Insurers are challenged with having to remember processes that are used only quarterly, and sometimes only once per year. When complex processes, like NAIC filings, are performed so infrequently, lack of familiarity often results in missteps and costly errors.
Sapiens StatementPro makes statement preparation faster and simpler by offering one-click navigation between statements, pages and form validations (cross-checks) to the pages they reference. Intuitive workflow and helpful wizards lead users effortlessly through each step, transforming the filing process and offering one-step filing.
Calculations and validation processes run automatically in the background every time a page is modified. The current status of validations is readily visible, and details are quickly displayed. Multiple pages and statements can be viewed, analyzed and updated simultaneously.
An intuitive design makes the platform easy to learn and use. The home page provides direct links to recently used statements and frequently-used tasks. Simple and clear onscreen instructions for each option and context-sensitive help provide users with assistance and regulatory guidance. The system can be deployed enterprise-wide, which is vital for geographically diverse organizations.
StatementPro uses Microsoft.NET technology for superior flexibility and processing efficiency. The platform can be deployed standalone, client/server or hosted (SaaS).
We support annual and quarterly filings for property & casualty; life, accident & health; health, title and fraternal companies. We also offer the NY modules, separate accounts, combined, merger/history, medical loss ratio (MLR) and state forms for P&C, LAH and health companies.
Sophisticated statement accumulation capabilities support internal divisional reporting and Schedule P pooling, including elimination support. Users can create analysis statements for investigating “what-if?” scenarios and feel safe that these statements will only be used for internal purposes. An extensive set of work papers helps with data entry on complex pages.