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):
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:
4. Agency Commission Income is calculated
and reported based either on sales or premium receipts. Three
reports are sampled:
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
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:
NOBL system currently generates more than
75 production and financial management reports.