Financial & Compliance

Sapiens StatementPro

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.

Click here to view a listing of our Financial and Compliance webinars or view our Financial and Compliance training

Our Solution

Sapiens StatementPro (formerly StoneRiver eFreedom) 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.

Business Benefits

  • Efficient multi-tasking, via jobs that run in the background
  • Calculations and validations run automatically and seamlessly, providing always-current views of statement pages and validation results
  • Feature-rich system provides all the tools for addressing every filing challenge, updated and improved continuously based on user feedback, preventing system stagnation
  • Vertical and horizontal tabs offer intuitive navigation and instant access, by pointing-and-clicking between statements, companies and filing periods for quick and efficient entry completion. Statements, pages and validations can be opened in separate windows and support multiple monitors
  • Quick and efficient filing and ease-of-use lower total cost of ownership
<< Back to solutions

Contact Sapiens for more information