NAIC (2)

Connecticut Insurance Department Leveraging Artificial Intelligence to Capture Institutional Knowledge

Jan 4, 2023 / by AAIS posted in Insurance, Machine Learning/AI, Regulatory/Compliance, NAIC, Artificial Intelligence, Insurance Advisory, Regulatory Reporting, Machine Learning, Statistical Reporting

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For this Regulatory Brief, AAIS sat down with George Bradner, Assistant Deputy Commissioner of the Connecticut Insurance Department, to discuss the use of modern technologies to streamline processes for more efficient filings moving into 2023.

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Director of Rate & Forms Compliance at Kansas DOI Provides Update on New Forms Filing Procedures in Kansas

Dec 27, 2022 / by AAIS posted in Insurance, Regulatory/Compliance, NAIC, Insurance Advisory, Regulatory Reporting, Statistical Reporting

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At the recent NAIC meeting in Tampa, AAIS asked Julie Holmes, Director of Rate and Forms Compliance at the Kansas Department of Insurance for an overview of upcoming changes to forms filing procedures in the State.

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MA Deputy Commissioner Talks Data Standards and Changes to Health Insurance Regulation, including Dental Coverage

Dec 22, 2022 / by AAIS posted in Insurance, Regulatory/Compliance, NAIC, Insurance Advisory, Regulatory Reporting, Statistical Reporting

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At the recent NAIC meeting in Tampa, Kevin Beagan, Deputy Commissioner at the Massachusetts Division of Insurance, discussed the need for standardization across the data and technology space. He also shared insights on the current challenges experienced in the healthcare market, including dental coverage.

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NAIC CEO Mike Consedine Reflects on 2022 and Looks Ahead to the Hot Topics for 2023

Dec 19, 2022 / by AAIS posted in Insurance, Regulatory/Compliance, NAIC, Insurance Advisory, Regulatory Reporting, Statistical Reporting

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At the recent NAIC meeting in Tampa, Florida, AAIS sat down with NAIC CEO Mike Consedine to review challenges and opportunities that emerged in 2022 and the hot topics and trends leading into 2023.

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Maine Bureau of Insurance's Sandra Darby Discusses NAIC Stat Working Group Updates & Emerging Industry Trends

Dec 15, 2022 / by AAIS posted in Insurance, Regulatory/Compliance, NAIC, Insurance Advisory, Regulatory Reporting, Statistical Reporting

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At the recent NAIC meeting in Tampa, Florida, AAIS sat down with Maine Bureau of Insurance's Property & Casualty Actuary Sandra Darby to talk upcoming trends that we can expect to see in 2023. She also shared what the NAIC Stat Working Group is currently working on and the exciting projects they plan to implement in the New Year.

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NAIC CEO Shares Insights on Insurance Regulation

Apr 28, 2022 / by AAIS posted in openIDL, Insights, Issues & Trends, Data & Technology, COVID-19, Homeowners, Climate Change, Cannabis, Auto, AAIS News & Views, AAIS Pulse, Data/Tech, NAIC, Regulation, pandemic, Regulators, Business Interruption, Economy, Cannabis Insurance, cyber insurnace

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On a recent edition of AAIS Pulse, NAIC CEO Mike Consedine sat down with AAIS President and CEO Ed Kelly to share his insights on major regulatory issues facing the insurance industry and the NAIC.

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Busy NAIC Fall Meeting Brings Forth Key Themes for 2022

Dec 22, 2021 / by AAIS posted in openIDL, Community, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Insurance News/Current Events, Industry Associations, Regulatory/Compliance, Cannabis, Auto, Legislation & Regulation, NAIC, DEI

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The National Association of Insurance Commissioners (NAIC) recently wrapped up its fall meeting in San Diego, Ca., where it celebrated its 150th Anniversary. It was a hybrid event with an estimated 1,200 people attending in person and another 1,800 virtually. AAIS Views caught up with our Manager Government Affairs and Compliance, Lori Dreaver Munn and AAIS VP of Memberships & Solutions Truman Esmond, who both attended in person to hear about some of the key themes and takeaways from the meeting.

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Maryland Insurance Commissioner Talks Talent, E-Commerce, Insurtech & More

Oct 18, 2021 / by AAIS posted in Machine Learning/AI, Issues & Trends, Data & Technology, AAIS Events, Events, Tech News, Insurtech, Regulatory/Compliance, New/Emerging Risks, Working in Insurance, Legislation & Regulation, AAIS Insights, AAIS Pulse, AAIS Event Archives, Data/Tech, NAIC, talent

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The AAIS Pulse newsmagazine recently featured a discussion between Maryland Insurance Commissioner Kathleen Birrane and AAIS VP of Government, Legal and Compliance Robin Westcott. They covered a range of topics, from careers in insurance and climate change to National Association of Insurance Commissioner Working Groups, technology, insurtechs and much more.

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Report Highlights: openIDL Passes COVID-19 BI Data Call Test

Aug 24, 2021 / by Robin Westcott posted in openIDL, Data & Technology, Data Management/Distributed Ledger, COVID-19, Regulatory/Compliance, Blockchain, NAIC, Data Call, Business Interruption, AAIS Views

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On Aug. 16, at the 2021 Summer National Association of Insurance Commissioners (NAIC) National Meeting, AAIS VP of Government Affairs, Legal & Compliance, Robin Westcott, presented the results of a Proof of Concept (POC) testing whether openIDL could support a COVID-19 Business Interruption Data call issued by the NAIC.

The meeting served as the kickoff for the openIDL Regulatory Reporting Steering Committee (RRSC). Ms. Westcott provided highlights from the positive findings set out in the report published by AAIS declaring that blockchain/distributed ledger technology had passed the test enroute to even broader applications across the industry.

Following is a summary of Ms. Westcott’s presentation:

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Modernizing Statistical Reporting: What It Means for Our Industry

May 27, 2021 / by Dina Burgess posted in openIDL, Technology, Data & Technology, NAIC, IBM, Linux Foundation, Hyperledger, AAIS Views, Statistical Reporting, Modern Advisory Services

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Regulatory-driven statistical reporting was first established for the insurance industry by the NAIC Property & Casualty Model Rating Law some 70 years ago. And the practices and procedures that underpin insurer statistical reporting have changed little in the decades since. Now, however, statistical reporting is being modernized with the development of the open Insurance Data Link (openIDL). Dina Burgess, Manager of Enterprise Risk Applications at AAIS, talks about the need for this change and the new ease, efficiency and accuracy that characterizes modern regulatory reporting.

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