NAIDC 2025 is the acronym for the Nationwide Affiliation of Insurance coverage Commissioners (NAIC) Insurance coverage Information Requirements mission with a goal completion date of 2025. The aim of this mission is to modernize the insurance coverage trade’s information requirements and enhance the effectivity and accuracy of knowledge change. The brand new requirements will probably be based mostly on fashionable know-how and will probably be extra versatile and scalable than the present requirements.
The NAIDC 2025 mission is a serious enterprise that may affect all stakeholders within the insurance coverage trade. Insurers, brokers, brokers, and regulators will all must undertake the brand new requirements. The mission is predicted to take a number of years to finish, however the advantages of the brand new requirements will probably be important. The brand new requirements will make it simpler to change information between completely different techniques, cut back the price of information change, and enhance the standard of knowledge.
