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: 989 0880 4279
Passcode: 740215

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Meeting ID: 989 0880 4279
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Meeting Minutes

I. Opening

A. Greetings

B. Mr. Antley read LF Anti Trust Statement

II. Content

A. Recap/Update

1. Mr. Antley pulled up openIDL Proposed Recording Requirements

2. Touched on 8 Different Types of Transactions we're Documenting

3. Noted that records are being actively loaded into HDS at present

4. Also noted that in AWG - we're discussing architectural requirements and the way data is handled. HDS tracking when is maturity date - precision of records builds as we delve further into past. We also discussed corrective actions if an error is found. We are not onsetting and offsetting original error but on offsetting data. i.e., working to make the data correct

5. Following current practice of logging premium & loss records created as event-driven creation. Loaded as events happen

6. Distinction in HDS for edited and as-yet unedited data. Goal: more recent data via stat rep. in HDS. Not all of data has been edited, thus not all data has precision needed for reporting. Will be tracking maturity levels of data accordingly. (At this point a discussion arose in the group about whether data should go into HDS that hasn't gone through the edit package - correction Mr. Antley said this might be a misunderstanding and he would check into this.

B. Moving Forward - Will continue with implementation. Mr. Antley also discussed node deployment he's actively working on with Mr. Braswell

C. Adjournment - Mr. Antley noted he has nothing add'l for today and meeting adjourned early at 1:12pm.


Discussion items



Action items