Information Straight From The Source
Attending NCCI's Data Education Program is always a blast. You can network with industry players as well as learn about new and emerging trends. The 2018 program may have just been the most revealing and informative in quite some time. In one opening presentation alone, we learned the following:
1. The Industry as a whole has reached >99% available and on-time reporting for units.
2. An entirely new data call, the Indemnity Call, is being developed for 2021.
3. NCCI's new polling app didn't change our accuracy on SuperBowl picks. Go Eagles!
The Long Group had a total of four attending this year, however we always find ourselves among friends from partner companies along the way.
It's always an interesting time. Most data reporters are not full-time. They come from several different departments: underwriting, accounting, IT. So there are always several perspectives on new topics. This year, everyone was talking about the new Indemnity Call and the WCIO layout updates rolled out over the past year. The consensus, from all viewpoints, was the same: NCCI is moving towards more data, faster and more accurately.
The new tools introduced, new data points being requested and stronger incentive to report early and accurately all support the idea that more and more is being expected from insurers. Our customers trust in us to foresee and adapt to these new demands, so naturally we've planned accordingly. For others, what use to be a small part of their job is growing and growing.in size and complexity.
Help Is On The Way
So, for Long Group, 2018 is the year we focus on how to help those with in-house reporting operations. Our work with Hubio is a large part of that, but there is more to come!