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When:
Tuesday, June 7, 2022
9am to 10am PDT/12:00PM-1PM EST
ZOOM Please Register in advance for this meeting:
https://zoom.us/meeting/register/tJwpcO2spjkpE9a=
1HXBeyBxz7TM_Dvo8Ne8j
Attendees:
Lanaya Nelson
@Susan Chudwick
Regina Daw
Kim Brown
1. Convention of meeting - Robin Westcott AAIS=
-Linux Foundation anti-trust statement - Nath= an Southern LF
-Brief round of introductions from attendees<= /p>
2. North Dakota Department. of Insurance =
-Discussion of different use cases per charte= r - Chris Aufenthie - ND ROI
-Draft letter to current openIDL members to i= nvite participation
3. RRDMWG report - Peter Antley AAIS
4. OpenIDL Executive update - Jeff Braswell ED=
5. Regulatory feedback and discussion - = Robin Westcott, AAIS
Meeting Notes - Nathan Southern:
I. Introduction by Nathan Southern/Read of LF Antitrust Statement
2. Robin Westcott asked Nathan to pull up agenda
3. Round of intros - Robin called for additional intros personal intros = from new people - Sandra Darby followed suit and introduced
4. Robin - broad overview
RRSC charter published in wiki but our main job is to help align work go= ing on in RRDMWG and in separate use cases, to inform how we help advance w= ork. Charter and wiki fill in details of RRSC's role.
5. Focus on Use Case - ND -
work over last couple of weeks had focused on ND. Robin introduced Chris= Aufenthie for highlights of ND use case.
All of materials we submitted with RFP and RFI posted on wiki for refere= nce of all concerns. Essentially we'd like steering committee to know and u= nderstand this use case and if other members of idl community want to parti= cipate this would be welcome
6. Chris Aufenthie explained ND Use Case- concerns identification of ill= egally uninsured drivers. Two bills brought into ND legislative session
-Most recent bill brought in to verify insurance as active - but cost ex= tremely high, required hiring more people
-Goal: reduce govt and cut costs instead of trying to increase them. How= do we regulate this more efficiently
-Talks began in ND re: what is the real percentage of unins. drivers. Be= st they could do was a rough estimate re: known uninsured claims. This didn= 't suffice. They needed a better method as a no-fault state. Roughly est'd = a 13% of driving population that lacks insur.
-Talks began that led to an RFI process - distributed ledger technology = is ideal in this scenario. Irrefutable, secure, can be built on for success= ive projects. AAIS is further along than anyone working in this space, unde= rstands insurance and technology sides =3D an ideal partner
-They picked top 10 carriers in ND required to participate in this, with= in POC phase, using VIN #s to obtain matches. Letters of required participa= tion have gone out
-Chris invited additional carriers to join in. At this point, essentiall= y it is a stakeholder meeting. Now is the time to do it - when it becomes a= legal requirement, it will be too late. Unwise to wait until later to see = how it pans out.
-Kick off meeting 7/26/22 - invited anyone who is interested to join thi= s. They want to show how and why the technology works (the extent of its ef= ficacy) by the end of this calendar year.
-Mr. Braswell thanked Chris Aufenthie for the explanation and subsequent= invite.
-Ms. Westcott: APCIA working group has done some of this IICMVIA - based= around getting some of this info, but it goes into centralized databases u= sed to generate a report or match for the states. The more we do this the b= igger the database. Has no future ability to do real time dynamic
queries. Very difficult to do. A more manageable technology is absolutel= y critical. ND had a great insight in using openIDL technology
-Mr. Aufenthie: asked all interested parties to reach out to himself and= /or Robin at AAIS to give those parties a voice on the table - flexibility = and input. Move toward regulatory reporting.
-Some letters will also go out to board members to further explain this.=
-Right now POCs just looking at personal lines.
7. RRDMWG Updates - Peter Antley
-Mr. Antley: working on producing auto coverage report. Working with ini= tial data standard of replicating aais stat plan to prove the viability of = the plumbing.
-Last week arithmetic for calculating earned premium. This was approved<= /p>
-This Friday will be taken off for the holiday. Next meeting held the fo= llowing Friday
-Greg Williams will be presenting a similar chart - arithmetic for calcu= lation for car years.
-Then moving into incurred loss and processing loss records/spike POCs a= nd how to utilize reporting based on premiums.
-We will have a sense of what comprehensive reporting looks like via idl= infrastructure
-AWG making key progress.
-Mr. Antley then returned meeting to Ms. Westcott.
-Ms. Westcott- we must add elements that enable us to look at more advan= ced and timely reporting than what we have..
-Question: how to we formalize the info we get from SR now in a way that= everyone can deploy (read: alignment) and support that, and with that, we = need to ensure we're informing and getting back info from RR community on w= hat is working well.
-Mr. Antley pointed to Mr. Sayers: a lot of work with insurance manager = via JSON to add address, coverage and effective dates, etc. adding to conde= nsed model that we currently have. Many discussions ongoing re: how robust = of a model we will need. Looking ahead to the future.
-Ms. Westcott pointed to Ms. Darby: we want to give you whatever info yo= u need to support your NAIC work. Outlined how our work so far can support = their desired destination.
-Mr. Antley: we've spoken with George and Eric as key contributors and l= ooking at how we go beyond auto - into address, other fields, also getting = more timely information.
-Clarified re: address: we're talking about homeowners, hurricanes, othe= r lines outside of auto. These conversations on the horizon.
-Ms. Westcott outlined an example of an address-driven event for auto - = key to talk to car manufacturers, etc. But first we need to build toward th= is further.
-Ms. Westcott: Not everything insurance companies have needs to be filte= red to database - we have to pick and choose what is relevant by building t= oward the future.
8. Executive Director openIDL Jeff Braswell Update:
-Mr. Braswell - pointed to bigger picture of working with different stak= eholders to gather future requirements.
-AWG has been defining requirements from carrier side, excellent discuss= ions ongoing with AAIS and others. We're working on building this list of r= equirements from other stakeholders, re: how network is governed, from AAIS= re: analytics process and capabilities, and also
input from regulators for what they see as requirements in future.
-We are trying to take a larger role in helping coordinate various activ= ities in what IDL can step up and do. Invited anyone who has questions to r= each out.
-Also denoted that IDL plans to set up a Test Net to provide initial mec= hanisms that take on operational roles of network. Also tracking developmen= t of fundamental solutions.
-We're also working on growing the community and building/expanding part= icipation with addition of new partners.
-Ms. Westcott: asked about role of governing board itself - how it funct= ions and how Mr. Braswell is working with them as ED - Mr. Braswell pointed= out that IDL is subject to GB decisions, initiatives we feel are needed ar= e brought forward to GB for approval. In these meetings we update
GB on what state of play is and what decisions need to be approved.
-We're coordinating various interactions between technology data standar= ds and requirements for participation.
-This is an OSS community of participants set up as a collaborative effo= rt. Touched again on criticality of growing community. Pointed attendees to= statutes laid out dictating how governing board and committees function an= d interact. Also pointed out that this is not a traditional
vendor-client relationship.
-Ms. Westcott invited more participation on Governing Board.
-Mr. Braswell discussed nature of open source and his emphasis on dramat= ically growing the idl community.
-Ms. Darby emphasized need to facilitate add'l advisory orgs, stat agent= s, participating. Mr. Braswell agreed with this. Especially critical as vot= ing reaches higher and higher levels. Having them as part of the conversati= on will help. Mr. Braswell agreed with the priority of this.
-Ms. Westcott pointed to ISS, also North Carolina Rating Bureau as key p= rospective participants
-Denoted how we want to create value from what we do.
9. Regulatory Feedback and Discussion - Robin Westcott
-Any other discussion around use cases? Complete use cases? i.e., a stat= e that would take it that way in a POC?
-Denoted that showing we can do it is more valuable.
-Ms. Zerkovich: if we need to reach out to other stat agents, for instan= ce NY, Washington, NC, should there be a plan we can work with (with = Mr. Braswell) - re: defining who are the entities that should be invited? H= ow do we system. go about increasing participation from those groups?
-Mr. Braswell offered to take lead on this. Perfect role for IDL to play= in this - Ms. Westcott offered to send Mr. Braswell lists of stat agents, = etc.
-Ms. Braswell pointed to Ms. Nelson as key individual with a great deal = of experience in facilitating this outreach.
-Ms. Westcott: there will be a new value statement created/yielded, beca= use we are changing our own paradigm in the industry. Key is understanding = what value each participant/contributor brings to 'new world.'
10. Concluding remarks:
-Ms. Westcott called for additional questions/thoughts/insights from gro= up.
-Noted that the system will be tested in many different ways, with other= use cases, possible participants, etc.
-Mr. Braswell stressed the criticality of diversity and inclusiveness. G= reat takeaways from call.
-Ms. Westcott formally adjourned meeting at 12:50pm EST.