Preparing and submitting data to statistical bureaus is a necessary part of insurers’ operations. Yet bureau reporting is a non-strategic, time-consuming, and labor-intensive process prone to errors and fines.
Every minute spent on non-revenue generating processes is cause for concern in our rapidly changing industry, where P&C carriers are pressured to do more with diminishing resources.
Your staff’s time and energy need to be directed towards growth-oriented initiatives. This means streamlining internal operations and redirecting resources to profitable engagements.
- Improve operating efficiencies by capitalizing on our expertise and unique insights preparing and submitting data for over 65 years. No single carrier can develop the same capabilities.
- Reduce expenses: Avoid fines for missing deadlines and submitting erroneous data. Benefit from our reporting efficiencies developed from preparing data for carriers of all sizes.
- Focus on revenue-generating initiatives. Instead of monitoring circulars for reporting requirement changes and handling lengthy calls and error correction processes with statistical bureaus, redirect your resources to growth-oriented, profitable initiatives.
IDP has reported statistical data for many insurance carriers for over six decades—that’s tens of millions of data elements formatted correctly and submitted on time.