The National Insurance Producer Registry and ACORD Corp. have signed a “memorandum of understanding” that calls for NIPR to harmonize some NIPR processes with existing ACORD data and message definitions.
The deal should help streamline the producer licensing and appointment process, according to NIPR, an arm of the National Association of Insurance Commissioners, Kansas City, Mo., and ACORD, Pearl River, N.Y.
NIPR runs a system that helps insurers and insurance distributors exchange producer licensing and appointment information with state insurance regulators.
ACORD, an insurance industry technology standards group, has a separate system that helps insurers, insurance distributors and insurance technology companies automate producer licensing and appointment processes.
NIPR now wants to “map” 9 of its own standards into ACORD Messaging Library messaging standards, to help link state regulators’ producer information communication system with private industry’s producer information communication system.
An ACORD working group that includes ACORD members and NIPR representatives will carry out the mapping process, officials say.