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