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FOR IMMEDIATE RELEASE NIPR MARKS A DECADE OF SUCCESS ST. LOUIS (Sept. 9,
2006) – In
just 10 years, the National Insurance Producer Registry (NIPR) has become
an essential part of the producer licensing process nationwide. To mark
its 10th anniversary, the NIPR is reflecting on a decade of
accomplishments, the foundation on which its board of directors has based
their aggressive future goals. “For
the last decade, it has been the NIPR’s mission to be the premier
public-private partnership supporting the work of the states and the
NAIC,” said NIPR Executive Director Maryellen Waggoner. “This anniversary
gives us a wonderful opportunity to look back on our success and focus on
our future goals to streamline and make uniform the insurance producer
licensing process for the benefit of regulators, insurers, producers and
consumers.” The NIPR began in October 1996
as the Insurance Regulatory Information Network (IRIN). It was a unique
partnership that included representatives from individual states and the
insurance industry. The original IRIN board of directors included four
state regulators, four industry representatives and the NAIC’s executive
vice president.
With financial support from
the NAIC, the American Council of Life Insurers and several
property/casualty insurers, the IRIN established its Producer Database
(PDB). In March 1997, three
states — Iowa, Washington and Wisconsin — began sending data to the PDB.
Five years later, the PDB had grown to include producer licensing data for
all 50 states, the District of Columbia and Puerto Rico. Financial success was sparked
by the creation of the NIPR Gateway (formerly Producer Information
Network) in 1998. It succeeded in reducing state appointment and
termination processing time from weeks to days. Following these major
milestones, the IRIN was ready to officially change its name to more
accurately reflect its purpose of accelerating the producer licensing
process. In 1999, the IRIN became the NIPR. Currently, the NIPR continues
its commitment to consumers by providing the insurance industry with the
technology to access information through a centralized database containing
licensing information for more than 3.8 million producers. In
2005, approximately 1,400 companies made more than 5.3 million inquiries
in the PDB, more than 6 million appointments and terminations were
processed through the NIPR Gateway and in excess of 400,000 producers
obtained non-resident licenses electronically. So far this year, the NIPR
has seen an even greater use of its products and
services. As
NIPR enters its second decade, reengineering and streamlining the producer
licensing process will continue to be a priority, including the debut of
the first centralized location to process address
changes. “Our
vision of the NIPR includes all states participating in the electronic
processing of appointments and terminations, non-resident and resident
licensing, licensing renewals and appointment renewals,” Waggoner said.
“It is our vision to become the online, one-stop shopping solution for the
insurance industry.”
A Decade of NIPR
Accomplishments 1996 - IRIN
is incorporated in Missouri and the board of directors is
chosen. 1997 – Iowa, Washington and Wisconsin are the first three states to send data to the Producer Database (PDB). 1998 - The
NIPR Gateway (formerly Producer Information Network) is established to
electronically transmit appointments and terminations to state insurance
departments.
2001 - The
first non-resident licensing application is processed in
May. 2001 - Revenues exceed
expenses.
2002 - PDB is complete with
all states in the database.
2003 - NIPR repays debt to the
NAIC and NIPR charter members. 2004 - NIPR implements two
price reductions.
2006 – 98 percent of all
states requiring appointments are processed through the NIPR Gateway. 2006
- The 30 millionth transaction is processed by NIPR.
About NIPR Incorporated in October 1996, the National Insurance Producer Registry (NIPR) is a non-profit affiliate of the National Association of Insurance Commissioners (NAIC). NIPR developed and implemented the Producer Database (PDB) and Electronic Appointments/Terminations (formerly PIN). NIPR is governed by a board of directors structured to include seven members representing the NAIC and six industry members representing a cross section of the insurance industry. For more information, visit NIPR on the Web at: http://www.nipr.com.
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