This International Underwriting Association (IUA) market briefing will highlight the use and importance of Open Data Standards within the marketplace.

About the ORD

The ORD (Open Results Data) Standard was developed as a result of a collaborative project involving Managing Agents, Brokers, (Re)Insurance companies, Risk Modelling Vendors and Third-Party Providers during the Lloyd’s of London Cohort 3 Innovation Lab in Q’s 3/4, 2019.

The OED Standard arose from the lack of industry standard for Oasis LMF-based models. Both OED and ORD were intended to assist with solving interoperability problems current in the insurance market, where implementing a model-developer-independent exposure data and results repositories will assist in creating choice in the use of catastrophe models and analytical tools.

To continue to allow for the evolution of OED and ORD, and adoption by the (re)insurance market, a Steering Committee – formed of industry experts – will agree on the governance and curation of both standards in the future. The SteerCo agreed to the name Open Data Standards (ODS) to capture the full remit of the initiative.

Event details

At this market briefing, all you need to know about ODS “The Why, the What, the How?” but were afraid to ask, will be discussed in trilogy format with IUA guest panel:

Panel Moderator: Jeremy Hindle, Consultant (Oasis LMF):

“The Why?” – The Importance of Data Standards in the marketplace

• Dickie Whitaker, Chief Executive (Oasis LMF)
• Tristan Lloyd, Exposure Manager (Ascot)
• Emma Watkins, Head of Exposure Management (Lloyd’s)

“The What?” – ODS Background, Governance, OED Overview and Next Steps

• Matt Donovan, Programme Manager (Oasis LMF)

“The How?” – Getting Data into OED Format

• Tejaswi Sreenath, Senior Catastrophe Analyst (Aon)