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