Kirkland, Wash. - The National Association of Insurance Commissioners (NAIC) has selected Ubmatrix, a Kirkland, Wash., supplier of software and services, to provide technical support and training in the development of an XBRL demonstration project for use with NAIC's insurance statutory financial reporting data.
XBRL is the global standard for automated business reporting and analysis. XML is the foundation for XBRL standards and provides XML vocabularies (taxonomies) specific to a value chain segment. UBmatrix will work with NAIC to develop an XBRL taxonomy methodology; a limited insurance statutory XBRL taxonomy, and use the taxonomy to produce XBRL instance documents for a subset of insurance company financial data. UBmatrix has been hired to mentor and train NAIC's business and technical staff and provide business and technical assistance and guidance to the NAIC during the project.
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