2017 Fall National Meeting
Honolulu, Hawaii
Saturday, December 4, 2017
7:30 – 9:00 a.m.
Hilton Hawaiian Village and Hawaii Convention Center—313AB Convention Center—Level 3

Work Plan

 

These audio recordings follow the Big Data (EX) Working Group from the 2016 Spring National Meeting. To follow along using the agenda, please click here.

Audio Recording 1
Introduction – Commissioner Laura N. Cali (OR)
Academic Perspective
Insurance Industry Perspective (partial)

Audio Recording 2
Insurance Industry Perspective (Continued)

Audio Recording 3
Consumer Perspective

Audio Recording 4
Questions and Comments with Consumer Panel
Regulator Perspective
Concluding Remarks with Commissioner Laura N. Cali (OR)

Related NAIC Publications

Contacts

Big Data (EX) Working Group

The Mission of the Big Data (EX) Working Group is to gather information to assist state insurance regulators in obtaining a clear understanding of what data is collected, how it is collected, and how it is used by insurers and third parties in the context of marketing, rating, underwriting, and claims. This includes an evaluation of both the potential concerns and benefits for consumers, as well as the ability to ensure data is being used in a manner compliant with state insurance statutes and regulations. The Working Group will also explore opportunities for regulatory use of data to improve the efficiency and effectiveness of insurance regulation.

2017 Charges:

  1. Review current regulatory frameworks used to oversee insurers' use of consumer and non-insurance data. If appropriate, recommend modifications to model laws/regulations regarding marketing, rating, underwriting and claims, regulation of data vendors and brokers, regulatory reporting requirements, and consumer disclosure requirements.

  2. Propose a mechanism to provide resources and allow states to share resources to facilitate states' ability to conduct technical analysis of and data collection related to states' review of complex models used by insurers for underwriting, rating, and claims. Such mechanism shall respect and in no way limit states' regulatory authority.

  3. Assess data needs and required tools for regulators to appropriately monitor the marketplace and evaluate underwriting, rating, claims, and marketing practices. This assessment shall include gaining a better understanding of currently available data and tools and recommendations for additional data and tools as appropriate. Based upon this assessment, propose a means to collect, house, and analyze needed data.