openIDL, an initiative of the Linux Foundation, dedicated to modernising and standardising insurance data across the global market, has launched the industry’s first free and open production-ready insurance data standard.
The organisation introduced the openIDS Homeowners Standard v.1.0 in response to long-standing challenges around fragmented and inconsistent insurance data.
The new framework is designed to reduce reporting friction, enhance regulatory readiness, and support innovation across the broader insurance ecosystem.
openIDL works to establish interoperable data practices that support insurers, regulators, technology providers and policymakers. Its mission is to enable structured, transparent and secure data exchange that can underpin future digital transformation across the insurance sector.
The newly launched openIDS Homeowners Standard v.1.0 provides a unified framework for capturing and exchanging property risk data. It aims to streamline compliance reporting, reduce data inconsistencies and support the development of digital tools that rely on structured, interoperable insurance information.
The release forms part of a wider roadmap for the openIDS suite. Additional standards covering more lines of business are already planned, with the goal of building a comprehensive ecosystem of open, interoperable models that can support insurers, regulators and policyholders in a scalable and adaptable manner.
Additional benefits of the standard include improved underwriting accuracy through consistent risk assessment data, enhanced regulatory responsiveness due to standardised formats, reduced translation costs through shared definitions and deeper analytics capability enabled by rich structured information.
openIDL executive director Josh Hershman said, “This release is a testament to the power of collaboration. Our members came together to design something dynamic, resilient, and future-focused. With the governance and support of the Linux Foundation, we’re building a foundation for insurance data standards that can scale and adapt as the industry evolves.”
AAIS VP of actuarial services/chief pricing actuary Michael Payne said, “This milestone delivers on a long-standing need for our industry. With the openIDS Homeowners Standard v.1.0, we now have a production-ready standard that not only drives efficiency and compliance, but also sets the stage for broad adoption across the insurance marketplace.”
Cloverleaf Analytics CEO and founder Robert Clark said, “Leveraging contributed IP from Cloverleaf Analytics allowed us to move with speed and precision, resulting in a commercially viable standard proven over the past ten years that works in the real world right now. That combination of practicality and collaboration is what makes industry-wide adoption achievable.”
reThought Flood CEO Cory Isaacson said, “This is just the beginning. The openIDS Homeowners Standard v.1.0 establishes a strong foundation and we’re ready to build on it. By developing additional models, we’ll continue expanding the value of openIDS and shaping the future of insurance data standards — creating the potential for streamlined efficiency and billions of dollars of savings across the industry.”
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