SOURCE: Eagle Technology Management, Inc.

Eagle Technology Management, Inc.

January 17, 2012 16:05 ET

ETM Introduces Market Conduct Annual Statement Service

Expands Wings Plus to Relieve Insurers of Even More Compliance Headaches

CEDAR RAPIDS, IA--(Marketwire - Jan 17, 2012) - ETM, developer of Wings Plus for financial reporting and tax compliance -- and UPExchange for unclaimed property reporting -- has added the Market Conduct Annual Statement (MCAS) to its Wings Plus platform. Forty-five states require the filing of an MCAS for insurers who write certain amounts and types of business in their states.

"This is yet another mandate with which insurers must comply," said Larry Kane, ETM's president. "As we do with all of our services, we'll stay up to date with the mandate's changes and evolution. We'll head off noncompliance penalties at the pass. We'll automate processing, report creation, and submission. And we'll let the insurers get back to work on the activities that make money and the services that keep policyholders happy."

Wings Plus ensures unified compliance by putting all NAIC financial-reporting data in a single database, with one set of numbers. From this single, collaborative reporting environment, each page of the MCAS can be saved as an Excel workbook, providing a familiar and powerful environment for capturing and calculating the report pages. Those workbooks are easily imported into the statement pages to simply and quickly complete the filing. Since all user and statement activity is logged, Wings Plus ensures auditable verification of who changed what, where, and when.

All printed and electronic data associated with the MCAS is stored in the Wings Plus library, the same location that houses all NAIC reporting data -- protected, indexed, and always available at the touch of a button. Wings Plus creates a single filing that includes data for all states, ready to upload to the NAIC's on-line MCAS application, eliminating the need for creation of multiple filings or manual entry.

About ETM
ETM is a Web-application-development firm that specializes in providing financial reporting and tax-compliance services. ETM is dedicated to financial processing and reporting, making its clients more efficient, consistently accurate, and uniformly compliant. Founded in 2001, ETM now serves more than 10,000 companies in automating the administration and filing of financial information to meet numerous regulated reporting requirements. For more information, please visit www.byetm.com, call (800) 975-3245, or e-mail sales@byetm.com.

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