Our staff provides claims, policy, financial and related data services and property and casualty statistical reporting consulting across the insurance spectrum. We understand the nuances of insurance databases, coverages, programs, and data; we have worked with a wide variety of computer systems related to claims, underwriting and accounting functions and we have experience in preparing and submitting statistical data to NCCI, ISO, NAII, and AAIS.
Bureau Statistical Reporting
Bureau statistical reporting is required for virtually all providers of insurance, whether a traditional carrier, captive, or self-insured fund. Complying with statutory requirements is important, but the real competitive advantage comes when insurers proactively use their data to identify changing trends and business opportunities. We understand this, and our consultants are able to advise insurers on the best ways to collect the “right data” in the most efficient way to:
- Reduce operational costs
- Enhance customer and agency experience
- Quickly meet the demands created by the ever-changing business and regulatory environments.
Computer System Support
We provide system support for insurance entities. Our areas of expertise include:
- Data conversion for companies that are replacing their computer platforms and data collection systems
- Advising on the design of front-end systems to enable the collection of data most useful in business analysis
- Reconciling data discrepancies
- Evaluation of underwriting/administrative and claims systems for functionality
- Data retrieval for executive or departmental reporting purposes
Database Development and Management
It is important that your data is accurate and you have the tools you need to answer strategic questions about your insurance operations. Our consultants create/maintain databases and perform data mining to serve your management reporting needs. We also help develop user requirements and systems specifications that allow insurers to collect specific data they can use to make strategic decisions. Our extensive experience in databases and data management includes software such as SAS, Microsoft SQL, Access, and Excel, and other data management software packages.
After you have ensured that you are collecting accurate and relevant data, what is next? How does the data mesh with your insurance product management? Strategic and actuarial analysis of your data answers the vital question, “What does this mean?” Our insurance experts provide a variety of services designed to help insurers manage and understand the vast amount of information that they collect. Some of the services we provide are:
- Performing actuarial ratemaking and reserve analyses
- Identifying trends and ensure the reasonableness of data
- Analyzing reinsurance, underwriting, and claims for management
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