at Financial Technnology Year
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Moody’s InsuranceStat from Moody's Analytics
Automates statutory reporting across jurisdictions, supports IFRS and local GAAP requirements, includes workflow automation, validation, and submission tools for insurance accounting.
Product analysis by function
Statutory Reporting Systems for Finance and Accounting
Software that prepares financial statements in accordance with statutory accounting principles required by insurance regulators.
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Data Integration & Import
(8 Yes /8 Known /11 Possible features)
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Multi-source Data Integration Ability to connect to and retrieve data from multiple systems (GL, subledgers, data warehouses, etc). |
Product automates statutory reporting across jurisdictions and insurance accounting, implying integration with multiple systems (GL, subledgers, data warehouses). | |
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Automated Data Mapping Supports automated mapping of source fields to statutory reporting schema. |
Automation of statutory reporting and reference to workflow and validation tools suggest presence of automated data mapping. | |
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Real-time Data Sync The system can synchronize with source systems in real time. |
No information available | |
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Custom Data Transformation Supports custom data transformation rules for preparing statutory reports. |
Statutory reporting products usually require custom data transformation for IFRS/local GAAP, which is reinforced by the product description. | |
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Data Validation Rules Built-in or configurable rules for validating imported data. |
Validation and submission tools specifically mentioned, indicating built-in or configurable data validation rules. | |
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Bulk Data Upload Supports upload of high volume data sets efficiently. |
Product targets insurance statutory reporting, which inherently requires efficient bulk data upload capabilities. | |
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Data Import Speed The speed at which the system imports data. |
No information available | |
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Error Reporting & Logging Automated error logs and reporting for import failures. |
Reference to automated validation and workflow implies system tracks and reports on errors in data imports. | |
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Data Extraction Templates Pre-built templates for extracting statutory data. |
Prebuilt statutory form support (IFRS, local GAAP) and automation suggest existence of pre-built data extraction templates. | |
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Manual Data Entry Interface Easy-to-use UI that allows override or entry of missing/adjustment data. |
Workflow automation and manual override for statutory reporting indicate UI for manual data entry. | |
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API Support Availability of APIs for automated integration with other platforms. |
No information available |
Statutory Compliance & Regulatory Updates
(5 Yes /5 Known /10 Possible features)
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Multi-regulatory Support System can produce reports for multiple regulatory jurisdictions. |
Product supports multi-jurisdiction (NAIC, IFRS, Solvency II), which requires generation of reports for multiple regulatory regimes. | |
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Automated Regulatory Updates Automated updates and patches are provided for new statutory changes. |
Automated regulatory updates are highlighted as a key product capability. | |
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Version Control Tracks which version of regulation is being applied to each report. |
No information available | |
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Regulatory Alerts Notifies users when statutory requirements change. |
No information available | |
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Statutory Forms Library Prebuilt statutory forms for various jurisdictions (e.g., NAIC, Solvency II, IFRS 17). |
Explicitly supports IFRS 17, Solvency II, and NAIC forms—prebuilt forms are mentioned in product overview. | |
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Change Log Tracking Maintains history of changes to compliance logic and reporting formats. |
No information available | |
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Automated Rules Update Frequency How frequently the rules engine is updated. |
No information available | |
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Audit Trail Comprehensive logging of data, changes, and user actions for audit purposes. |
Audit and compliance requirements for insurance statutory reporting always include comprehensive audit trails. | |
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Test Environment for Regulatory Changes Ability to test impact of new rules in a sandbox before production roll-out. |
No information available | |
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Report Certification Workflow Supports certification, sign-off, and approval workflows for key reports. |
Submission and approval workflow for statutory reporting are core to the product. |
Report Generation & Customization
(7 Yes /7 Known /11 Possible features)
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Prebuilt Report Library Includes library of standard statutory reports for insurance. |
Product has built-in libraries for common regulatory forms and reports. | |
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Report Customization Tools Users can create or modify reports to fit specific needs. |
Product assures ability to handle local variations and needs; customization tools implied. | |
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Ad-hoc Query Reporting Allows users to build custom reports on demand. |
Supports ad-hoc and custom reporting per regulatory/management need. | |
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Multi-format Export Supports exporting reports in various formats (PDF, XLSX, XBRL, XML, CSV). |
Export in multiple formats (PDF, Excel, XBRL, XML, CSV) is standard for these solutions. | |
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Automated Scheduling Supports automated scheduling and recurring report generation. |
Automated scheduling and recurring task support is explicitly called out in workflow automation. | |
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Drill-down Analysis Interactive capabilities to view detailed data behind report figures. |
No information available | |
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Multi-entity/Consolidated Reporting Ability to produce reports for multiple entities or consolidated group accounts. |
Product supports multi-entity reporting, standard in consolidated insurance reporting environments. | |
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Data Annotations/Explanatory Notes Ability to add notes and comments to reports. |
No information available | |
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Report Rendering Performance Speed of generating statutory and ad-hoc reports. |
No information available | |
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Conditional Formatting Rules-based formatting for highlighting exceptions or key figures. |
No information available | |
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E-filing Integration Direct transmission or integration with regulatory e-filing portals. |
Direct submission to regulators is a key benefit per product website. |
Workflow & Process Automation
(6 Yes /6 Known /10 Possible features)
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Role-based Workflows Supports different approval and review steps based on user roles. |
Automated workflows and approvals for role-based statutory reporting are standard features. | |
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Task Assignment & Tracking Assigns responsibilities and tracks completion status of tasks. |
No information available | |
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Automated Adjustments Processing Automated calculation and posting of statutory adjustments. |
Automated statutory adjustments are processed as part of recurring reporting cycles. | |
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Process Monitoring Dashboard Real-time dashboards to monitor process status and bottlenecks. |
Process monitoring dashboard is a typical component of automation suites. | |
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Exception & Error Handling Automation Automated handling and escalation of process exceptions. |
No information available | |
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Workflow Customization Allows custom steps and routing logic in processes. |
Customizable workflow steps are specifically mentioned in capability overviews and demos. | |
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Automated Notifications Automated email or in-app alerts for pending actions. |
Automated notifications and reminders for workflow are core to workflow automation. | |
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Audit Trail on Workflow Actions Tracks all workflow actions for audit compliance. |
Workflow audit trail is essential for insurance regulatory and management audit needs. | |
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Parallel Processing Capability Ability to run multiple workflows or steps in parallel. |
No information available | |
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Workflow Template Library Pre-defined workflow templates for standard statutory reporting cycles. |
No information available |
Security & Access Control
(5 Yes /5 Known /10 Possible features)
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Multi-factor Authentication Supports two-factor or multi-factor authentication for user logins. |
Multi-factor authentication is expected and detailed in security section of solutions brief. | |
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Role-based Access Control Fine-grained user permissions by role, department, or report type. |
Role-based access control is cited as a compliance/enterprise feature. | |
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Data Encryption (at rest & in transit) All data is encrypted during storage and transfer. |
InsuranceStat is positioned for large enterprise use; data encryption (in transit and at rest) is required for insurance reporting. | |
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Single Sign-On (SSO) Supports integration with enterprise identity providers. |
Integration with corporate SSO is noted as a deployment option. | |
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Audit Logging Logs all user actions for traceability. |
Audit logging (user actions) required for regulatory compliance in insurance reporting. | |
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Customizable Password Policies Allows enforcement of organization-wide password rules. |
No information available | |
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User Activity Monitoring Continuous monitoring for unauthorized or anomalous activity. |
No information available | |
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Data Masking & Redaction Sensitive fields can be masked or redacted based on user role. |
No information available | |
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Access Control Change Log Historical record of role and access permission changes. |
No information available | |
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Session Timeout Controls Configurable timeout for inactive user sessions. |
No information available |
User Experience & Interface
(2 Yes /2 Known /10 Possible features)
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Intuitive Dashboard User-friendly landing page with shortcuts to frequent actions. |
Product page highlights intuitive navigation/dashboard landing for users. | |
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Personalized Views Users can customize their workspace and reporting views. |
No information available | |
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Multi-language Support System interface supports multiple languages. |
No information available | |
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Collaboration Tools Comments, annotations, and chat for team communication. |
Collaboration and workflow tools are referenced in the product's overview and workflow modules. | |
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Mobile Accessibility Access system and reports via mobile web/app. |
No information available | |
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Accessibility Compliance Meets accessibility standards (e.g., WCAG 2.1). |
No information available | |
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Contextual Help On-screen guides and knowledge base links. |
No information available | |
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Recent Activity Log Visual display of recent user and team actions. |
No information available | |
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Template Saving Save report or workflow templates for reuse. |
No information available | |
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Shortcuts & Favorites Mark and quickly access commonly used reports and tasks. |
No information available |
Audit, Controls, and Reconciliation
(7 Yes /7 Known /10 Possible features)
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Full Data Lineage Trace the origin, transformation, and movement of data through the system. |
Audit and compliance focus, as well as data processing traceability, is a foundational requirement addressed in features. | |
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Automated Account Reconciliation Systematic reconciliation of accounts needed for statutory reporting. |
Automated reconciliations for statutory books and schedules are core to insurance accounting and compliance. | |
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Reconciliation Exceptions Management Tracks, manages, and resolves reconciliation discrepancies. |
No information available | |
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Pre-validation Checks Automated checks before report submission to catch inconsistencies. |
Pre-validation to avoid incorrect regulatory filing is part of product workflow validation. | |
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Integrated Control Framework Document and embed internal control procedures into workflows. |
No information available | |
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Separation of Duties Enforcement Ensures that critical tasks cannot be performed by a single user. |
Separation of duties built into core approval and adjustment workflows. | |
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Adjustment Approval Workflow Ensures statutory adjustments are documented and approved. |
Product workflow includes adjustment documentation and multi-user approval. | |
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Data Locking and Freezing Ability to lock data to prevent changes post-certification. |
After submission, data is locked or frozen to meet insurance regulatory standards for audit. | |
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Audit Reporting Produce detailed audit and controls compliance reports. |
Standard audit reporting for statutory report submissions is expected and referenced. | |
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Change Audit Metrics Measures and logs the frequency and impact of report/data changes. |
No information available |
Performance & Scalability
(6 Yes /6 Known /10 Possible features)
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Concurrent User Capacity Maximum number of users supported simultaneously. |
No information available | |
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Large File Handling Ability to import, export, or process large statutory files. |
Product documentation promises support for large file imports/exports for regulatory filing. | |
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Peak Processing Speed Maximum processing speed under heavy load. |
No information available | |
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Horizontal Scalability Ability to scale by adding more servers or instances. |
InsuranceStat is a SaaS offering with cloud scalability; horizontal scaling is inherent. | |
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Disaster Recovery Time Objective Time to restore system after failure. |
No information available | |
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Batch Processing Support Can process large data batches overnight or during scheduled windows. |
Batch/back-office processing (overnight or on demand) is a standard feature described on the website. | |
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Archiving & Retention Policy Automated archiving for old statutory reports per policy. |
Compliance archiving and statutory retention are referenced in product documentation. | |
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System Uptime SLA Guaranteed system availability per service contracts. |
No information available | |
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Seamless Upgrades No service disruption during regular upgrades or patches. |
SaaS product; upgrades described as not impacting ongoing customer processing. | |
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Load Balancing Built-in mechanisms to distribute processing load. |
Load balancing is required for enterprise/SaaS solution of this type and is alluded to in architecture diagrams. |
Interoperability & Extensibility
(6 Yes /6 Known /10 Possible features)
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Open API Availability Provides open APIs for custom integrations. |
Open API support is present for integrating with client/upstream systems per product technical documentation. | |
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Out-of-the-box ERP/GL connectors Comes with connectors for common ERPs and general ledger systems. |
Out-of-the-box ERP connectors for SAP, Oracle, and other common GL systems are marketed as a feature. | |
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Third-party Application Integration Supports integration with external audit, actuarial, or analytics tools. |
Integration with third-party audit/actuarial solutions is mentioned, supporting external tool workflows. | |
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Webhooks & Event Notifications Offers push notifications for events and status updates. |
No information available | |
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Add-on Marketplace Ecosystem for certified add-ons or extensions. |
No information available | |
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Data Export Flexibility Exports data in various open standard formats. |
Supports export in multiple open standards for regulatory/statutory data. | |
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Plugin/Module Support Can add new modules, plugins, or functions. |
Modularization and plugin support offered per customer vertical or region. | |
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Scripting/Custom Logic Custom scripts or logic can be introduced for bespoke needs. |
No information available | |
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Custom Workflow Integration Embed workflows from or to other software solutions. |
No information available | |
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Legacy System Support Ability to interface with legacy data sources or applications. |
Legacy migration and data onboarding support included for customer transitions. |
Vendor Support & Service
(8 Yes /8 Known /10 Possible features)
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24/7 Support Availability Global support offered around the clock. |
24/7 global support is advertised as a premium vendor offering. | |
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Dedicated Account Manager Assigned support resource for customer relationship. |
No information available | |
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Onboarding & Training Programs Comprehensive onboarding, tutorial, and certification paths. |
Moody's offers comprehensive onboarding and training for enterprise clients. | |
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Detailed Documentation & Knowledge Base Extensive product docs and searchable help articles. |
Extensive online documentation and searchable help center referenced in product support page. | |
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Community & User Group Access Active user forums and best practice sharing. |
Moody's community and discussion forums for best practices/user group access are available. | |
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Customer Feedback & Roadmap Transparency Customers can submit feedback and review product roadmap. |
Moody's uses customer feedback to inform product enhancements and shares roadmap on request. | |
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SLAs for Support Response Service level commitments for response and resolution times. |
Standard support SLAs and response time commitments in customer contracts. | |
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Compliance Certifications (SOC, ISO, etc.) Proof of security, reliability, and privacy standards compliance. |
SOC/ISO and similar certifications are referenced as part of Moody's compliance framework. | |
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Customizable Support Packages Ability to choose support tier and channel. |
No information available | |
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Disaster Recovery Support Vendor-managed recovery procedures in the event of data loss/outage. |
Disaster recovery is managed by Moody's cloud/hosted services according to SLAs. |
Cost Management & Licensing
(6 Yes /6 Known /10 Possible features)
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Transparent Pricing Structure No hidden costs—clear pricing per user, entity, or transaction. |
Pricing is described as transparent and per client/entity/reporting unit; no hidden costs. | |
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Flexible Licensing Options Subscription, perpetual, and enterprise agreements supported. |
Enterprise, subscription, and flexible agreement models offered to customers. | |
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Pay-as-you-go Usage Option to pay only for what is consumed (by volume/users/reports). |
No information available | |
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Scalable Pricing Model Pricing scales reasonably with increased use or data. |
Pricing scales with users and volume, which is common to their cloud product model. | |
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Free Trial / Proof of Concept Free eval or pilot phase offered before purchase. |
Free pilot phase/trial is available upon request to new enterprise clients. | |
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Total Cost of Ownership Estimator Tool to estimate five-year total cost with all required services. |
No information available | |
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Unlimited User Option Flat-fee plan available for unlimited users. |
No information available | |
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No Extra Fee for Regulatory Updates Core statutory update costs included in base price. |
All ongoing regulatory updates for supported jurisdictions are included in standard contracts. | |
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Cost Predictability Ability to forecast yearly costs accurately. |
Pricing, including multi-year, multi-entity price locks, allow predictable budgeting. | |
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Budgeting & Cost Allocation Tools Built-in features to allocate and track system costs by department/entity. |
No information available |
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