A Call to Action Enabling Open Standards Data Flow

Transcription

1 A Call to Action Enabling Open Standards Data Flow

2 Mapping the Construction Technology Ecosystem Financial Markets Bank Insurance Surety tal-projects-and-infrastructure/ourinsights/seizing-opportunity-in-todaysconstruction-technology-ecosystem Last year, we mapped the industry s technology ecosystem with a focus on the solutions that are proliferating in the construction phase of the project life cycle. The research shed light on the emergence of technology clusters, industry-wide technology investment of more than $10 billion in less than a decade, and the lack of integrated solutions that span three identified use case clusters: on-site execution ( field ), digital collaboration ( team ), and backoffice and adjacencies ( office ). Public Funding Systems That Exchange Data

3 Mapping the construction technology ecosystem Financial Markets Public Funding

4 Mapping the construction technology ecosystem Systems That Exchange Data

5 Mapping the construction technology ecosystem Surety Based Risk Management - Data Exchange Pilot Solar System Performance Monitoring

6 Mapping the construction technology ecosystem Demand Financial Markets Federally Recognized Machine Readable Standardized Data Supply Public Funding

7 Demand Financial Markets Federally Recognized Machine Readable Standardized Data Supply Public Funding Impact Investing Impact Underwriting Impact Policy Impact Programing Impact Campus

8 Financial Markets Public Funding

9 Data Flow for Bonding Contractor Company Profile Aggregated Submitted to Surety Bond Issued Electronically Bond Data Set Available to Stakeholders Construction Industry Surety Industry Stakeholders State Administrator Solar O&M System Mapping the Construction Technology Ecosystem Lender Insurance Broker Enabling Data Exchange From System to System Surety Broker Insurance Market From Data Source Data Underwriting and Processing To Multiple Stakeholder Data Systems Contractor Utility Solar Asset Owner Surety Market Beginning Data Sources Value Add Processing of Data Final Data Distribution

10 Data elements, including identifying the bond form to incorporate the text Mapping the Construction Technology Ecosystem The surety bond has two basic parts 1. The fixed text of the bond depending on the bond form 2. The data elements in the bond which need to be exchanged

11 Electronic Surety Provider State Administrator Solar O&M System Mapping the Construction Technology Ecosystem Lender Insurance Broker Surety Broker Insurance Market The surety bond has two basic parts 1. The fixed text of the bond depending on the bond form 2. The data elements in the bond which need to be exchanged Contractor Solar Asset Owner Utility Surety Market Final Data Distribution

12 Data Flow for Bonding Contractor Company Profile Aggregated Submitted to Surety Bond Issued Electronically Bond Data Set Available to Stakeholders Surety Broker Online Questionnaire Surety Broker Agency Management System Project Performance Data Surety Company Underwriting System Electronic Surety Provider Project Procurement Data State Administrator Solar O&M System Internet Search Lender Insurance Broker Any Contractor, Bank, Insurance Company, Utility, State or Federal database where the system provides the customer/client the option to securely download a standardized company profile as an export than can be imported Reference Data Bank Data - Token State and Federal Data CPA Data Surety Broker Contractor Utility Insurance Market Solar Asset Owner Surety Market Beginning Data Sources Value Add Processing of Data Final Data Distribution

13 Data Flow for Bonding Contractor Surety Resource Connection Company Profile Aggregated Submitted to Surety Submissions Tracked Bond Issued Electronically Bond Data Set Available to Stakeholders Surety Company Underwriting System Electronic Surety Provider State Administrator Solar O&M System Lender Insurance Broker Any Contractor, Bank, Insurance Company, Utility, State or Federal database where the system provides the customer/client the option to securely download a standardized company profile as an export than can be imported Reference Data Bank Data - Token State and Federal Data CPA Data Surety Broker Contractor Utility Insurance Market Solar Asset Owner Surety Market

14 Data Flow for Bonding Solar System Surety Resource Connection Company Profile Aggregated Submitted to Surety Submissions Tracked Bond Issued Electronically Bond Data Set Available to Stakeholders Surety Company Underwriting System Electronic Surety Provider State Administrator Solar O&M System Third Party O&M Provider Any Contractor, Bank, Insurance Company, Utility, State or Federal database where the system provides the customer/client the option to securely download a standardized company profile as an export than can be imported Internal Solar Monitoring System Lender Surety Broker Contractor Utility Insurance Broker Insurance Market Solar Asset Owner Surety Market Surety Based Risk Management - Data Exchange Pilot Solar System Performance Monitoring