Navigating Mandatory Experience Reporting for Principles-Based Reserves
The new life insurance experience reporting regulations for principles-based reserves are part of a fundamental reshaping of insurance regulation that allows the industry to modernize statutory reporting and reserving. But in order to realize the benefits of modernization, companies must comply with new regulatory experience reporting requirements.
MIB Solutions is uniquely suited to assist insurance companies in complying with mandatory experience reporting as required by your state insurance department. As the appointed statistical agent for the New York Department of Financial Services (NYDFS) and the Kansas Insurance Department (KID), MIB Solutions has the methods, processes and technologies in place to efficiently streamline accurate statistical reporting of your company's experience data to the respective regulator. Our capabilities have been developed over decades of similar industry experience reporting and through collaboration with regulators and industry representatives on addressing statistical agent issues in life insurance and related lines of business.
In addition to strong familiarity with relevant regulations, MIB Solutions maintains a clear understanding of the needs of companies to meet their compliance goals in this changing regulatory environment.
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