In 2019, the Insurance workgroup focused on creating an insurance-specific Business Service Taxonomy Extension to the TBM Taxonomy (created by the TBM Council). They accomplished this by:
- Defining Five Use Cases to answer, "What are the big things that we, in insurance, would need to accomplish with TBM via the taxonomy, model, data, and tools?",
- Developing a set of key metrics and KPIs that align the the use cases and are important in insurance,
- Demonstrating key Insurance Business Capabilities.
The 2020 goals include:
- Creating deliverables per the TBM Council standards
- Examining use cases as applied in member organizations. Documenting 1 case study.
- Discussing interoperability with leading standards such as ACORD.Identifying key stakeholders (CEO, COO, CIO, CTO)
2020 Workgroup
Chair: Manik Patil, AIG
Technical Adviser: Anuj Nath, Apptio
Members to include representatives of companies same as prior year.
2019 Workgroup
Chair: Manik Patil, AIG
Technical Adviser: Anuj Nath, Apptio
Members included representatives from companies such as
- AIG
- Aflac
- Allstate
- Anthem
- Chubb
- Liberty Mutual
- Marsh Mclennan
- MassMutual
- Progressive
- Prudential
- Farmers Insurance
- Northwestern Mutual
- State Farm
- Standard
Together these companies have over half a trillion worth of premium written (per annum). This is a representative group for the industry forming taxonomy standards.
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