At most insurance companies, the collection and processing of daily NAV data is a highly labor-intensive, manual process which is prone to errors and unnecessary costs. With its new NAV Data Service, Cicada's experienced data management team performs the data collection and quality assurance work, using a reliable, highly accurate and cost effective process.

Firms using the service receive daily pricing and dividends reports, as well as gain/loss data on the funds the firm specifies, in the format desired by the firm. The data is processed through Cicada's proven quality control methodology, which creates for the client an accurate database of pricing information, backed up by original pricing sheets and Cicada analyst data entry sheets for compliance and audit trail purposes.

Cicada has maintained an accuracy rate of 99.99% since the service's inception, which represents a significant improvement in quality for most firms and minimizes the need for repricing.

In addition, Cicada conducts internal audits every six months to continually monitor the integrity and effectiveness of its quality assurance and compliance processes. The company also conducts annual audit meetings with each client to support their Sarbanes-Oxley and Rule 38A compliance programs.

One of the world's largest insurance companies has been using the service as a charter client. Based upon the results in live production, Cicada is making the service available to the wider market as a proven solution for increasing the accuracy and cost-efficiency of the essential NAV data collection process.