Nearly 150 property/casualty insurers are now using the AAIS Statistical Data Management Application (SDMA), launched in 2014, to report premium and loss data for both regulatory and ratemaking purposes.
Stephen A. Martin, Sr. Statistical Specialist, Penn National Insurance
"As our company representative for statistical reporting, I have witnessed the migration of statistical reports from paper copy to spread sheet to floppy disk, then to CDs and on to FTP.
"The biggest improvement has been in the development of online applications, and AAIS has one of the most user-friendly platforms of those that I use.
"The Statistical Data Management Application available on AAISdirect makes it so easy to edit our data that I have been able to submit all of our data without errors since going live with the application.
"Now it takes only one day to complete a submission, instead of the 7-10 days it used to take. The SDMA is very intuitive for those who know the data and are familiar with the statistical record requirements.
"The effort AAIS put into the design has been well worth it in terms of the work required to submit reports. You have made my job easier, plain and simple."
SDMA allows data to be submitted, validated, corrected, and approved through a web browser by a system based on AAISdirect, the online repository of AAIS policy forms, rating information, statistical plans, and other information.
Using the 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. 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 thousands of files and millions of records received each quarter to ensure that reports get to the appropriate agencies on-time.
Among the benefits provided by the AAIS Statistical Data Management Application are:
- The ability to submit data files securely from any location through a web browser;
- The ability to upload data for each line of business in bulk or in separate files;
- Support for various file formats and structures;
- Consistent, single-source, and easily maintained validation rules;
- Real-time validation and re-validation of files;
- Online view of validation results along with affected records on one screen;
- A workflow that allows for easy rejection, acceptance, and resubmission of files; and
- Automated online reporting of file status.
Using the Statistical Data Management Application
The following describes the basic workflow of the AAIS Statistical Data Management Application (SDMA):
- Secure Login: A reporting company logs in to AAISdirect and selects the Statistical Reporting Application. (Enhanced AAISdirect security is set up to allow only authorized users to upload and approve data.)
- File Upload: The reporting company “browses” for file to upload from their local computer/network and uploads the file. Data can be “zipped” into one file containing many lines of business and dates or files can be uploaded individually.
- Validation: Once the file is uploaded, an automatic data validation routine is executed. This validation is “rules based”—so it can be maintained by non-technical staff--and has more than 1,000 quality and error checks working behind the scenes.
- Reporting Company Review: Once the file is validated, a user can view the validation report online or download it in Microsoft® Excel format.
- Error Correction: If there are errors, the reporting company can correct the errors online in real-time and re-run the validation routine or reject the submission and re-submit a new file.
- Reporting Company Approval: Once all errors are corrected, the affiliate can “approve” the file submission.
- Stat Agent Approval: AAIS staff members then review and approve or reject the file.
- Value-Added Analysis: Once the file is approved, the data is moved to our Data Resource Center where the compliance reports and other analytics are performed.
For information on affiliating with AAIS for statistical reporting or other products and services, contact Rick Maka, AAIS director of marketing and strategic alliances, by email or by calling 630-457-3222.