An important compliance task for insurance companies is determining if a type of vehicle, class of registration, or insurance policy type that it writes is required to be reported to a state's program. Once a policy or vehicle is determined to be included in the reporting requirements then the data has to be gathered, formatted properly and queued for transmission to the state agency. Further, an audit trail or log of the transactions taking place, both outbound and inbound, should be easy to obtain and should be actionable.
The FergTech staff specializes in automobile financial responsibility compliance laws of each state and has tailored our AutoIDweb software to work closely with available reporting systems.
AutoIDweb can capture all of the data needed to report to each state and keep audit trails of the reporting process, including any errors generated as part of the process.
Contact FergTech sales to discuss your specific needs and we'll work to find the right solution for your company.