1 / 16

CAS Seminar

CAS Seminar. DAT-5 Standards in an E-commerce world. Panelists. Gary Knoble, The Hartford Mike Gagne, The Hartford Chuck Wight, Shelter Island Risk Services. Topics. Accelerated need for industry data standard & how the industry is responding Opportunities for data sharing

napua
Télécharger la présentation

CAS Seminar

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. CAS Seminar DAT-5 Standards in an E-commerce world

  2. Panelists • Gary Knoble, The Hartford • Mike Gagne, The Hartford • Chuck Wight, Shelter Island Risk Services

  3. Topics • Accelerated need for industry data standard & how the industry is responding • Opportunities for data sharing • Legacy vs. warehouse • Data cleansing • Data privacy concerns

  4. Need for Industry Standard? • Overall cost of doing business • High cost of conversion, scrubbing, compliance • Reliability and accuracy • Speed of data interface

  5. How the Industry is Responding • Efforts of IDMA, ACORD, WISe, PRDP, RIMS • Convergence and coordination of efforts • Use of technology: • XML (web-technology) • UML (definition and simulation) • Data attributes • White papers

  6. Opportunities for Data Sharing • Key members of the insurance world • Carriers, reinsurers • TPAs • Insureds • Bureaus, gov. entities • Various interested parties (CAS, brokers, ACORD,vendors)

  7. Example of Data Exchange, Single definition: Claimant Name, address, injury codes Insured Claimant Name, address, injury codes TPA Claimant Name, address, injury codes Claimant Name, address, injury codes Carrier Claimant Name, address, injury codes Reinsurers Bureaus Vendors

  8. Opportunities (cont.) • Goals • Process • Technology • Time-frames • Costs & manpower

  9. Warehouse Lower maintenance Lower processing costs Better data integration Faster/more robust data access Legacy Lower cost programming resources Legacy vs. Warehouse

  10. Data Cleansing • Normalization • Keep data simple • Multiple field edits

  11. Normalization • The process of organizing data in a structure that removes redundancy • Issues arise when working with transactional data

  12. Keep Data Simple • Avoid multi-purpose fields • Avoid “intelligent” fields • Use homogeneous field values

  13. Multiple Field Edits

  14. Multiple Field Edits

  15. Data Privacy Concerns • Data continuity and integrity vs. personal privacy • Role of States and gov. regulations • Free-flow of confidential information? • Potential leaks

  16. Conclusion • What to expect the next 12-24 months • How CAS can benefit/ help • Questions? • For additional information contact: • IDMA, www.ins-data-mgmt.org/ • ACORD, www.acord.org • PRDP, www.prdp.org • RIMSWeb, www.rmisweb.com/

More Related