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.
openIDL Community is inviting you to a scheduled Zoom meeting.
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I. Introductory Comments
A. Mr. Antley - welcome to everyone
B. Mr. Antley - Reading of LF Antitrust Statement
A. Mr. Antley - Recap
Shift from Mongo to PostgreSQL
We talked about test data set from Mr. Harris - great progress with premium records. Premiums loaded, calculated EP with PostrgreSQL setup. EP came out to same values that Mr. Harris made and his corresponding documentation
Next hurdle with PostgreSQL - working with the loss records. Loss records have been loaded over the last week into Postgres - we made a postgres table and loaded them.
First big milestone: producing outstanding records - i.e., how much money is outstanding. Records usu. released quarterly. One that is most important is the most recent outstanding when calculated.
'Valid records' - most recent record wrt occurrence that is also paired with coverage. We had a certain # of valid records. Also defined something called a 'Stale record' - i.e., an older record replaced with a newer record.
Wrt outstanding records - PA split groups up correctly with same number of valid and stale records. An issue where summing the amt of losses is producing aberrant results. PA handed this off to data engineer who indicated that he fixed it.
Last week - we discussed adjusting numerical precision, and having it set to 6. All code has been adjusted accordingly.
Also last week, we discussed the fact that postgreSQL didn't allow for camelcase for attribute names, so PA updated all of tables
We also talked in AMG about using 2 schemas in database - master scheme (openidl_base - raw transaction. records loaded here) - extraction pattern schema (openidl_EP). New tables modified have been pushed into these. PA: will be reviewing some of finer details in the following week as gaps are closed between the expected values and the actual values.
PA: very pleased at the speed at which they've caught up with the translation into postgreSQL
B. Questions fielded from group (none presented)
C. Looking ahead (Mr. Antley shared a report, here)
PA has finished EP column, working on car years. Working on breaking out additional columns
Will be working outstanding loss.
In next week columns should be broken out.
PA Has worked out bodily injury, property damage, earned premium, car years.
Getting closer and closer to the report we're ultimately working toward producing.
PA noted that current report isn't broken out by state.