As it enters 2011, the
The NIPR notes it took several steps toward creating a more unified insurance licensing structure to improve efficiency in meeting licensing and regulatory requirements for those in the insurance industry during the past year.
In 2010, 12 states were added for resident licensing, and seven states were added for resident licensing renewals, for a total of 34 states and 27 states, respectively, participating. The organization also expanded products offered through their authorized business partners to include online resident licensing applications and renewals as well as address change requests. Moreover, NIPR recorded its 100 millionth transaction through the Gateway, a communication network that electronically links state insurance departments with the entities they regulate. NIPR expects to complete an industry-leading additional 9.68 million transactions in the coming year.
“Facing economic pressures, many insurance companies and producers are demanding a centralized, universal infrastructure that helps them operate more efficiently and meet insurance regulatory requirements,” Maryellen Waggoner, executive director of NIPR said in a statement. “By focusing on expanding our digital capabilities and adding more jurisdictions to our network last year, we were able to meet these demands and lay the groundwork for a strong 2011.”
