At the recent NAVA Conference in Baltimore M.D., one of the presentations by Mike Willis from XBRL presented the idea of reporting insurance (variable) product data to the SEC using XBRL. Naturally as an industry we've already invested more than a decade developing an industry standard data model and dictionary through ACORD (the ACORD Life and Annuity Standards), and more recently the past six years we've developed a richly detailed Product Profile for Annuites (PPfA) specifications thru NAVA... so the question begins with how do we leverage what we've developed in PPfA to satisfy the requirements/needs of the SEC/NASD? Interesting question and one worth exploring.
The first... of a series of questions begins with:
* What information does the SEC want
* How much of that is in the current PPfA's
* How hard to add what's missing
* How about Life and other lines?
* How does this mesh into XBRL
* How does his link with efforts towards a semantic understanding of insurance data (RDF, OWL)
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