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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.

RRDMWG OpenIDL is inviting you to a scheduled Zoom meeting.


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https://zoom.us/j/97302810980


Meeting ID: 973 0281 0980

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Meeting ID: 973 0281 0980

Find your local number: https://zoom.us/u/aff6Fp5v1

Attendees

Agenda/Discussion items

TimeItemWhoNotes
5IntroductionsCompanies, New people
5Agenda/Anti TrustPeter Antley
60ClaimDale Harris

30DriverPeter/Kensee page 2 of vehicle file. 
15VehiclePeter

5ClosingPeter

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


GMT20220121-180250_Recording (3).m4a




Action items

  • peter antley  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  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


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