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Unique among financial institutions, insurance companies have their own set of business and reporting requirements. As a result, they require specialized reporting services.
Through INFORM, such clients can gather data to assist with the preparation of Schedule D, monitor assets set aside to ensure Insurance Trust requirements are met, and view segregated accounts established to meet various statutory deposit regulations.
Assistance with Schedule D
INFORM's reporting flexibility enables clients to extract portfolio data in order to integrate with their internal accounting systems. With INFORM providing this data in an automated fashion, clients are able to satisfy the specialized reporting and accounting requirements unique to insurance companies, such as Schedule D.
Portfolio Valuation Monitoring for Insurance Trusts
For those insurance companies that are not authorized to do business in a particular state, trust funds in the form of securities and cash are established so they can conduct reinsurance or other business under the regulations of that state. For these clients, INFORM enables them to access reports detailing activity and information related to transaction settlement, portfolio servicing, market valuation, funds management and performance measurement/analytics.
Statutory Deposits
A number of state insurance departments allow insurance companies to select a custodian of choice for their statutory deposit custody accounts. For these special accounts, client can access reports and initiate inquiries through INFORM. As a result, INFORM's flexibility allows clients to create a consolidated report of all their state deposit portfolios.
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