NOBL REPORTING SYSTEM

These notes are intended to help the reader understand the NOBL reporting system.

1. NOBL technology is policy-driven. All systems currently on the market are invoice-driven. They are all GL accounting-based. Policy-driven management is consistent with insurance industry’s product definition. Insurance policy is insurance industry’s product. Everything revolves around the policy: underwriting, premium quote, payments, endorsements, claims, etc.

Policy financial solvency must be also policy-based. Policy financial solvency is a fiduciary mandate. To manage a policy financial solvency a policy-driven accounting system was developed. NOBL technology is founded on a new accounting system hereon referred to as Trust Ledger (TL) accounting. TL Accounting is different from General Ledger (GL) accounting. All financial solvency reports are generated at the policy level. Financial data are then aggregated to report the solvency of insurance carriers or agency premium funds.

2. Consistent with the policy-driven management concept, the NOBL system generates Account Details in non-accounting format for agency managers, CSRs and accounting personnel. Included on the website are the following samples of Account Details (click on them to display):

• Policy Premium (verifies transacted premium structure and its distribution)
• Billing Detail (tracks policy billing and payments)
• Bank Deposits (tracks bank deposits of payment checks)
• Agency Commission (tracks agency earned commission transfer to the operating account)
• Co. Remittance (tracks company remittance)
• Return Premium (tracks return premium generated by endorsements or final audits)
• Direct Bill (DB) Commission (tracks agency DB commission)

3. Financial Solvency Statements include only premium funds; they are separate from the agency financial statements (P&L Statement and Balance Sheet). By generating separate trust account financial statements, the NOBL system enables agencies to protect the confidentiality of their financial statements. The following reports are sampled:

• Solvency Analysis
• Balance Sheet (premium assets and liabilities only)
• Statement of Premium Receipts & Disbursements (determines premium float and verifies the solvency of trust bank account cash balance)
• Premium Funds Beneficiaries Statement (determines the owners of the trust account cash balance)
• Audit Trails, (samples TL 101, TL 210)

4. Agency Commission Income is calculated and reported based either on sales or premium receipts. Three reports are sampled:

• Agency Commission Income (based on sales)
• Agency Commission Graph
• Monthly Statement of Agency Commission & Fees (based on premiums invoiced, payments and return premiums)

5. To help the agency write producer commission checks, NOBL calculates and reports Producer Commission by policy, by premium item; it also separates agency bill accounts from direct bill accounts. Only one report is sampled:

6. Agency production is reported to help managers analyze the agency performance between specified dates, by producer, CSR, or carrier, agency bill vs. direct bill ratio, etc. Two sample reports are included:

• Production Report (including separate reporting for agency bill and direct bill accounts, reports by producers, by CSRs, by carrier)
• Production Graph
• Agency Bill vs. Direct Bill Graph

NOBL system currently generates more than 75 production and financial management reports.