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 trade’s information requirements and enhance the effectivity and accuracy of knowledge trade. The brand new requirements can be based mostly on trendy expertise and can be extra versatile and scalable than the present requirements.
The NAIDC 2025 undertaking is a serious enterprise that can impression all stakeholders within the insurance coverage trade. Insurers, brokers, brokers, and regulators will all have to 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 can be important. The brand new requirements will make it simpler to trade information between completely different techniques, cut back the price of information trade, and enhance the standard of knowledge.
