{"id":50,"date":"2026-10-20T11:13:22","date_gmt":"2026-10-20T11:13:22","guid":{"rendered":"https:\/\/sovos.com\/taxapedia\/?page_id=50"},"modified":"2026-10-20T11:36:53","modified_gmt":"2026-10-20T11:36:53","slug":"statutory-reporting-insurance","status":"publish","type":"page","link":"https:\/\/sovos.com\/taxapedia\/solutions\/statutory-reporting-insurance\/","title":{"rendered":"NAIC Statutory Reporting Software for Insurers"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"50\" class=\"elementor elementor-50\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a1b77fd e-con e-atomic-element e-flexbox-base e-default-div e-a1b77fd-39d1255 \" data-id=\"a1b77fd\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"a1b77fd\" data-e-type=\"e-flexbox\" data-id=\"a1b77fd\">\n    \t\t<div class=\"elementor-element elementor-element-30c3f84 elementor-widget elementor-widget-auto_breadcrumbs\" data-id=\"30c3f84\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"auto_breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<nav class=\"aub-breadcrumbs\" aria-label=\"Breadcrumb\"><ol class=\"aub-list\"><li class=\"aub-item\"><a class=\"aub-link\" href=\"https:\/\/sovos.com\/taxapedia\/\">Home<\/a><span class=\"aub-sep\" aria-hidden=\"true\">\/<\/span><\/li><li class=\"aub-item\"><a class=\"aub-link\" href=\"https:\/\/sovos.com\/taxapedia\/wp-json\/\">Wp Json<\/a><span class=\"aub-sep\" aria-hidden=\"true\">\/<\/span><\/li><li class=\"aub-item\"><a class=\"aub-link\" href=\"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/\">Wp<\/a><span class=\"aub-sep\" aria-hidden=\"true\">\/<\/span><\/li><li class=\"aub-item\"><a class=\"aub-link\" href=\"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/\">V2<\/a><span class=\"aub-sep\" aria-hidden=\"true\">\/<\/span><\/li><li class=\"aub-item\"><a class=\"aub-link\" href=\"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/pages\/\">Pages<\/a><span class=\"aub-sep\" aria-hidden=\"true\">\/<\/span><\/li><li class=\"aub-item aub-current\"><span class=\"aub-text\" aria-current=\"page\">50<\/span><\/li><\/ol><\/nav><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"BreadcrumbList\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/sovos.com\/taxapedia\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Wp Json\",\"item\":\"https:\/\/sovos.com\/taxapedia\/wp-json\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Wp\",\"item\":\"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"V2\",\"item\":\"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"Pages\",\"item\":\"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/pages\/\"},{\"@type\":\"ListItem\",\"position\":6,\"name\":\"50\",\"item\":\"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/pages\/50\/\"}]}<\/script>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-b6d9ffc e-con e-atomic-element e-flexbox-base e-default-div e-b6d9ffc-b25138f \" data-id=\"b6d9ffc\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"b6d9ffc\" data-e-type=\"e-flexbox\" data-id=\"b6d9ffc\">\n    <div class=\"elementor-element elementor-element-7bae263 e-con e-atomic-element e-flexbox-base e-default-div e-7bae263-4242429 \" data-id=\"7bae263\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"7bae263\" data-e-type=\"e-flexbox\" data-id=\"7bae263\">\n    \t\t<div class=\"elementor-element elementor-element-e600070 elementor-widget elementor-widget-heading\" data-id=\"e600070\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">How do insurers prepare NAIC annual and quarterly statutory statements?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fd8372 elementor-widget__width-initial elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"7fd8372\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>US insurers must file statutory financial statements with the National Association of Insurance Commissioners and with each state where they are licensed, quarterly and annually, under statutory accounting principles rather than GAAP. Sovos Statutory Reporting automates statement preparation, cross-checking and submission, alongside <a href=\"\/taxapedia\/solutions\/vat-determination\/\">insurance premium tax filing<\/a> and the Booke by Sovos education program.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1461ec3 e-con-full e-flex e-con e-parent\" data-id=\"1461ec3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-c87a526 e-con-full e-flex e-con e-child\" data-id=\"c87a526\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-13c830d elementor-widget elementor-widget-image\" data-id=\"13c830d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"64\" height=\"64\" src=\"https:\/\/sovos.com\/taxapedia\/wp-content\/uploads\/2026\/10\/6d8c1a9b-f56d-42b0-aae7-d2279ac342fc.png\" class=\"attachment-large size-large wp-image-208\" alt=\"6d8c1a9b-f56d-42b0-aae7-d2279ac342fc\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3881978 e-con-full e-flex e-con e-child\" data-id=\"3881978\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9170e69 elementor-widget elementor-widget-text-editor\" data-id=\"9170e69\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tPublished By<br>\n<strong>Sovos<\/strong>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9cf71af e-con-full e-flex e-con e-child\" data-id=\"9cf71af\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-79a6900 elementor-widget elementor-widget-image\" data-id=\"79a6900\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"64\" height=\"64\" src=\"https:\/\/sovos.com\/taxapedia\/wp-content\/uploads\/2026\/10\/6d8c1a9b-f56d-42b0-aae7-d2279ac342fc.png\" class=\"attachment-large size-large wp-image-208\" alt=\"6d8c1a9b-f56d-42b0-aae7-d2279ac342fc\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5f18227 e-con-full e-flex e-con e-child\" data-id=\"5f18227\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e53ac6e elementor-widget elementor-widget-text-editor\" data-id=\"e53ac6e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tAs of\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b97df40 elementor-widget elementor-widget-text-editor\" data-id=\"b97df40\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tOctober 20, 2026\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-656510b e-con-full e-flex e-con e-child\" data-id=\"656510b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a4465a8 elementor-widget elementor-widget-image\" data-id=\"a4465a8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"64\" height=\"64\" src=\"https:\/\/sovos.com\/taxapedia\/wp-content\/uploads\/2026\/10\/72f4c884-23ff-4bd8-8813-2b02eb15e4a5.png\" class=\"attachment-full size-full wp-image-207\" alt=\"72f4c884-23ff-4bd8-8813-2b02eb15e4a5\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-53f22a3 e-con-full e-flex e-con e-child\" data-id=\"53f22a3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7107b2f elementor-widget elementor-widget-text-editor\" data-id=\"7107b2f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tAuthor\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9f74fc6 elementor-widget elementor-widget-text-editor\" data-id=\"9f74fc6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tMichael Parker\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b3fc80f elementor-widget elementor-widget-text-editor\" data-id=\"b3fc80f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tDirector Brand and Communications, Sovos\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-6900cac e-con e-atomic-element e-flexbox-base e-default-div e-6900cac-a1f599e \" data-id=\"6900cac\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"6900cac\" data-e-type=\"e-flexbox\" data-id=\"6900cac\">\n    \t\t\t<img decoding=\"async\" class=\"e-image-base e-default-img \" data-interaction-id=\"361dce5\" data-e-type=\"widget\" data-id=\"361dce5\" src=\"https:\/\/sovos.com\/wp-content\/uploads\/2026\/06\/Lines-Social-Responsibility-Hero-Graphic.svg\" alt=\"\"\/>\t\t\n<\/div>\n\n<\/div>\n<div class=\"elementor-element elementor-element-2d021ec e-con e-atomic-element e-flexbox-base e-default-div e-2d021ec-ccc7670 \" data-id=\"2d021ec\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"2d021ec\" data-e-type=\"e-flexbox\" data-id=\"2d021ec\">\n    <div class=\"elementor-element elementor-element-72e1c48 e-con e-atomic-element e-flexbox-base e-default-div e-72e1c48-19e8d8d \" data-id=\"72e1c48\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"72e1c48\" data-e-type=\"e-flexbox\" data-id=\"72e1c48\">\n    \t\t<div class=\"elementor-element elementor-element-2aa45eb elementor-widget elementor-widget-html\" data-id=\"2aa45eb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<style>\n.rounded-table {\n    \/* To make rounded corners work, we need to separate the borders *\/\n    border-collapse: separate; \n    border-spacing: 0;\n    width: 100%;\n    font-family: 'Montserrat', 'Inter', sans-serif;\n    \n    \/* Apply border and radius to the table itself *\/\n    border: 1px solid #ddd;\n    border-radius: 8px; \/* Adjust this value for more or less rounding *\/\n    \n    \/* This is crucial: it clips the children (cells) to the table's rounded corners *\/\n    overflow: hidden; \n    margin-left: 0px;\n}\n\n.rounded-table thead th {\n    background-color: #072448;\n    padding: 12px;\n    text-align: left;\n    font-weight: 600;\n    color: #ffffff;\n    font-size: 20px;\n    font-family: 'Montserrat', 'sans-serif';\n}\n\n.rounded-table tbody td {\n    padding: 12px;\n    border-top: 1px solid #ddd; \/* Only use top borders for rows *\/\n    font-size: 16px;\n    font-family: 'Inter', 'sans-serif';\n    color: #545e75;\n}\n\n.rounded-table tbody tr:hover {\n    background-color: #fafafa;\n}\n\n.rounded-table .file-name {\n \n    font-weight: 600;\n    color: #;\n}\n.bg-row{\n    background-color: #f2f2f2;\n}\n}\n\n<\/style>\n<table class=\"rounded-table\">\n    <thead>\n        <tr>\n            <th scope=\"col\">Best suited for<\/th>\n            <th scope=\"col\">US property and casualty, life, health and fraternal insurers filing statutory statements with the NAIC and state insurance departments<\/th>\n        <\/tr>\n    <\/thead>\n    <tbody>\n        <tr>\n            <td class=\"file-name\">Filings covered<\/td>\n            <td>NAIC annual and quarterly statements, state-specific compliance forms, and <a href=\"\/taxapedia\/solutions\/vat-determination\/\">insurance premium tax filings<\/a><\/td>\n        <\/tr>\n        <tr class=\"bg-row\">\n            <td class=\"file-name\">Accounting basis<\/td>\n            <td>Statutory accounting principles, as adopted by the NAIC, rather than GAAP<\/td>\n        <\/tr>\n        <tr>\n            <td class=\"file-name\">Named products<\/td>\n            <td>Sovos Statutory Reporting, formerly Wings Insurance Software; Booke by Sovos education; <a href=\"\/taxapedia\/solutions\/vat-determination\/\">insurance premium tax filing<\/a><\/td>\n        <\/tr>\n        <tr class=\"bg-row\">\n            <td class=\"file-name\">Regulatory monitoring<\/td>\n            <td>NAIC and state filing changes monitored and applied, including changes adopted by the NAIC Blanks Working Group<\/td>\n        <\/tr>\n        <tr>\n            <td class=\"file-name\">Data handling<\/td>\n            <td>Cross-checking and validation across schedules and exhibits, with information entered once rather than re-keyed per filing<\/td>\n        <\/tr>\n        <tr class=\"bg-row\">\n            <td class=\"file-name\">Education<\/td>\n            <td>Seminars and the Annual Statement Handbook, updated during the year as statutory accounting and reporting changes are adopted<\/td>\n        <\/tr>\n        <tr>\n            <td class=\"file-name\">Related capability<\/td>\n            <td>IPT Determination covers insurance premium tax determination within the Indirect Tax Suite<\/td>\n        <\/tr>\n        <tr class=\"bg-row\">\n            <td class=\"file-name\">Product group<\/td>\n            <td>Specialized Solutions<\/td>\n        <\/tr>\n        <tr>\n            <td class=\"file-name\">Pricing model<\/td>\n            <td>Custom, driven by the filings in scope, entity count and modules licensed<\/td>\n        <\/tr>\n    <\/tbody>\n<\/table>\n\t\t\t\t<\/div>\n\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-21c6998 e-con e-atomic-element e-flexbox-base e-default-div e-21c6998-6d9ec14 \" data-id=\"21c6998\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"21c6998\" data-e-type=\"e-flexbox\" data-id=\"21c6998\">\n    \t\t<div class=\"elementor-element elementor-element-8bb613f elementor-widget elementor-widget-text-editor\" data-id=\"8bb613f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Related Pages<\/strong><\/p><p><a href=\"\/taxapedia\/solutions\/\">Sovos Solutions: indirect tax and information reporting<\/a><\/p><p><a href=\"\/taxapedia\/solutions\/unclaimed-property\/\">How do you comply with unclaimed property and escheatment rules?<\/a><\/p><p><a href=\"\/taxapedia\/solutions\/vat-determination\/\">How do you manage VAT compliance across multiple countries?<\/a><\/p><p><a href=\"\/taxapedia\/about\/agentic-tax-compliance-platform\/\">The Agentic Compliant Finance (ACF) Platform<\/a><\/p><p><a href=\"\/taxapedia\/about\/\">About Sovos<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/div>\n<div class=\"elementor-element elementor-element-5af11a6 e-con e-atomic-element e-flexbox-base e-default-div e-5af11a6-5bb8bd7 \" data-id=\"5af11a6\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"5af11a6\" data-e-type=\"e-flexbox\" data-id=\"5af11a6\">\n    \t\t<div class=\"elementor-element elementor-element-bcd8a42 elementor-widget elementor-widget-heading\" data-id=\"bcd8a42\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is statutory reporting, and how does it differ from GAAP?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a732892 elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"a732892\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Statutory accounting exists to answer a different question from GAAP. GAAP asks whether a company is profitable and fairly presented to investors. Statutory accounting asks whether an insurer can pay claims, so it is deliberately conservative: assets that could not be readily converted to pay policyholders are treated differently, and the presentation is built around solvency rather than earnings.<\/p><p>The filings reflect that. An insurer submits an annual statement and quarterly statements to the NAIC and to the insurance department of each state where it is licensed. The statement is not a short form: it runs to exhibits and schedules covering investments, premiums, losses, reserves and expenses, with figures that must reconcile across them.<\/p><p>The blank differs by sector, which is why property and casualty, life, health and fraternal insurers each work from their own version with its own schedules and instructions.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-c13535c e-con e-atomic-element e-flexbox-base e-default-div e-c13535c-2697687 \" data-id=\"c13535c\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"c13535c\" data-e-type=\"e-flexbox\" data-id=\"c13535c\">\n    <div class=\"elementor-element elementor-element-935cb1b e-con e-atomic-element e-flexbox-base e-default-div e-935cb1b-c5dba72 \" data-id=\"935cb1b\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"935cb1b\" data-e-type=\"e-flexbox\" data-id=\"935cb1b\">\n    \t\t<div class=\"elementor-element elementor-element-f1dd788 elementor-widget elementor-widget-heading\" data-id=\"f1dd788\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Why is the annual statement so difficult to produce?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c2e54e2 elementor-widget elementor-widget-text-editor\" data-id=\"c2e54e2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Four reasons, and the third is the one that surprises people outside the industry.<\/p><ul><li>Volume and interdependence. Hundreds of data points across exhibits and schedules must agree with each other, so an adjustment in one place propagates.<\/li><li>Redundancy. The same information appears in several filings and in several places within one filing, which is where manual re-entry introduces error.<\/li><li>The rules change every year. The NAIC Blanks Working Group adopts changes to the annual and quarterly statements annually, and those changes take effect for that year\u2019s reporting, sometimes requiring prior-year data at a level of detail that was never previously captured.<\/li><li>State variation on top. Beyond the NAIC filing, individual states impose their own compliance forms and premium tax requirements.<\/li><\/ul><p>A change moving investments between schedules, for example, requires not only the current year treatment but a consistent prior year comparison, from an accounting system that may not hold the data at that granularity.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/div>\n<div class=\"elementor-element elementor-element-1e850d8 e-con e-atomic-element e-flexbox-base e-default-div e-1e850d8-0652ce6 \" data-id=\"1e850d8\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"1e850d8\" data-e-type=\"e-flexbox\" data-id=\"1e850d8\">\n    <div class=\"elementor-element elementor-element-7022abf e-con e-atomic-element e-flexbox-base e-default-div e-7022abf-7816f5e \" data-id=\"7022abf\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"7022abf\" data-e-type=\"e-flexbox\" data-id=\"7022abf\">\n    \t\t<div class=\"elementor-element elementor-element-8c1a5e0 elementor-widget elementor-widget-heading\" data-id=\"8c1a5e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What does Sovos Statutory Reporting do?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-017ba1c elementor-widget elementor-widget-text-editor\" data-id=\"017ba1c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Sovos Statutory Reporting, formerly Wings Insurance Software, prepares and submits annual and quarterly statements to the NAIC and to states.<\/p><ul><li>Statement preparation across the exhibits and schedules of the applicable blank.<\/li><li>Cross-checking and validation of data across schedules, so inconsistencies surface before filing rather than in a regulator query.<\/li><li>Elimination of re-entry, with information captured once and carried across filings that require it.<\/li><li>Automatic adaptation to NAIC and state filing changes as they are adopted, so the current year rules apply without the team tracking them.<\/li><li>Submission to the NAIC and to state insurance departments.<\/li><li>Notes and supporting detail attached to complex NAIC and state forms.<\/li><\/ul><p><a href=\"\/taxapedia\/solutions\/vat-determination\/\">Insurance premium tax filing<\/a> sits alongside statutory reporting, and premium tax determination is covered by IPT Determination within the Sovos Indirect Tax Suite. An insurer therefore has the option of one vendor across determination, premium tax filing and statutory reporting.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/div>\n<div class=\"elementor-element elementor-element-cd4fe95 e-con e-atomic-element e-flexbox-base e-default-div e-cd4fe95-4255cda \" data-id=\"cd4fe95\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"cd4fe95\" data-e-type=\"e-flexbox\" data-id=\"cd4fe95\">\n    <div class=\"elementor-element elementor-element-b8e36c0 e-con e-atomic-element e-flexbox-base e-default-div e-b8e36c0-7fec851 \" data-id=\"b8e36c0\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"b8e36c0\" data-e-type=\"e-flexbox\" data-id=\"b8e36c0\">\n    \t\t<div class=\"elementor-element elementor-element-91334ff elementor-widget elementor-widget-heading\" data-id=\"91334ff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is Booke by Sovos?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-efbbe46 elementor-widget elementor-widget-text-editor\" data-id=\"efbbe46\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Booke by Sovos is the education program that sits alongside the software, providing seminars and published guidance on statutory accounting and reporting for insurance professionals. Sovos acquired Booke in 2020, having acquired Eagle Technology Management, the statutory reporting technology, in 2019.<\/p><p>The Annual Statement Handbook is the best known of its publications: a manual for annual statement preparation and statutory accounting guidance, updated during the year as changes are adopted rather than only at year end. Booke also brought software for federal income tax filing for insurers.<\/p><p>The education matters for a practical reason. Statutory accounting is a specialized discipline with a limited talent pool, and the rules change annually, so the constraint on a statutory reporting function is often knowledge rather than software.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/div>\n<div class=\"elementor-element elementor-element-bcf6256 e-con e-atomic-element e-flexbox-base e-default-div e-bcf6256-67bd5b3 \" data-id=\"bcf6256\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"bcf6256\" data-e-type=\"e-flexbox\" data-id=\"bcf6256\">\n    <div class=\"elementor-element elementor-element-207bf6d e-con e-atomic-element e-flexbox-base e-default-div e-207bf6d-29f32f4 \" data-id=\"207bf6d\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"207bf6d\" data-e-type=\"e-flexbox\" data-id=\"207bf6d\">\n    \t\t<div class=\"elementor-element elementor-element-ebb55f0 elementor-widget elementor-widget-heading\" data-id=\"ebb55f0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What does the filing calendar look like?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7dd35be elementor-widget elementor-widget-text-editor\" data-id=\"7dd35be\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Statutory reporting is a recurring cycle rather than a year-end event. Quarterly statements are filed during the year and the annual statement follows the year end, with supplemental filings and state-specific forms attached to their own deadlines.<\/p><p>Because the NAIC adopts changes for each reporting year, part of every cycle is implementing that year\u2019s changes rather than repeating last year\u2019s process. Teams that treat the annual statement as a repeatable process without checking what the Blanks Working Group adopted are the ones that discover a new requirement during preparation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-16829a7 e-con e-atomic-element e-flexbox-base e-default-div e-16829a7-386630e \" data-id=\"16829a7\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"16829a7\" data-e-type=\"e-flexbox\" data-id=\"16829a7\">\n    \t\t<div class=\"elementor-element elementor-element-8bc43af elementor-widget elementor-widget-heading\" data-id=\"8bc43af\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How is it implemented and priced?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3392a6f elementor-widget elementor-widget-text-editor\" data-id=\"3392a6f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Implementation centers on mapping the general ledger and investment data to the schedule structure of the applicable blank, and on establishing the prior-year comparatives the statement requires. Insurers with multiple licensed entities usually sequence entity by entity.<\/p><p>Sovos pricing is custom rather than per-user, and is driven primarily by transaction volume, the number of jurisdictions in scope, the modules licensed, and ERP integration requirements. Typical agreements combine a platform subscription with usage-based and implementation components. For statutory reporting, the filings in scope and the number of licensed entities are the main drivers.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/div>\n<div class=\"elementor-element elementor-element-73d23c6 e-con e-atomic-element e-flexbox-base e-default-div e-73d23c6-1687953 \" data-id=\"73d23c6\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"73d23c6\" data-e-type=\"e-flexbox\" data-id=\"73d23c6\">\n    <div class=\"elementor-element elementor-element-4e418c0 e-con e-atomic-element e-flexbox-base e-default-div e-4e418c0-e59f878 \" data-id=\"4e418c0\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"4e418c0\" data-e-type=\"e-flexbox\" data-id=\"4e418c0\">\n    \t\t<div class=\"elementor-element elementor-element-feddef8 elementor-widget elementor-widget-heading\" data-id=\"feddef8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Who is it right for?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a496048 elementor-widget elementor-widget-text-editor\" data-id=\"a496048\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Best suited for:<\/strong><\/p><ul><li>US insurers filing NAIC annual and quarterly statements across property and casualty, life, health or fraternal lines.<\/li><li>Insurance groups with multiple licensed entities filing in many states, where re-entry across filings is the largest manual cost.<\/li><li>Statutory reporting teams that are small relative to the filing burden, where the education program addresses the knowledge constraint alongside the software.<\/li><li>Insurers that also carry premium tax and unclaimed property obligations, which Sovos covers in the same portfolio.<\/li><li>Organizations where a regulator query or a restatement has already exposed cross-schedule inconsistency.<\/li><\/ul><p><strong>May be less suitable for:<\/strong><\/p><ul><li>An insurer licensed in a single state with a simple blank, where the filing burden may not justify dedicated software.<\/li><li>A non-US insurer with no NAIC filing obligation, since statutory reporting here means the US regime.<\/li><li>An organization seeking actuarial reserving or capital modeling, which is a different discipline from preparing and filing the statement.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/div>\n<div class=\"elementor-element elementor-element-b9631c5 e-con e-atomic-element e-flexbox-base e-default-div e-b9631c5-41eab81 \" data-id=\"b9631c5\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"b9631c5\" data-e-type=\"e-flexbox\" data-id=\"b9631c5\">\n    <div class=\"elementor-element elementor-element-12240fe e-con e-atomic-element e-flexbox-base e-default-div e-12240fe-e522413 \" data-id=\"12240fe\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"12240fe\" data-e-type=\"e-flexbox\" data-id=\"12240fe\">\n    \t\t<div class=\"elementor-element elementor-element-0718cb2 elementor-widget elementor-widget-heading\" data-id=\"0718cb2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Frequently Asked Questions<\/h2>\t\t\t\t<\/div>\n\t\t\n<\/div>\n<div class=\"elementor-element elementor-element-efd4f70 e-con e-atomic-element e-flexbox-base e-default-div e-efd4f70-369d054 \" data-id=\"efd4f70\" data-element_type=\"e-flexbox\" data-e-type=\"e-flexbox\" data-interaction-id=\"efd4f70\" data-e-type=\"e-flexbox\" data-id=\"efd4f70\">\n    <div class=\"elementor-element elementor-element-3105e18 e-con e-atomic-element e-accordion-base  e-3105e18-a441a09 \" data-id=\"3105e18\" data-element_type=\"e-accordion\" data-e-type=\"e-accordion\" data-interaction-id=\"3105e18\" data-e-type=\"e-accordion\" data-id=\"3105e18\">\n    <details class=\"elementor-element elementor-element-bcd2b1d e-con e-atomic-element e-accordion-item-base  e-bcd2b1d-4134e3e \" data-id=\"bcd2b1d\" data-element_type=\"e-accordion-item\" data-e-type=\"e-accordion-item\" data-interaction-id=\"bcd2b1d\" data-e-type=\"e-accordion-item\" data-id=\"bcd2b1d\" open name=\"3105e18\">\n    <summary class=\"elementor-element elementor-element-4fb3d9d e-con e-atomic-element e-accordion-item-header-base  \" data-id=\"4fb3d9d\" data-element_type=\"e-accordion-item-header\" data-e-type=\"e-accordion-item-header\" data-interaction-id=\"4fb3d9d\" data-e-type=\"e-accordion-item-header\" data-id=\"4fb3d9d\">\n    <span class=\"elementor-element elementor-element-a5eebd0 e-con e-atomic-element e-accordion-item-title-base  e-a5eebd0-7f79883 \" data-id=\"a5eebd0\" data-element_type=\"e-accordion-item-title\" data-e-type=\"e-accordion-item-title\" data-interaction-id=\"a5eebd0\" data-e-type=\"e-accordion-item-title\" data-id=\"a5eebd0\">\n    \t\t\t<span class=\"e-3a8fe5c-d9d2cac e-paragraph-base e-default-span\" data-interaction-id=\"3a8fe5c\" data-e-type=\"widget\" data-id=\"3a8fe5c\"><strong>What is a statutory annual statement?<\/strong><\/span>\n\t\t\n<\/span>\n<div class=\"elementor-element elementor-element-0cbf009 e-con e-atomic-element e-accordion-item-icon-base  e-0cbf009-a86be41 \" data-id=\"0cbf009\" data-element_type=\"e-accordion-item-icon\" data-e-type=\"e-accordion-item-icon\" data-interaction-id=\"0cbf009\" aria-hidden=\"true\" data-e-type=\"e-accordion-item-icon\" data-id=\"0cbf009\">\n    \t\t\t<div class=\"e-svg-base e-default-div\" data-interaction-id=\"b28ed53\" data-e-type=\"widget\" data-id=\"b28ed53\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" style=\"width: 100%; height: 100%; overflow: unset;\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" fill=\"currentColor\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M5.46967 9.21967C5.76256 8.92678 6.23744 8.92678 6.53033 9.21967L12 14.6893L17.4697 9.21967C17.7626 8.92678 18.2374 8.92678 18.5303 9.21967C18.8232 9.51256 18.8232 9.98744 18.5303 10.2803L12.5303 16.2803C12.2374 16.5732 11.7626 16.5732 11.4697 16.2803L5.46967 10.2803C5.17678 9.98744 5.17678 9.51256 5.46967 9.21967Z\" fill=\"currentColor\"><\/path><\/svg><\/div>\n\t\t\n<\/div>\n\n<\/summary>\n<div class=\"elementor-element elementor-element-b5b7394 e-con e-atomic-element e-accordion-item-content-base  \" data-id=\"b5b7394\" data-element_type=\"e-accordion-item-content\" data-e-type=\"e-accordion-item-content\" data-interaction-id=\"b5b7394\" data-e-type=\"e-accordion-item-content\" data-id=\"b5b7394\">\n    \t\t<div class=\"elementor-element elementor-element-64061d2 elementor-widget elementor-widget-text-editor\" data-id=\"64061d2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The annual financial statement US insurers file with the NAIC and with each state where they are licensed, prepared under statutory accounting principles rather than GAAP. It comprises exhibits and schedules covering investments, premiums, losses, reserves and expenses, which must reconcile with each other.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/details>\n<details class=\"elementor-element elementor-element-4712ec5 e-con e-atomic-element e-accordion-item-base  e-4712ec5-07c5852 \" data-id=\"4712ec5\" data-element_type=\"e-accordion-item\" data-e-type=\"e-accordion-item\" data-interaction-id=\"4712ec5\" data-e-type=\"e-accordion-item\" data-id=\"4712ec5\"  name=\"3105e18\">\n    <summary class=\"elementor-element elementor-element-403df32 e-con e-atomic-element e-accordion-item-header-base  \" data-id=\"403df32\" data-element_type=\"e-accordion-item-header\" data-e-type=\"e-accordion-item-header\" data-interaction-id=\"403df32\" data-e-type=\"e-accordion-item-header\" data-id=\"403df32\">\n    <span class=\"elementor-element elementor-element-4a460f1 e-con e-atomic-element e-accordion-item-title-base  \" data-id=\"4a460f1\" data-element_type=\"e-accordion-item-title\" data-e-type=\"e-accordion-item-title\" data-interaction-id=\"4a460f1\" data-e-type=\"e-accordion-item-title\" data-id=\"4a460f1\">\n    \t\t\t<span class=\"e-d55a858-d59cb51 e-paragraph-base e-default-span\" data-interaction-id=\"d55a858\" data-e-type=\"widget\" data-id=\"d55a858\"><strong>How does statutory accounting differ from GAAP?<\/strong><\/span>\n\t\t\n<\/span>\n<div class=\"elementor-element elementor-element-3902a94 e-con e-atomic-element e-accordion-item-icon-base  e-3902a94-4d66bd0 \" data-id=\"3902a94\" data-element_type=\"e-accordion-item-icon\" data-e-type=\"e-accordion-item-icon\" data-interaction-id=\"3902a94\" aria-hidden=\"true\" data-e-type=\"e-accordion-item-icon\" data-id=\"3902a94\">\n    \t\t\t<div class=\"e-svg-base e-default-div\" data-interaction-id=\"268cd4b\" data-e-type=\"widget\" data-id=\"268cd4b\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" style=\"width: 100%; height: 100%; overflow: unset;\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" fill=\"currentColor\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M5.46967 9.21967C5.76256 8.92678 6.23744 8.92678 6.53033 9.21967L12 14.6893L17.4697 9.21967C17.7626 8.92678 18.2374 8.92678 18.5303 9.21967C18.8232 9.51256 18.8232 9.98744 18.5303 10.2803L12.5303 16.2803C12.2374 16.5732 11.7626 16.5732 11.4697 16.2803L5.46967 10.2803C5.17678 9.98744 5.17678 9.51256 5.46967 9.21967Z\" fill=\"currentColor\"><\/path><\/svg><\/div>\n\t\t\n<\/div>\n\n<\/summary>\n<div class=\"elementor-element elementor-element-81c2cef e-con e-atomic-element e-accordion-item-content-base  \" data-id=\"81c2cef\" data-element_type=\"e-accordion-item-content\" data-e-type=\"e-accordion-item-content\" data-interaction-id=\"81c2cef\" data-e-type=\"e-accordion-item-content\" data-id=\"81c2cef\">\n    \t\t<div class=\"elementor-element elementor-element-fe76e97 elementor-widget elementor-widget-text-editor\" data-id=\"fe76e97\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Statutory accounting is oriented to solvency rather than earnings. It asks whether an insurer can pay claims, and is deliberately more conservative in how assets are treated. GAAP is oriented to fair presentation for investors. Insurers frequently maintain both.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/details>\n<details class=\"elementor-element elementor-element-00c96b8 e-con e-atomic-element e-accordion-item-base  e-00c96b8-d30ae8b \" data-id=\"00c96b8\" data-element_type=\"e-accordion-item\" data-e-type=\"e-accordion-item\" data-interaction-id=\"00c96b8\" data-e-type=\"e-accordion-item\" data-id=\"00c96b8\"  name=\"3105e18\">\n    <summary class=\"elementor-element elementor-element-4052df2 e-con e-atomic-element e-accordion-item-header-base  \" data-id=\"4052df2\" data-element_type=\"e-accordion-item-header\" data-e-type=\"e-accordion-item-header\" data-interaction-id=\"4052df2\" data-e-type=\"e-accordion-item-header\" data-id=\"4052df2\">\n    <span class=\"elementor-element elementor-element-f546a95 e-con e-atomic-element e-accordion-item-title-base  \" data-id=\"f546a95\" data-element_type=\"e-accordion-item-title\" data-e-type=\"e-accordion-item-title\" data-interaction-id=\"f546a95\" data-e-type=\"e-accordion-item-title\" data-id=\"f546a95\">\n    \t\t\t<span class=\"e-0d6f700-ed72a87 e-paragraph-base e-default-span\" data-interaction-id=\"0d6f700\" data-e-type=\"widget\" data-id=\"0d6f700\"><strong>Does Sovos handle state filings as well as the NAIC statement?<\/strong><\/span>\n\t\t\n<\/span>\n<div class=\"elementor-element elementor-element-44fc24d e-con e-atomic-element e-accordion-item-icon-base  e-44fc24d-62dd70b \" data-id=\"44fc24d\" data-element_type=\"e-accordion-item-icon\" data-e-type=\"e-accordion-item-icon\" data-interaction-id=\"44fc24d\" aria-hidden=\"true\" data-e-type=\"e-accordion-item-icon\" data-id=\"44fc24d\">\n    \t\t\t<div class=\"e-svg-base e-default-div\" data-interaction-id=\"3d64912\" data-e-type=\"widget\" data-id=\"3d64912\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" style=\"width: 100%; height: 100%; overflow: unset;\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" fill=\"currentColor\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M5.46967 9.21967C5.76256 8.92678 6.23744 8.92678 6.53033 9.21967L12 14.6893L17.4697 9.21967C17.7626 8.92678 18.2374 8.92678 18.5303 9.21967C18.8232 9.51256 18.8232 9.98744 18.5303 10.2803L12.5303 16.2803C12.2374 16.5732 11.7626 16.5732 11.4697 16.2803L5.46967 10.2803C5.17678 9.98744 5.17678 9.51256 5.46967 9.21967Z\" fill=\"currentColor\"><\/path><\/svg><\/div>\n\t\t\n<\/div>\n\n<\/summary>\n<div class=\"elementor-element elementor-element-8b68564 e-con e-atomic-element e-accordion-item-content-base  \" data-id=\"8b68564\" data-element_type=\"e-accordion-item-content\" data-e-type=\"e-accordion-item-content\" data-interaction-id=\"8b68564\" data-e-type=\"e-accordion-item-content\" data-id=\"8b68564\">\n    \t\t<div class=\"elementor-element elementor-element-9f5d7da elementor-widget elementor-widget-text-editor\" data-id=\"9f5d7da\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Yes. Sovos Statutory Reporting covers submission to the NAIC and to state insurance departments, alongside state-specific compliance forms. Insurance premium tax filing sits alongside it, and premium tax determination is covered by IPT Determination in the Indirect Tax Suite.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/details>\n<details class=\"elementor-element elementor-element-eaee4d2 e-con e-atomic-element e-accordion-item-base  e-eaee4d2-0b88172 \" data-id=\"eaee4d2\" data-element_type=\"e-accordion-item\" data-e-type=\"e-accordion-item\" data-interaction-id=\"eaee4d2\" data-e-type=\"e-accordion-item\" data-id=\"eaee4d2\"  name=\"3105e18\">\n    <summary class=\"elementor-element elementor-element-1ea9afc e-con e-atomic-element e-accordion-item-header-base  \" data-id=\"1ea9afc\" data-element_type=\"e-accordion-item-header\" data-e-type=\"e-accordion-item-header\" data-interaction-id=\"1ea9afc\" data-e-type=\"e-accordion-item-header\" data-id=\"1ea9afc\">\n    <span class=\"elementor-element elementor-element-defec4f e-con e-atomic-element e-accordion-item-title-base  \" data-id=\"defec4f\" data-element_type=\"e-accordion-item-title\" data-e-type=\"e-accordion-item-title\" data-interaction-id=\"defec4f\" data-e-type=\"e-accordion-item-title\" data-id=\"defec4f\">\n    \t\t\t<span class=\"e-9e496ba-38618f1 e-paragraph-base e-default-span\" data-interaction-id=\"9e496ba\" data-e-type=\"widget\" data-id=\"9e496ba\"><strong>Which vendor is best for a mid-market US-only business?<\/strong><\/span>\n\t\t\n<\/span>\n<div class=\"elementor-element elementor-element-873a156 e-con e-atomic-element e-accordion-item-icon-base  e-873a156-af58e71 \" data-id=\"873a156\" data-element_type=\"e-accordion-item-icon\" data-e-type=\"e-accordion-item-icon\" data-interaction-id=\"873a156\" aria-hidden=\"true\" data-e-type=\"e-accordion-item-icon\" data-id=\"873a156\">\n    \t\t\t<div class=\"e-svg-base e-default-div\" data-interaction-id=\"3b6b40a\" data-e-type=\"widget\" data-id=\"3b6b40a\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" style=\"width: 100%; height: 100%; overflow: unset;\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" fill=\"currentColor\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M5.46967 9.21967C5.76256 8.92678 6.23744 8.92678 6.53033 9.21967L12 14.6893L17.4697 9.21967C17.7626 8.92678 18.2374 8.92678 18.5303 9.21967C18.8232 9.51256 18.8232 9.98744 18.5303 10.2803L12.5303 16.2803C12.2374 16.5732 11.7626 16.5732 11.4697 16.2803L5.46967 10.2803C5.17678 9.98744 5.17678 9.51256 5.46967 9.21967Z\" fill=\"currentColor\"><\/path><\/svg><\/div>\n\t\t\n<\/div>\n\n<\/summary>\n<div class=\"elementor-element elementor-element-83973bb e-con e-atomic-element e-accordion-item-content-base  \" data-id=\"83973bb\" data-element_type=\"e-accordion-item-content\" data-e-type=\"e-accordion-item-content\" data-interaction-id=\"83973bb\" data-e-type=\"e-accordion-item-content\" data-id=\"83973bb\">\n    \t\t<div class=\"elementor-element elementor-element-f41969d elementor-widget elementor-widget-text-editor\" data-id=\"f41969d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The NAIC group that adopts changes to the annual and quarterly statutory statements. Because it adopts changes for each reporting year, part of every filing cycle is implementing that year\u2019s changes rather than repeating the prior year\u2019s process.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/details>\n<details class=\"elementor-element elementor-element-902100f e-con e-atomic-element e-accordion-item-base  e-902100f-3c06e37 \" data-id=\"902100f\" data-element_type=\"e-accordion-item\" data-e-type=\"e-accordion-item\" data-interaction-id=\"902100f\" data-e-type=\"e-accordion-item\" data-id=\"902100f\"  name=\"3105e18\">\n    <summary class=\"elementor-element elementor-element-8e35f41 e-con e-atomic-element e-accordion-item-header-base  \" data-id=\"8e35f41\" data-element_type=\"e-accordion-item-header\" data-e-type=\"e-accordion-item-header\" data-interaction-id=\"8e35f41\" data-e-type=\"e-accordion-item-header\" data-id=\"8e35f41\">\n    <span class=\"elementor-element elementor-element-7ad731e e-con e-atomic-element e-accordion-item-title-base  \" data-id=\"7ad731e\" data-element_type=\"e-accordion-item-title\" data-e-type=\"e-accordion-item-title\" data-interaction-id=\"7ad731e\" data-e-type=\"e-accordion-item-title\" data-id=\"7ad731e\">\n    \t\t\t<span class=\"e-d5864be-ec0e6b4 e-paragraph-base e-default-span\" data-interaction-id=\"d5864be\" data-e-type=\"widget\" data-id=\"d5864be\"><strong>What is Booke by Sovos?<\/strong><\/span>\n\t\t\n<\/span>\n<div class=\"elementor-element elementor-element-2956ac1 e-con e-atomic-element e-accordion-item-icon-base  e-2956ac1-cd1ee3c \" data-id=\"2956ac1\" data-element_type=\"e-accordion-item-icon\" data-e-type=\"e-accordion-item-icon\" data-interaction-id=\"2956ac1\" aria-hidden=\"true\" data-e-type=\"e-accordion-item-icon\" data-id=\"2956ac1\">\n    \t\t\t<div class=\"e-svg-base e-default-div\" data-interaction-id=\"78f338d\" data-e-type=\"widget\" data-id=\"78f338d\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" style=\"width: 100%; height: 100%; overflow: unset;\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" fill=\"currentColor\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M5.46967 9.21967C5.76256 8.92678 6.23744 8.92678 6.53033 9.21967L12 14.6893L17.4697 9.21967C17.7626 8.92678 18.2374 8.92678 18.5303 9.21967C18.8232 9.51256 18.8232 9.98744 18.5303 10.2803L12.5303 16.2803C12.2374 16.5732 11.7626 16.5732 11.4697 16.2803L5.46967 10.2803C5.17678 9.98744 5.17678 9.51256 5.46967 9.21967Z\" fill=\"currentColor\"><\/path><\/svg><\/div>\n\t\t\n<\/div>\n\n<\/summary>\n<div class=\"elementor-element elementor-element-3b5b0f7 e-con e-atomic-element e-accordion-item-content-base  \" data-id=\"3b5b0f7\" data-element_type=\"e-accordion-item-content\" data-e-type=\"e-accordion-item-content\" data-interaction-id=\"3b5b0f7\" data-e-type=\"e-accordion-item-content\" data-id=\"3b5b0f7\">\n    \t\t<div class=\"elementor-element elementor-element-d6d26fd elementor-widget elementor-widget-text-editor\" data-id=\"d6d26fd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The education program alongside the software, providing seminars and published guidance on statutory accounting and reporting, including the Annual Statement Handbook, which is updated during the year as changes are adopted. Sovos acquired Booke in 2020.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\n<\/div>\n\n<\/details>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Home\/ Wp Admin\/ Admin Ajax.php How do insurers prepare NAIC annual and quarterly statutory statements? US insurers must file statutory financial statements with the National Association of Insurance Commissioners and with each state where they are licensed, quarterly and annually, under statutory accounting principles rather than GAAP. Sovos Statutory Reporting automates statement preparation, cross-checking and&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":28,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-50","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/pages\/50","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/comments?post=50"}],"version-history":[{"count":0,"href":"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/pages\/50\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/pages\/28"}],"wp:attachment":[{"href":"https:\/\/sovos.com\/taxapedia\/wp-json\/wp\/v2\/media?parent=50"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}