at the fund companies and through market infrastructure. Fund Management handles the pricing, instructions, tracking, and reconciliation around them.
Fund companies deliver daily NAVs and fund data, which opens the cycle.
Fund Management converts each NAV into a unit value for the subaccount and assesses fees against separate-account positions.
Policy activity from the administration system is aggregated into fund-level trades, sent through NSCC, and tracked to settlement.
Prices, unit values, and shares are checked against tolerances every day. Exceptions show where the break started.
Reconciled values feed the carrier’s ledger and its STAT and GAAP reporting.
Run it yourself, or have Zinnia run it. Both models run on the same platform and produce the same reports.
TECHNOLOGY
Your team runs the daily cycle on Zinnia’s platform. Zinnia hosts and maintains UV Cloud and shares testing when the system changes.
MANAGED SERVICE
Zinnia runs the daily cycle on UV Cloud for you, under your oversight and the operating controls you agree to. Zinnia manages the fund company relationships, does the testing and balancing, and handles fund events such as mergers and liquidations.
Few platforms are built for this work, so the evaluation usually comes down to five questions.
Investment accounting platforms built for the general account handle bonds, loans, and statutory accounting well. Separate accounts need something else: unit values, subaccount-level fees, and daily trading with fund companies. Ask whether those sit at the core of the platform or were added later.
Price receipt, unit values, fees, trades, settlement, reconciliation, and reporting. Every handoff between systems is a place where a break can hide.
Look at the tolerance checks, the exception queue, and the audit trail. The real test is whether an analyst can trace a bad unit value back to the price or trade behind it the same morning.
The cycle starts with policy activity from administration and ends with trades through NSCC and DTCC. Ask which admin platforms already have working interfaces, and how new funds get set up and tested.
Some carriers want their own team on the cycle. Others want the overnight work off their staff. A platform that supports both lets you change the operating model without changing systems.
Separate-account processing depends on the policy and product data held in administration. When a variable block moves to a new admin system, the fund data, trading, accounting, and reconciliation have to move with it.
Connect policy administration to the daily separate-account cycle through supported integrations.
Bring fund data, accounting, trading, and reconciliation into the plan when a variable block or admin system moves.
Fund operations is the daily work behind a variable annuity or variable life block. It covers taking in fund prices, calculating a unit value for each subaccount, assessing fees, trading with fund companies through NSCC, reconciling positions, and feeding accounting and reporting. It runs every business day and has to close before the next one starts.
A separate account holds the assets behind variable annuity and variable life policies apart from the insurer’s general account. Policy values move with the subaccounts the policyholder chooses, so every subaccount needs a new unit value each business day.
It depends on how much of the daily cycle your team wants to own. Running it in-house keeps control with your staff, along with the overnight processing, testing, and fund company coordination. A managed service moves that work to a provider while the carrier keeps oversight. Zinnia offers both on one platform: UV Cloud when your team runs the cycle, and Fund Management Services when Zinnia does.
Yes. With Fund Management Services, Zinnia runs the daily cycle on UV Cloud under your oversight and agreed controls. That includes fund company relationships, testing, balancing, and fund events like mergers and liquidations.
Policy activity such as premiums, transfers, and withdrawals comes from the administration system and becomes fund trades. Unit values go back to administration to value each policy. Fund Management has interfaces with 40+ administration platforms.
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Start with how much of the cycle you want to own. Bring your fund lineup, product count, and admin platforms. We’ll walk through how the daily cycle would run on UV Cloud or as a managed service.
