Farragut Has Helped Carriers Ease the Burden of USR Reporting
Carriers have struggled with the manual unit statistical reporting process. Significant manual effort can be required in fusing a policy’s exposure data stored in one system with related loss data stored in a separate claims system. Often data is keyed into spreadsheets manually before submitting the unit statistical report to the independent bureaus. This is a time-consuming process prone to errors.
The USR Builder provides functionality to search, view and create corrections and subsequent USRs with the click of a button.
How the Tool Can Assist
The tool helps carriers speed up the reporting process and provide high quality unit reports. Files are properly formatted. The innovation has assisted in that no claim data requires rekeying. It also allows files to be established for the subsequent years, again with no rekeying.