CONTACT:
Marc Goodman
UBmatrix
425-285-0200
The National
Association of Insurance Commissioners (NAIC) selects UBmatrix for XBRL training
and taxonomy development
KIRKLAND, WA – May 16,
2005 – UBmatrix, the leading provider of
solutions based on XBRL, the global standard for automated business reporting
and analysis, announced today that The National Association of Insurance
Commissioners (NAIC) has selected UBmatrix to provide technical
UBmatrix will work with the NAIC to
develop a XBRL taxonomy methodology; develop a limited insurance statutory XBRL
taxonomy, and use the taxonomy to produce XBRL instance documents for a subset
of insurance company financial data. UBmatrix has been hired to mentor and train
NAIC’s business and technical staff and provide business and technical
assistance and guidance to the NAIC during the Project.
The NAIC is a voluntary
organization of the chief insurance regulatory officials of the 50 states,
the
UBmatrix provides software and
services that address the problems and challenges inherent within enterprise
business reporting. Our products are based on XBRL, a global standard that
automates and streamlines the processes and workflows of business reporting.
Information can easily be shared and repurposed in a consistent electronic
format across systems and applications. Reported data can be quickly found,
easily compared, validated and analyzed in more sophisticated
ways.
UBmatrix
has a family of products that are built into enterprise IT infrastructure to
enable a holistic approach to integrating enterprise-wide data sources, and
provide more accurate, streamlined and compliant business reporting systems.
This also extends business reporting, by enabling users to create reports in
virtually any format such as PDF, HTML, Word, Excel and other applications that
capture and analyze data. This capability enables a high return on investment
because it uses a global standard language that maps the data to a single
metadata structure. This provides corporations with an enterprise-wide data
model that describes where the data resides, allows business rules to be
applied, and adds important context to the data. The data can now be validated
to ensure accuracy, while the information remains tied to the data source to
retain a “who, what and when” audit trail for
compliance.
UBmatrix has been committed to XBRL since 1998, credited
as the originators of XBRL, and recognized worldwide for its vision, technology
and customer commitment.
The company is headquartered in
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Marc
Goodman
UBmatrix
Director of
Marketing
Phone #
425-285-0200
Fax #
425-285-0299
www.ubmatrix.com