Insurance
deFacto
Insurance Model
Real-time analysis, planning, allocation, and ratios, all in compliance with GAAP and Statutory accounting principles, seamlessly integrated with comprehensive corporate planning capabilities
Industries
Property & Casualty Insurance
Uses
GAAP & Statutory Reporting, Business Rules, Key Insurance Ratios, Forecasting, Operational Budgeting, ORSA Scenarios, Allocations & BI Tools
Description
Forecasting:
- Premiums, losses, investment income, and state premium taxes can be modeled and forecasted incorporating input from all necessary stakeholders.
- Input templates and workflow functionality allowing multiple users and operational areas to coordinate and manage budget data in a centralized place.
- Operational budgets can be integrated with the forecast seamlessly.
- Quick forecasting of ORSA scenarios and custom what-if scenarios.
Drill-Down | Through:
- Using deFacto’s unique investigative feature, easily drill-down into reports to identify and explain year-over-year and budget variances.
- Drill through to the general ledger and any other source systems such as the claims and policy admin systems to analyze transactional data.
- Explanations for variances can be entered and stored in deFacto. Comments are directly linked to the relevant data, making them easily visible to all users and adding efficiency to your financial analysis process.
Reporting Planning:
- Preconfigured reports eliminate mistakes common with traditional excel-based and manual processes.
- Multiple account and line-of-business hierarchies enable reporting on a GAAP and Statutory basis with the click of a button.
- Dynamic, ad hoc, reports can be generated instantly and viewed across any combination of dimensions including Entity, Line-of-Business, State, and Time.
