New Tools for Statistical Reporting and Data Quality. Analytical Data Management (ADM)

Transcription

1 New Tools for Statistical Reporting and Data Quality Analytical Data Management (ADM) 1

2 Outline Interactive exercise data Analytical Data Management team Line-specific data quality processes Multiline data quality programs Statistical Web Services enhancements 2

3 Interactive exercise with playing cards Why is data collection important? Why is data quality important? 3

4 Analytical Data Management Team Richard Morales Manager Multiline Data Quality Programs Hernan L. Medina Director Matt Longacre Manager Auto Data Quality & Databases Tracy Spadola Vice President Strategic Data Operations Fred Mason Assistant Vice President Data Collection & Regulatory Reporting Jason Smith Director Analytical Asset Enrichment Dennis Huang Manager Casualty Data Quality & Databases Mike Lenczewski Manager Property Data Quality & Databases 4

5 Analytical Data Management The science of data refinement Data refinery helps fuel ISO s analytical engines Resource to help you provide quality data 5

6 Line-Specific Data Quality Processes Prior/Current state Tied to production processes Different groups performing ground up reasonability checks 6

7 Line-Specific Data Quality Processes Reorganized state Centralize and standardize Perform core reasonability checks earlier Increase efficiency through technology and data science 7

8 Line-Specific Data Quality Processes Distributional checks Performance measure reasonability checks Trend and development checks 8

9 Line-Specific Data Quality Processes Distributional check examples: Territory Classification Coverage etc. 200, , , , , ,000 80,000 60,000 40,000 20, Q1 Q2 Q3 Q4 9

10 Line-Specific Data Quality Processes Performance measure reasonability checks Loss cost to premium ratio Average premium Average loss cost at current level Average loss experience ratio etc. 10

11 Line-Specific Data Quality Processes Aggregate Trend and loss development checks Per occurrence Loss development 11

12 Multiline Data Quality Programs Transactional Data Validation Edits Annual Verification Report Cards 12

13 Multiline Data Quality Programs Transactional Data Validation Edits Proprietary quality process that includes over 2,500 separate checks to help that data meet our high standards of quality. Applies to unit-transaction detail of each premium and loss record statistically reported. Enhances the validity, reliability and accuracy of our data sets and our actuarial analysis. 13

14 Multiline Data Quality Programs Annual Verification Comparison of each statistical reporting group s calendar year data with financial information from the annual statement s Statutory Page 14. Opportunity to reconcile differences in excess of 1% or greater than $5,000 for Countrywide, SDMS and Texas data. Online reconciliation and response system 14

15 Multiline Data Quality Programs Report Card - Annual Performance Evaluation Designed for Chief Executive business leaders and Data Quality officers to review company s statistical reporting performance. Criteria for the program includes: Timeliness of the data Compliance with acceptability requirements Extent of corrections required Online delivery with summaries and graphs 15

16 Statistical Web Services New web-based platform for managing and reporting statistical data submissions. Suite of features designed to: Streamline data editing and correction Analyze key data quality indicators Review data history Enhance collaboration and decision-making File storage and remote access Offer new tools to assist and simplify reporting Real-time data validation solutions (e.g., REST API) 16

17 Statistical Web Services Data Volume Reports 17

18 Statistical Web Services Distribution Reports 18

19 Statistical Web Services Distribution Reports 19

20 Statistical Web Services Annual Statement Line of Business Reports 20

21 Statistical Web Services This new reporting platform will continue to grow and expand new ideas on the drawing board: Integrate new data quality programs and tools Support delivery of data and reports in multiple formats Self service portal for data issue resolution 21

22 Questions? No part of this presentation may be copied or redistributed without the prior written consent of ISO. This material was used exclusively as an exhibit to an oral presentation. It may not be, nor should it be relied upon as reflecting, a complete record of the discussion..