NAIDC 2025 is the acronym for the Nationwide Affiliation of Insurance coverage Commissioners (NAIC) Insurance coverage Knowledge Requirements undertaking with a goal completion date of 2025. The aim of this undertaking is to modernize the insurance coverage business’s knowledge requirements and enhance the effectivity and accuracy of information alternate. The brand new requirements will likely be based mostly on fashionable expertise and will likely be extra versatile and scalable than the present requirements.
The NAIDC 2025 undertaking is a serious endeavor that can influence all stakeholders within the insurance coverage business. 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 will likely be important. The brand new requirements will make it simpler to alternate knowledge between completely different methods, scale back the price of knowledge alternate, and enhance the standard of information.
