Weekly Tip: Using SERFF Template to Minimize Manual Data Entry


Weekly Tips

Using SERFF Template to Minimize Manual Data Entry


Spending too much time and too much data entry in completing the Statement of Intent (SOI) Schedule of a mix and match filing? The Insurance Compact and SERFF have released a new tool for quickly and seamlessly populating a SOI Schedule. It starts with formatting your SOI information into a preformatted Excel spreadsheet which can be found in the Compact's General Instruction, on the Insurance Company Resources page of the website, or in the SERFF Online Help along with step-by-step instructions. The Insurance Compact leverages SERFF's Template functionality to allow companies to upload an entire Excel file into the SOI Schedule of a Compact filing.

Companies that have used this new feature have been pleased with the time savings and dramatic reduction in manual data entry. Filers must use the preformatted Excel spreadsheet and can even program their back-office system to populate the spreadsheet. Another convenient feature is that once saved as a Template, the SOI Excel Template may be uploaded into a filing's SOI Schedule even if it contains a state(s) not included in the filing - only information pertaining to the Compacting States included in the filing will be imported. Further, filers can upload from more than one SOI Excel Template into an SOI Schedule.

Are you only needing to upload one row or several rows from a template? The SERFF functionality for Compact filings also allows filers to add single or multiple rows of SOI information for one or more states as well as copy rows to minimize repetitive data entry.

Please use the Preformatted SOI Excel Spreadsheet and refer to the Statement of Intent Template Instructions. An online tutorial will be released soon to assist with the step-by-step process as well as provide background regarding mix and match. Please note that the ability to use the Preformatted SOI Excel Spreadsheet is currently available in the creation and submission of an Insurance Compact filing and not available post-submission.

This new tool is intended to help ease the amount of time and effort associated with data entry and to enhance the accuracy of the information in the SOI Schedule. Accuracy and completeness of this information is very important as Compacting States use the SOI Schedule to understand what state-approved forms are being used with the Compact-approved forms. Filers are encouraged to insert detailed information about the state-approved forms and use "not available" sparingly and only when necessary. Compacting States have read-only access to Insurance Compact product filings and may review the SOI Schedule for completeness and accuracy for their specific state information. Compacting States may follow up with the Insurance Compact and the filer if they have questions or need further clarification regarding state-specific information in the SOI Schedule.

If you have any questions in using the SOI template tool, please do not hesitate to contact the IIPRC Office or the SERFF Help Desk.

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