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New NIPR Processing Speeds Producer Licensing

The National Association of Insurance Commissioners (NAIC) and its affiliate, National Insurance Producer Registry (NIPR), have announced a unique partnership that streamlines the licensing process...
March 17, 2009

The National Association of Insurance Commissioners (NAIC) and its affiliate, National Insurance Producer Registry (NIPR), have announced a unique partnership that streamlines the licensing process using new instantaneous capabilities.

When used in conjunction with the NAIC's State Based Systems (SBS) product suite, all NIPR licensing transactions - including original and renewal applications, appointments and terminations, and address change requests - can be submitted to an SBS state almost immediately, allowing the state to process licensing requests as they are submitted. Once the transaction is approved by the state, the SBS system will send the approval notification back to NIPR using real-time processing and NIPR will immediately notify the customer. For a transaction that meets all processing requirements, with no additional information required, the entire transaction - including submission, review, approval and notification - can be completed in as little as two minutes. The previous process could take anywhere from 24 to 48 hours.

"This new rapid-response function is yet another example of how the states are leading the way to a more streamlined, fully electronic way of doing business," said NAIC President and New Hampshire Insurance Commissioner Roger Sevigny. Alaska Insurance Director Linda Hall, who also serves as president of the NIPR Board of Directors and chair of the NAIC Producer Licensing Task Force added, "We are pleased to deploy this exciting new product to states that are part of the SBS family. SBS, through its membership-driven uniformity initiatives, makes NIPR more efficient by providing a tool suite that is consistent from state to state."

NAIC and NIPR Announce Fast Track Processing (NAIC 3/14/09)

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