IT Technology Summary

The IT Technology Summary is an automated exam-planning tool that focuses on the statement balances of key business processes. The summary includes a list of annual statement line items and their balances and functions that are representative of key activities. The report generates a downloadable excel file.  Not every line item on the summary will need to be used for every company. The examiner should tailor the IT Technology Summary for each individual company. It is important to request only the information needed for the company under examination. 

The IT Technology Summary is an optional tool available from iSite+. It can be found in Company/Firm Search on the Categories page under the Examination category. The summary is Annual Statement data year dependent. Set the data year as desired. The previous year-end data will not be available until after the March 1 Annual Statement deadline. Therefore, you may want to wait until after March 1 to populate the Technology Summary and send it to the company.

After the examiner has tailored the IT Technology Summary and the examiner submits the summary to the company for completion. The company will be responsible for listing the computer applications that generate the reports or maintain that particular data, identifying the portion of the balance that is supported by the application listed, the computer reports which support the balance and providing a list of data files used by the application to generate the balance. The summary also includes key activities which are not directly reflected in annual statement balances, i.e. underwriting, cash receipts, cash disbursements, and actuarial. The company is responsible for listing the applications used to perform these functions and key reports generated. Scroll the report to the right to view additional columns. Several cells in the spreadsheet include comments for assistance.  Mouse-over the cell to view the comments.

The information returned by the insurance company in the Technology summary should be used as a starting point in considering the data to be requested in Exhibit X – Standardized Data Request Templates.