We understand your need to manage the ever changing regulatory reporting requirements and feel confident in the numbers your finance and compliance teams produce. The NIIT Insurance Technologies Financial Solution (RFS) will make it quicker and easier for you to confidently produce your financial reports. It simplifies the processes required to produce your financial views and facilitates the production of fully reconciled financial reports at all levels of granularity.

NFS is a proven financial reporting system that will:

• Guarantee that all financial views will reconcile
• Give you confidence in your financial data
• Enable you to easily generate financial views at any level of detail required
• Guarantee the seamless integration and alignment of financial data in your policy administration systems and corresponding ledgers
• Provide enriched information for the executive and finance teams
• Cut the cycle times for period end closes including the production of all monthly, quarterly and annual regulatory returns
• Assist in the generation of management accounts and ad hoc analysis

Multinational Operations

For multinational operations, RFS generates all the data needed to support the production of regulatory returns for the jurisdiction in which you operate, as well as the cumulative return for the jurisdiction in which your parent company is domiciled. It is currently used to support statutory and regulatory reporting in the UK, the US and Bermudan markets.

Designed for Insurance Data

The RFS engines have been designed to enable you to deal with diverse commercial insurance business models, including those using any combination of:

• Direct or broker channels
• Service companies
• Delegated authority
• Cover holder arrangements

RFS provides an effective way of managing the subtleties arising from the working practices in bureau-based subscription markets.

Find out more about RFS or contact us to speak to a member of our team about our financial reporting software.