Case Study: NAIC Top-25 Insurance Company achieves 75% faster statutory report preparation and review with Workiva

Workiva transforms statutory reporting for a prominent insurance corporation

A top-25 NAIC insurance company with 22 legal entities and multiple lines of business was struggling with a disorganized, manual statutory reporting process. A seven-person team produced 22 quarterly reports and nearly 800 footnotes by stitching together desktop word and spreadsheet files from about 30 input providers, creating version-control, formatting, and collaboration problems—costing hundreds of hours of formatting and review time—when a new CPA director stepped in to fix the process.

The director implemented Workiva’s Wdesk (with consulting help) to centralize, link, and cloud-enable reporting, quickly training the team and replacing manual file handling with a single, repeatable workflow. The change cut report preparation and review time by 75%, freed more than 1,000 hours for value-added work, eliminated an $80,000 temporary resource, redeployed one full-time role, and greatly improved data integrity, continuity, and collaboration.