A new nima working group is set to develop a framework and the associated tools to enable insurers to use structured information to evaluate project risk.
The working group falls under nima’s Information Management Initiative (IMI) and is expected to take two years from its inception next month to deliver its project, named Project IIRIS. This will:
- define clear Insurer Information Requirements across the asset lifecycle, aligned with the IMI Framework, Building Safety Act gateways and principles underpinned by ISO 19650 (specifically part 6);
- collaborate with other IMI projects to establish a standard exchange format so that structured project data can be used by insurers during design (RIBA Stages 0 to 4), through construction (RIBA Stage 5), and beyond handover (RIBA Stage 6);
- develop the Minimum Insurable Asset Dataset (MIAD), a data-driven underwriting solution that will enable insurers to offer assured premiums based upon contractually regulated information exchanges;
- develop provisions for use in professional appointments, main contracts and elsewhere requiring notification to insurers when assets are modified, helping to maintain real-time, accurate risk profiles; and
- publish an IIRIS executive technical briefing, educational material and other guidance on the data-driven insurance information exchange requirement across the full asset lifecycle.
The working group is led by Dr Bola Abisogun OBE, founder and president of the Digital Twin Skills Academy, supported by Amodal CEO Stuart Bell. It involves nearly 20 experts from across the built environment, including senior representatives from the insurance sector.
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