Protect the Earth
CHALLENGES 0F STATISTICAL REPORTING  

      Highly regulated Property and Casualty Insurance industry
•        Multiple regulating entities with multiple deadlines
•        New regulatory and accounting standards are in the works
(FIO). It will result in additional reporting burdens and
compliance challenges for insurers.
•        Labor intensive and costly:
•        Multiple systems: extensive data capture process;
•        Multiple steps of data clean up and standardization;
•        High costs of manual interventions;
•        Individual product specifications;
•        Employee turnover results in knowledge/experience attrition.
•        Endless investments in additional on-site hardware,
software and personnel.
•        Time and resource constraints (IT, Finance/accounting,
actuarial analysts):
•        Statistical reporting requires dedicated resources to pull the
data, code the data, validate the outputs, reconcile to annual
statements, correct any coding or balancing problems, and
deal with resubmissions.
•        Missed deadlines and penalties.
•        Business priorities – Statistical reporting is a non-core
process and may not be the highest priority for an insurance
company.
LEGAL:
STATISTICAL REPORTING
WE REDUCE COMPLIANCE COSTS
OUTSOURCE YOUR BUREAU REPORTING TO STATPORT
It is not a simple task for an insurance company to stay statistically compliant. There are quite a few
challenges to deal with. Overcome your challenges by outsourcing your reporting needs to us!
STATISTICAL REPORTING PROCESS AT STATPORT™

•   Assessment of company’s product offerings and the extend
of statistical reporting needs. Produce list of required reports
per  product /state requirement with due dates and delivery
time frames.
•  Analysis of company’s systems and data sources to
establish the most efficient and cost effective approach for
data gathering and  transmission.
•   Data coding and conversion of unprocessed transaction
data to correspond with a specific statistical plan.
•   Data editing to ensure reporting integrity
•   Data reconciliation to Insurers’ annual statements
•   Timely electronic submission to statistical agents and
regulatory entities.
•    Expedited resubmission (when needed) process
•    Systematic review of statistical requirements to ensure that
all changes are captured and implemented  in a timely
manner to avoid late submission or last minute fixes
(corrections)
•    Secure retention of all submitted and resubmitted files and
records.
WE CODE AND REPORT ON THE FOLLOWING PRODUCTS:
·        Personal Lines
·        Inland Marine
·        Personal Auto
·        Commercial Auto
·        General Liability
·        Fire & Allied Commercial
·        NC Quarterly Mobile Home and Auto

We provide reporting services to fit the layouts of ISO, NCCI, NISS, ISS , AAIS , SAA & TICO statistical plans.
We also offer our services for Market Conduct Annual Statements & Florida Hurricane Catastrophe Fund  
submissions as well as all of states' calls.
                                                    Copyright  ©  2011      STATPORT GROUP, LLC.       All rights reserved.                                                                                     
Call us at: 480-287-1840
Email us to learn more at info@statportgroup.com
Paradigms challenged
RELEVANT BUSINESS ANALYTICS.