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Vol. 36 | October 2019
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Data Quality Report Enhancements
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We are pleased to announce three data quality report enhancements that will be available for the 2020 Call Year! These include:
- Pre-Edit Error Report and comma-delimited file
- Annual Statement Line of Business Data Quality Report and comma-delimited file
- Prooflist comma-delimited file
The comma-delimited files allow member companies to import the data files into a program like Access or Excel, where you can use the ‘sort’ and ‘filter’ features to easily isolate and analyze any data issues. The reports will be added to your current data quality reports and will also be available with the NISS Online Edit. For 2020 they will be available for the following lines of business:
- Burglary, Robbery and Theft
- Homeowners
- Farmowners
- Inland Marine
- Fidelity, Surety and Forgery
The enhancements will be added to other lines of business in the future. We hope you find these new resources very useful as we continue to try to make the reporting process as easy and simple as possible.
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Annual Statement Reconciliation
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As we near the end of 2019, we would like to remind you of the importance of reconciling your NISS data submissions to your Statutory Page 14. Each year, NISS prepares an Annual Statement Balancing Report for each member company and highlights any differences in which the reconciliation tolerance is exceeded. This is critical to ensure we have received all necessary data.
In many cases, differences can simply be explained using Reconciliation Worksheets. We encourage companies to send in Reconciliation Worksheets as you send data submissions to let us know in advance of any differences. Your company can also submit Reconciliation Worksheets in response to receiving the Annual Statement Balancing Report. Whichever way you choose, the balancing process helps make sure data quality standards are met and is an important step in the statistical reporting process.
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Where We’re Going and Where We’ve Been
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- In April, NISS attended the IDMA Conference in Chicago, Illinois
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In May, NISS attended the DigIn Conference in Austin, Texas
- In June, NISS hosted a booth at the Insurance Accounting & Systems Association (IASA) Annual Conference in Phoenix, Arizona
- In September, NISS attended the InsureTech Connect Conference in Las Vegas, Nevada
- NISS attends the NAIC meetings throughout the year
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About Us
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NISS is a unique resource for the property/casualty insurance industry. We
collect and report timely,
quality insurance data and perform other related functions at a reasonable
cost.
For more information, please visit
www.niss-stat.org
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2019 Upcoming Due Dates
For a list of upcoming due dates, please click
here.
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2019 Upcoming Meetings
Executive Committee Meeting
Teleconference
November 26, 2019
Board Meeting
Teleconference
December 16, 2019
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Stat Brain Teaser
Michael left home running. He ran a little ways and then turned left, ran the same distance and turned left again, ran the same distance and turned left again. When he got home, there were two masked men. Who were they?
Please email your answers to
NISSNews@niss-stat.org.
A person will be randomly drawn from the first ten correct answers, and that
person will win a
$25 gift card from Amazon.com!
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Winner of $25 Amazon gift card last quarter: John Kime
For the question and answer from the last brain teaser, please view the NISS
News section
here.
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