Madison Consulting Group offers the benefits of experience, reputation, resources, stability and national perspective. We distinguish ourselves from other consulting firms in our management structure. That is, senior members of the firm are involved in all phases of assignments. Responsibility for projects is not assigned to staff personnel.
We provide a complete range of independent property casualty consulting services to regulatory agencies, insurance companies, self-insurance programs and, law firms. These services include:
Loss reserve analysis and statements of opinion
Rate analysis or review
Expert testimony on actuarial matters in regulatory hearings, contract arbitrations or legal disputes
Competitive and other analysis of market conditions
Statistical analysis of insurance policies and claims
Funding analysis for self-insurance programs
Evaluation of a company's actuarial procedures
Workers Compensation Policy Issuance and Unit Statistical Services
We offer policy issuance reporting and unit statistical reporting services in all jurisdictions. This means that client involvement can be limited to oversight of our activities (communicated via progress reports), intervention with data providers (i.e., TPAs, MGAs) when we identify serious problems (e.g., non-reporting of data, persistent data problems, lack of policy audits, etc.), and assistance in reconciling data to the carrier’s accounting data.
Workers Compensation Financial Call Reporting Services
We offer compliance reporting services for workers compensation services beyond policy issuance and unit statistical reporting including medical data calls, as well as NCCI and independent bureau quarterly/annual financial calls. In most cases, we are able to complete these latter calls (as well as other miscellaneous reports) by compiling the data we collect for unit statistical reporting purposes.
Non Workers Compensation Statistical Reporting Services
Similar to Unit Statistical reporting, we offer statistical reporting services for non-workers compensation including ISO, MA CAR, AAIS, NISS, TICO, SAA and TCLSP.
We offer DMV reporting to the various state DMVs. This typically involves collecting and compiling commercial and personal auto liability data for insurance companies, underwriting agencies and other data providers and submitting that data electronically to the appropriate department.
Rate and Form Filing
In addition to actuarial analysis necessary to develop rates and prepare a rate filing, MCG offers the administrative services required to prepare and submit regulatory rate and form filings. MCG offers complete service from preparation of all of the documentation necessary to submit the filing, providing any additional information required by the regulators to secure approval and maintenance of a file. We will also scan all filing documents into an electronic format and provide to clients.