Happy fall! In this quarterly newsletter we highlight TAI's recent accomplishments, share news of our latest activities and updates, and this time we end with a special congratulations to one of our team who has achieved notoriety this year at LOMA. Although the temperature is cooling down, our engines are hot and we continue to gain momentum come year end!TAI Insights Foresight
By now, you have heard that TAI is developing a dynamic analytics package named TAI Insights. Insights will provide a dashboard view of Key Performance Indicators (KPIs) related to policy information, reinsurance, claims, underwriting, actuarial, and more.
Are you looking forward to the possibility of implementing TAI Insights at your organization? If so, we wanted to pass along a helpful hint. One of the significant benefits of Insights will be the ability to see historical data, but in order for that historical data to be loaded at implementation time, you will need TAI backups. If you think Insights is a possibility, please consult with your technical staff soon and confirm that they save Monthly TAI backups (Pre-Cycle .MSB and .Zip plus Post-Cycle .Zip) for at least a rolling year. If they do not, ask them to start now. For newer .NET clients, this may involve changing the ‘KEEP’ parameter on the backup step in your Monthly Cycle, but please consult with your technical staff before making changes in case there are storage concerns.
Insights is scheduled to be available in mid-2016, so addressing the backups now will put you in a great position! A little foresight will help you get more out of Insights!
What's Cooking? The TAI Connector
TAI consistently looks to provide the most innovative and intuitive reinsurance systems. We are excited to share a preview of the TAI Connector which is set to optimize and improve the efficiency of current tools:
- TAI Connector will provide extended functionality for things like the ETL Process which will allow clients to create custom extractions that can be consumed by internal and external units.
- X-Press will integrate the current TAI X-Press Windows to TAI Connector which will better integrate TAI cycle processing with enterprise scheduling and monitoring packages such as Control-M, TWS, ESP, and CA7. This will reduce the number of personnel required to monitor the tools.
- TAI Connector will also offer a Web Services API, an application which distributes data upon request. For example: Underwriting may want to know about an insureds prior policies or retention prior to issuing a new policy ORClaims may want to know if they have recovered a claim amount from a reinsurer on a given policy.
This is just a whiff of what TAI is cooking up. With a deeper focus on R&D and a mandate to make things easier for clients we highly anticipate the launch of this new tool.
European Data Quality Summit
The purpose of the meeting was to focus on the quality of data that is shared between the direct and reinsurance companies in Europe and for TAI to share its’ data quality experience in the North American reinsurance market. The discussion highlighted the differences of products and practices in the two markets and also focused on the potential impact of the Solvency II regulation on EU reinsurance market.
TAI was able to gain additional insight into the reinsurance market and practices in the EU and confirm that the EU reinsurance market could benefit from using the TAI platform to improve the quality of data currently received by the reinsurers.
As of September 1, 2015, TAI no longer supports the non-encrypted standard FTP. Aegis will allow file transfers to be compliant with the Statement on Standards for Attestation Engagements No. 16 (SSAE16) file transfer process whereby the files are encrypted even in a resting state. Although users will still be able to use a secure FTP client software for transfer there is an option to complete transfers directly without the need of another piece of software using a web base portal.
Summary of benefits of the TAI Aegis FTP Site:
- Only secure transfers supported
- Files encrypted in a resting state
- Logical separation of incoming and outgoing files
- Option to transfer without an FTP client software
- Faster and more importantly, a more secure process
Registration to the new Aegis Site is now available. The existing FTP site will remain available until October 31, 2015. After this date, the old service will be turned off and only the new Aegis site is available.
If you wish to gain access to Aegis for your data file transfers, please complete this registration form. A member of the Aegis support team will be in touch with additional information on how to log into your new Aegis account.
TAI Home of Top ARA Student
Some of you may have attended the LOMA conference September 9 - 11 this year. Annually there is a Top Student award for different designations. We are pleased and proud to announce this year our very own Patrice Mendala was the top ARA for the Western Region. That is #1 out of 282!
TAI is committed to having team members who are experts in the life insurance / reinsurance industry. TAI requires all staff to earn LOMA's FLMI and ARA designations.
On behalf of the team, I sincerely hope you enjoy your year end.