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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Set goals, objectives or some context for this meeting.
Meeting Minutes
I. Opening Remarks
A. Greetings
B. LF Antitrust Policy read by Mr. Antley
II. Agenda
A. Auto Coverage Report - Private Passenger Auto
1. Basic Review of Report and Various Coverages/Subcoverages
2. Recap
a. Calculations for earned premium, incurred loss
b. Now on incurred count
3. Incurred count
a. Extraction pattern presented - anything from code 2, 3, 6, 7, find records, and utilize set data object to find unique IDs. Scroll through and find unique occurrences, greater than start date, < end date.
b. Car years - working on this now. A little trickier. Back to discussion about earned premium - some normal, some cancellation with negative amount. When a cancellation is issued, months covered is updated to amount of months left to be covered.
This usually equates to one month.
4. More broadly, Mr. Antley has been working with AWG to bring infrastructure documentation up to date. Planning on getting data engineer to work with him to speed up extraction process. Optimistic that car years will be done by 8/26/22.
5. After car years, everything will be parameterized. On track - not blocked, just competing obligations.
6. Called for thoughts, suggestions, insights - none presented
III. Adjournment - Meeting adjourned at 1:11pm.
Discussion items
Time
Item
Who
Notes
Notes
Action items
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