Santa Monica, CA /PRNewswire/ - Perr&Knight, a leading provider of actuarial consulting and insurance operations solutions, announces today the 2-way integration of the National Association of Insurance Commissioners' (NAIC) System for Electronic Rate and Form Filing (SERFF) and Perr&Knight's cloud-based StateFilings.com software solution.
StateFilings.com is the leading software platform that helps insurance companies create and manage their products and filings. It is a single source of truth where insurance companies can easily collaborate to create and file insurance products and manage all of their associated forms, rules, and other documents.
For 20+ years, Perr&Knight has continued to leverage our deep regulatory compliance expertise to build cutting-edge software for insurance companies. As the first cloud-based filing software to integrate directly with SERFF, feature-rich StateFilings.com is utilized by 30% of the top 10 and of the top 40 property casualty insurance groups, along with numerous small to mid-sized companies, fronting companies, InsurTechs, MGAs, and more.
The 2-way integration with SERFF further automates filing activities and documentation by eliminating the need for certain data input, which materially reduces work effort and the associated risk of human error.
"We're thrilled to be expanding our SERFF integration within StateFilings.com. It is an essential step in the evolution of our platform and immediately adds many valuable new features and efficiencies," said Tim Perr, chief executive officer of Perr&Knight. "Our growing partnership with the NAIC marks the continuing development of StateFilings.com as the industry standard for managing and documenting the filing processes in the insurance industry."
StateFilings.com enables insurance companies to:
- Clone a single filing into 50 states. The system will even split your combined rate, rule and form filing into components where required.
- Request an extension or a status update for multiple filings at once using our time saving Note to Reviewer templates.
- Receive proactive notifications instantly when objections or other important correspondence is received so you don't have to spend time monitoring your filings and checking for updates.
- Create a form, rule, or supporting document template and apply it to multiple filings at the same time instead of importing into each filing where you want to use it.
- Search the text of prior objections to facilitate faster, more consistent responses to subsequent DOI questions.
- Monitor, assess and adopt bureau changes for multiple bureaus, lines of business and states in one location.
- Easily migrate older filings into the StateFilings.com platform.
In addition, StateFilings.com offers best in class data security. The system is SOC 2 Type II Certified, data is protected by CrowdStrike Security Cloud, and we have engaged Trustwave and Elliot Davis for proactive application and network penetration testing.
For additional information or to schedule a demonstration and free trial of StateFilings.com, please visit www.perrknight.com/products/statefilings-com/ or contact us via phone or email.
Founded in 1994, Perr&Knight provides insurance consulting and software solutions to the property & casualty and accident & health industries. Services include actuarial consulting, product development, insurance policy and forms consulting, regulatory compliance, state filings, licensing, technology consulting, statistical reporting, data services, and predictive analytics. Software includes StateFilings.com, a leading cloud-based state filings management solution. With offices in Santa Monica, Boca Raton, the New York Metro Area, Fort Worth, and Cincinnati, and more than 130 insurance professionals including over 30 credentialed actuaries, Perr&Knight is among the largest independent actuarial and insurance consulting firms in the United States.
About the NAIC
The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. For more information, visit www.naic.org.