American Association of Insurance Services

Aais is an advisory organization and a statistical agent working on behalf of 759 property and casualty Insurance companies. Aais develops, maintains and updates manuals of rules and rating procedures for approximately 38 Insurance program lines and files those programs with all state Insurance departments on behalf of our member companies. For the fiscal year ended june 30, 2023, aais made over 1050 filings with Insurance departments to address product updates and revisions, as well as evolving regulatory compliance issues.

Aais distributes information to member companies via bulletins which include instructions on adopting newly-filed rules and forms and mandatory endorsements. For the fiscal year ended june 30, 2023, aais distributed almost 600 related bulletins to member companies.

Aais collects company Insurance data on behalf of state regulators and reports such data to the regulators in order to satisfy member companies i statutory reporting requirements. For the fiscal year ended june 30, 2023, aais processed approximately 8,500,000 claims records with total loss estimates of approximately $33.4 billion. Aais also collects third party data from a variety of public and proprietary data sources to refine risk management advisory Services. This includes data on economic activity, fire incidents, regional exposure attributes, weather, crime, census information, market share information, fire station and fire hydrant location information. Over 230,000,000 records of related third party data were utilized for various advisory support activities during fiscal year ended june 30, 2023.

During the fiscal year ended june 30, 2023, aais continued development of the openidl (open insurnace data link) platform. Openidl is an open blockchain network built on the ibm blockchain platform on the open source hyperledger fabric and is designed to streamline regulatory reporting and provide new insights for insurers, while enhancing timeliness, accuracy and value for regulators. Openidl helps enable the efficient, secured and permission-based collection and sharing of statistical data. Openidl also utilizes multicloud capabilities giving members the flexibility to deply the blockchain network on the could intrastructure of their choosing.