Date
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This is a weekly series for The Regulatory Reporting Data Model Working Group. The RRDMWG is a collaborative group of insurers, regulators and other insurance industry innovators dedicated to the development of data models that will support regulatory reporting through an openIDL node. The data models to be developed will reflect a greater synchronization of data for insurer statistical and financial data and a consistent methodology that insurers and regulators can leverage to modernize the data reporting environment. The models developed will be reported to the Regulatory Reporting Steering Committee for approval for publication as an open-source data model.
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https://zoom.us/j/98908804279?pwd=Q1FGcFhUQk5RMEpkaVlFTWtXb09jQT09
Meeting ID: 989 0880 4279
Passcode: 740215
Dale Harris
Ken Sayers
Sean Bohan
Jefferson Braswell
Nathan Southern
Lanaya Nelson
Hicham Bourjali
Jenny Tornquist
Brian Hoffman
Chudwick, Susan R
Kevin Petruzielo
Ash Naik
David Reale
Tim Glasby
Lori Dreaver Munn (Deactivated)
Michael Payne
Allen Thompson
Reggie Scarpa
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Meeting ID: 989 0880 4279
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I. Recap
A. PA: Pulled up the NAIC report for auto using 2010 data - w/columns including earned premium, comprehensive, liability. Key milestone for the group.
B. PA: Also working on a presentation to summarize work we've done. We got extraction pattern done just before new years.
C. PA: We finished homeowners as well. (Peter pulled up the report). Data here is fundamentally test data - all relatively the same.
D. Auto done in one year, homeowners done in a month
II. Moving Ahead - Determining Next Steps
A. SC asked if regulators have reviewed this w/a proper feedback cycle before we move on. PA: not as yet. Feels very confident that homeowners would satisfy them but with the caveat that it isn't at this stage yet (to show them) because data is so far behind.
B. PA: two lines done so far - would like his intern to work on another line of insurance next.
- SC noted that any line we move to next would be commercial.
- JT: lines that get reported to NAIC: homeowners, farm owners, marine, mobile home owners (perhaps too small), the artisans (personal only).
- SC: suggested commercial auto; PA asked if there are key differences. SC noted that auto - uniquely, among lines - does have some differences from personal auto.
- PA: our intern is queued up and ready to go
- DH: suggested choosing based on premium perspective - starting with largest and then working way down the list; this way mobile home would be last.
- Group discussed commercial auto and GL, as well as farmowners and commercial properties as options.
- Broad consensus that commercial auto should be next
- PA - will start on commercial auto Monday morning and have an update at next week's RRDMWG.
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