Automate your Statutory Reporting Obligations with Sovos Insurance Statutory Reporting

Use Sovos and put your time back into your most important business goals

STATUTORY REPORTING SOFTWARE

Insurance statutory reporting is costing you big time

The time it takes to remain compliant with statutory reporting requirements adds up quickly. This is because the tasks involved are manual, time-consuming and complex. These tasks include:

  • Entering pages of data into required fields;
  • Maintaining and validating data for National Association of Insurance Commissioners (NAIC) filings and state compliance forms;
  • Tracking and meeting constantly changing deadlines;
  • Maintaining the complex financial statement notes process;
  • And cross-checking validations in a slow batch format.

What would it mean for your business if you could automate these tasks and focus your time elsewhere?

The benefits of automating insurance statutory reporting

Drive efficiency

Automate and centralize all of your disparate, manual statutory reporting processes into one easy-to-use solution.

Enhance customer experience

Create a more enjoyable experience for your team and your customers with an intuitive solution that seamlessly integrates with Excel.

Maintain compliance

Keep peace of mind knowing your solution is backed by expert regulatory analysts monitoring the regulatory environment around the clock.

Stay on track

Track all changes and due dates using a real-time calendar. This includes email alerts straight to your inbox when changes occur.

Minimize risk

Eliminate slow, manual, reactive processes that are at high risk for errors.

Reduce IT and compliance involvement

Automatically adapt to business and regulatory changes as they occur, rather than requiring the assistance of compliance or IT.

Bolster audit defense

Safeguard your business with complete and transparent audit trails.

Features that make Sovos insurance statutory reporting the industry leader

Annual and quarterly filing statements

Automatically generate NAIC-required annual and quarterly statutory financial statements.

Data flexibility

Import financial data straight from the general ledger through an API integration or Excel. This empowers your business to change and grow without IT or compliance restrictions.

Data validations

Validate annual and quarterly financial statements in real-time as the statements are being prepared.

Data connectivity

Seamlessly and securely connect with an endless number of internal systems. This allows for annual and quarterly statement data to be updated in real time.

Dynamic linking

Maximize efficiency and eliminate errors with real-time, dynamic links to state compliance forms.

Data accessibility

Easily work across multiple statements with multiple users and companies simultaneously.