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FOR IMMEDIATE RELEASE NIPR'S PLANS
FOR 2008 INCLUDE HOUSTON (Dec. 1, 2007) — At its final board meeting of the year, the National Insurance Producer Registry (NIPR) laid out plans for the upcoming year, including a new method of payment for its online products. "We recognize that the licensing process can be cumbersome," said NIPR Executive Director Maryellen Waggoner. "Our main goal continues to be providing innovative solutions that save producers — and insurers — time and money." To enhance its already streamlined process, the NIPR will begin accepting electronic checks as a method of payment for transactions and state fees. Previously, only credit card and paper check payments have been accepted. NIPR will absorb all fees for the electronic check payment option, meaning there will be no additional cost to the user. The electronic check option will be available for Kentucky appointment renewals beginning in January 2008 and will gradually be made available in other states for use with the majority of NIPR’s products. “We continue to work with the states and the industry to support uniformity initiatives through technology solutions," Waggoner said. "We are aggressively working to create a one-stop shopping solution for the insurance industry, and I'm proud of the accomplishments we've made so far.” NIPR has had overwhelming success this year, seeing record volumes across all product lines. Its newest product, the Address Change Request (ACR) has already processed more than 150,000 requests since its release in June. Forty-three states participate in the ACR, and NIPR hopes the product will soon be available for producers in all states. NIPR’s other product lines are also expected to show significant growth in 2007. The Producer Database anticipates more than 6.5 million inquiries before the end of the year, the Gateway will process more than 7 million appointments and terminations, and more than 1 million licenses will be electronically issued.
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 www.NIPR.com.
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