NAIDC 2025 is the acronym for the Nationwide Affiliation of Insurance coverage Commissioners (NAIC) Insurance coverage Information Requirements undertaking with a goal completion date of 2025. The aim of this undertaking is to modernize the insurance coverage business’s information requirements and enhance the effectivity and accuracy of information change. The brand new requirements will probably be based mostly on trendy expertise and will probably be extra versatile and scalable than the present requirements.
The NAIDC 2025 undertaking is a significant endeavor that may affect all stakeholders within the insurance coverage business. Insurers, brokers, brokers, and regulators will all must undertake the brand new requirements. The undertaking 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 totally different programs, scale back the price of information change, and enhance the standard of information.
