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📋 '''Data call''' is a formal request issued by a [[Definition:Insurance regulator | regulatory authority]] or industry body requiring [[Definition:Insurer | insurers]], [[Definition:Reinsurer | reinsurers]], or other regulated entities to submit specified data within a defined timeframe. In the insurance industry, data calls are a primary mechanism through which supervisors collect the information they need to monitor market conduct, assess [[Definition:Solvency | solvency]], track emerging risks, and set or approve [[Definition:Insurance rate | rates]]. The scope can range from routine annual statistical filings to ad hoc requests triggered by a catastrophic event, a market disruption, or a new regulatory initiative.

📊 The mechanics of a data call vary by jurisdiction and regulatory body. In the United States, the [[Definition:National Association of Insurance Commissioners (NAIC) | NAIC]] coordinates periodic data calls across state insurance departments — for example, collecting market conduct data on [[Definition:Homeowners insurance | homeowners]] claims handling or gathering [[Definition:Cybersecurity | cyber]] insurance premium and loss information to track an emerging line. In the United Kingdom, the [[Definition:Prudential Regulation Authority (PRA) | PRA]] and [[Definition:Financial Conduct Authority (FCA) | FCA]] issue data calls to monitor specific risks or evaluate compliance with conduct standards. [[Definition:Lloyd's of London | Lloyd's]] similarly issues its own data calls to [[Definition:Lloyd's syndicate | syndicates]] and [[Definition:Coverholder | coverholders]] through market bulletins. European supervisors operating under [[Definition:Solvency II | Solvency II]] rely on Quantitative Reporting Templates (QRTs) as standardized data calls, while Asian regulators — including those in Hong Kong, Singapore, and China — maintain their own periodic submission frameworks. Insurers typically route responses through their actuarial, finance, or compliance functions, and the data must conform to prescribed templates, definitions, and validation rules.

⚠️ Timely and accurate responses to data calls carry significant consequences for insurers and the broader market. Failure to comply can result in regulatory sanctions, increased supervisory scrutiny, or restrictions on writing business. Beyond compliance risk, data calls shape industry transparency: aggregated results inform public reports, benchmark studies, and policy decisions that affect [[Definition:Insurance rate | rate-setting]], [[Definition:Reserving | reserve adequacy]] assessments, and consumer protection measures. For many insurers, the operational burden of responding to data calls has become a catalyst for investing in modern [[Definition:Data management | data management]] infrastructure, as legacy systems often struggle to extract and format the granular information regulators increasingly demand. [[Definition:Insurtech | Insurtech]] vendors and [[Definition:Regulatory technology (regtech) | regtech]] platforms have emerged specifically to help carriers automate data call responses, reducing manual effort and error rates.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:Regulatory reporting]]
* [[Definition:National Association of Insurance Commissioners (NAIC)]]
* [[Definition:Solvency II]]
* [[Definition:Data management]]
* [[Definition:Regulatory technology (regtech)]]
* [[Definition:Market conduct]]
{{Div col end}}

Definition:Data call - Revision history

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