2022-1-21 Meeting Agenda
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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Meeting ID: 973 0281 0980
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Meeting ID: 973 0281 0980
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Attendees
@Megan Ebling
@Harris, Dale
@George Bradner
@Ken Sayers (Deactivated)
@Chudwick, Susan R
Andy Case
@Ash Naik (Deactivated)
@Dominique Miller (Deactivated)
Kevin Petruzielo (The Hartford)
@Kristin McDonald (Deactivated)
Libby Crews
@Lori Dreaver Munn (Deactivated)
@Peter Antley (Deactivated)
Peter Weinstein
@Ruturaj Waghmode (Deactivated)
@Ryan Blakeney
@Sandra Darby
@Sean Bohan
@Eric Lowe
Agenda/Discussion items
Time | Item | Who | Notes |
|---|---|---|---|
5 | Introductions | Companies, New people | |
5 | Agenda/Anti Trust | Peter Antley |
|
60 | Claim | Dale Harris | |
30 | Driver | Peter/Ken | see page 2 of vehicle file. |
15 | Vehicle | Peter | |
5 | Closing | Peter |
|
Minutes
Anti Trust Read
Review Agenda
Review of Attributes for the claim- Dale Harris
Two sections- Claim Identifier & Claim Activity
Claim Identifier
Yellow highlighting is from Eric’s file
Policy number
Policy effective date
We may use the same policy number for multiple years
Claim identifier/number
Vehicle Identification Number
Driver
Might want to add the license number
Cautious of personal identification out to the world
Can create an index
Could be in harmonized claim storer but, we don’t have to share
Accident date
Cause of loss
CAT Identifier
Claim location zip code
Where did the incident occur
Fatality indicator
Subrogation- Loss
Subrogation-LAE
Other considerations
Fault vs not at fault
Table for now and come back to it
Claim Activity
Claim Number
Claim date would be under Claim Number
What coverage for the activity
Liability
BI
Uninsured motorist
Activity date
If a payment is being made and when the payment occurs
The date that the change is being made
Incurred loss
Incurred loss adjustment expense
Incurred loss expense
Paid loss
Paid LAE
Claimant identifier
Determined we would like to keep
Denied claims (a topic we can come back to and discuss)
Denied claims is a topic we will have with all lines of business
Captured in the claim identified
Futuristically it would be something that we would want to know
With respect to stat reporting, it is not captured currently
Claim status connotation
Subrogation- loss
Subrogation- LAE
Recaps on policy—policy includes vehicle, drivers, its holistic
All activity is captured- every time there’s a change it’s captured
Coverages, driver information, all changes captured
All on Eric’s old list that Peter was working on
Clue reports/Carfax/Equifax
Has to do with the individual
Carfax-information is coming from the different shops where the repairs are being done (whole other discussion, decided to table)
Review Driver- Peter Antley (what to include or exclude)
Name
Policy effective date
Diver’s license number
Age- want
Might not want to capture- issue date, class, restrictions, expiration date
License year
Carriers- We don’t capture
Optional fields
Garage address
Employment status- not needed
Some carriers capture
Endorsements
Mobile number and email
Might be in the company records but, do not need
Any additional topics
Coverages
Recording
Action items
@Peter Antley (Deactivated) to put policy effective date, transaction effective date, from Eric original report
For next week—do a quick overview of what we’ve done that past few weeks
@Peter Antley (Deactivated) to condense everything into 1 document and send out to everyone to look at and provide notes on for next week- to send out by Wednesday (1/26) EOD