REGUL8 ADDRESSES INSURANCE REGULATORY REPORTING CHALLENGES
regul8 manages data interactions with regulatory bodies for insurers. We provide carriers complete control over the statistical reporting process, enhancing reporting accuracy, saving management time and reducing operating costs.
We enable secure transfer of data submission to government, insurer association and pricing oversight regulatory groups for personal, auto and commercial lines of business. In Canadian markets this includes IBC, GAA and RSP reporting.
Our market-leading regulatory reporting solution is operational and proven with numerous insurers, ensuring reporting is filed on-time and accurately.
The choice of regul8 was straightforward; we are committed as an organization of ensuring the highest quality of statistical data reporting… regul8 also ensures that future stat changes are implemented correctly and on time. We are confident we will achieve both higher data quality and more streamlined operations.
Head of IT, Zurich Canada
REGULATORY REPORTING ACCELERATOR
Hubio is proud to be a Guidewire partner, and has developed a Regulatory Reporting Accelerator to meet regulatory reporting requirements for Guidewire PolicyCenter insurers. This is the first accelerator, is now Ready for Guidewire, and represents the first in a plan to provide complete regulatory reporting capabilities to complement the Guidewire suite.
Policy and Claim transactions need to be provided to regulators in a variety of specific formats, covering distinct risks. While these vary greatly by jurisdiction the core requirement to extract and present data pertaining to claims, billing and policies is common across markets.
The regul8 for PolicyCenter Ready for Guidewire Accelerator is an extraction solution that identifies and obtains the necessary information for regulatory submissions. It works in conjunction with regul8, Hubio’s proven solution to ensure data is submitted in the structure required; in the necessary time frames; accurately, auditable, sorted, grouped and summarized.
Insurers trust in Hubio to automate their regulatory reporting process.
CASE STUDY: WAWANESA INSURANCE
The ability of insurers to meet regulatory reporting compliance is being challenged by increased volume and complexity of regulations across different regulatory bodies.
To ensure compliance, Wawanesa Insurance Company implemented Hubio’s statistical reporting solution. Read the full study to learn how they reduced costs, improved quality, and decreased their overall risk.
To reporting authorities such as IBC, GAA and RSP