Compliance reporting impacts your bottom line.

Staying on top of the increasing number of mandated reports to rating bureaus, state insurance departments, the NAIC and the federal government is time consuming, complicated and costly for property & casualty insurance carriers. Carriers are further challenged by their combination of legacy systems, modern systems, external data feeds and internal staffing attrition. The level of data quality is often inadequate and not normalized. This leads to rework, error corrections and potential fines for erroneous and/or late reporting. Our decades of compliance reporting experience, technical expertise and data management best practices ensure the accuracy and timeliness of your statistical reporting. We offer both functional and technical solutions through flexible services delivery models that consistently align with your business goals and objectives.

 

STATISTICAL REPORTING

Our insurance data services experts reformat transactional statistics to conform to bureau requirements and manage and track data calls and submissions. We routinely handle statistical report submissions to bureaus, annual statement reconciliations, state special data calls and statistical bureau alternative analyses.

Our approach is to: Reformat transactional statistics to conform to bureau requirements, edit and scrub data using bureau validation tools, ensure timely and accurate statistical submissions, and provide analyses to support the selection of a statistical agent

We provide comprehensive property & casualty compliance reporting services: ISO, ISS, NISS, and AAIS reporting, NCCI and independent workers compensation bureau reporting (WCPOLS/POC, WCSTAT, financial calls, DCI, and medical calls), special data reporting to DOIs and rating bureaus, NAIC market conduct annual statement (MCAS), and CMS medicare secondary payer reporting.

 

 

Comprehensive statistical reporting and data management solutions for every insurance organization

COMPREHENSIVE SOLUTION

We have developed a comprehensive technical product offering that allows us to integrate the data source(s) defined by you and load your premium and losses into our Perr&Knight Statistical Reporting Data Solution. In addition to greatly enhanced data aggregation, encoding and formatting benefits that lower your cost of regulatory reporting, we monitor the circulars and publications related to all mandated statistical plans. Quarterly release updates also ensure that your core systems are producing the data required for compliance.

DATA SERVICES

Our senior-level technical resources have extensive experience in data management and deep property & casualty insurance industry expertise. We can assist your organization with: Data requirements gathering & gap analysis, data migration & integration, data warehousing, and fee basis & consulting/support services

RESOURCES, NEWS & EVENTS

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Dean Ferdico and Jim Vallee Talk about Perr&Knight’s Services and Marketplace Developments

CCIA Insights Podcast: Actuarial consulting firm Perr & Knight provides end-to-end solutions for all types of insurance coverages. Leaders Dean Fe...

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Nevada Prohibits Adverse Action Resulting from COVID-19, Will Require Refunds for Affected Policyholders

Citizens of Nevada may be seeing a refund come their way this year after the Division of Insurance (DOI) approved regulation R087-20 on December 28, 2...

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