The American Association of Insurance Services, a P&C advisory organization and licensed statistical agent, has released a Statistical Data Management Application that automates its member companies’ premiums and loss reporting. The application allows data to be submitted, validated, corrected and approved through a Web browser by a system based on AAISdirect. AAISdirect is online repository of policy forms, rating information, statistical plans, and other information maintained by AAIS for more than 25 programs of personal, commercial, agricultural and inland marine insurance.
The American Association of Insurance Services (AAIS) is one of two licensed P&C statistical agents that collect unit transaction data on premiums and losses for policies providing property and/or general liability coverage, the association said. Data submitted through AAIS statistical plans satisfies regulatory reporting requirements established by state departments of insurance, the National Association of Insurance Commissioners and AIPSO.
Using Statistical Data Management Application (SDMA), companies reporting data to AAIS can upload files in various formats through a Web browser, and a rules engine will automatically identify any errors and data quality issues, AAIS said. Users can make changes through their Web browsers or resubmit corrected files. A workflow using various status codes allows staff at companies and AAIS to manage files and records received each quarter to ensure that reports get to the appropriate agencies on time.
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