The Reports module is where you can generate necessary reports throughout the year. In this module you can view data totals and ratios critical to running your company. Reports provides you with current financial data on your company based on the information tracked in BriteCore. Additionally, the Reports module can give you targeted demographic data for enhancing your marketing power.
BriteCore’s reporting module provides you with the operational insight needed to finely-tune your business and stand out from your competition. Make sound business decisions to grow and sustain your company with one of three categories of reporting data: NAIC Standard Reports, Custom Reports, and Data Extracts.
We offer a solid base of over 50 standard NAIC reports for managerial analysis and statutory accounting compliance. We consult regularly with Booke to validate the design and quality of our standard reports, and run automated system audits on a nightly basis to maintain correct, repeatable balances. Our standard reports come in a variety of formats including print ready PDFs, excel templates and spreadsheets, csv files, and flat text files. Examples of standard reports include written premium, aged accounts receivable, and market conduct activity.
IWS completed development of BriteData, a new drag and drop Business Intelligence and reporting tool for the BriteCore Insurance Administration System. This advanced reporting tool allows business users to easily configure any report with unlimited access to policy, claims, and accounting data. BriteCore CIO and Founder, Chris Reynolds unveiled this exciting new feature at the 6th Annual BriteCore Conference in Branson, MO. Click here to view his presentation online.
Individual carriers have reporting needs specific to their lines of business, state department, and reinsurance treaties. We develop custom reports as a component of every system implementation to make sure you have access to the data you need in the precise format you desire. Examples of custom reports include state fire fees paid, detailed limit profiles, and loss layer summaries for reinsurance.
Month-end reports run automatically at the end of the month and are comprised of the following report types: Stock Reports (a standard list of reports that run for all clients), Custom Reports (this includes client-specific reports that run for those who need them) and BriteData Reports (reports clients designate to run by selecting the 'Run Report Monthly' option from the report setup menu in BriteCore).
Business Intelligence is a key asset to many insurance providers because it can be used as leverage during the business development, decision making, and implementation process. BriteCore comes with a comprehensive data warehouse that can be used to drive business value and supports better decision-making by giving carriers unlimited access to their own data.
Designed for easy retrieval of information, the warehouse is composed of data marts specific to certain logical business functions. Insurers with internal IT expertise can mine this comprehensive dataset for risk analysis, advanced processing, business performance management, benchmarking, and predictive modeling.
We've recognized a growing desire within the community for IWS to maintain industry-leading compliance and managerial reports for BriteCore. In response, we've created a task force made up of qualified individuals from a broad spectrum of perspectives and expertise to address this need. The Reports Task Force is a group that analyzes current available BriteCore reports to ensure standardized reports are available to meet reasonable compliance requirements for BriteCore clients. In addition, this team identifies best practices for balancing, organizing, and distributing reports for clients.
The Reports Task Force includes internal software engineers with expertise in reporting issues, a CPA, documentation experts, and client representation. The group also engages experts in the industry to assist with balancing equations and determine industry-standard terminology. We provide users with updates on the progress of reports as they become available. Throughout the project, you may be asked to provide IWS with input and feedback via the BriteWiki forum. If you have any specific questions regarding the task force and its purpose, please feel free to email Kevin Yount, Director of Finance, at email@example.com.