2019 Annual Report
In 2019, NIPR processed the highest number of transactions and served the largest number of producers in its history. The end of 2019 marks the close of the second year of NIPR’s three-year strategic plan NIPR 2020: Focused on the Future, and we are happy to report completion of 67% of the plan’s 34 objectives. This year’s completed projects netted improved customer experience and technical excellence for those we serve.
- Florida now offers a full array of NIPR licensing products, including resident and nonresident licensing for individuals and business entities. NIPR is grateful to our colleagues in the Florida Department of Financial Services for their hard work and partnership.
- This year NIPR also expanded the functionality of our mobile application to allow producers access to appointment information and the much-anticipated push notifications for license renewals. These enhancements increased the number of producers using the mobile application from15,000 to 47,000.
- We completed an overhaul and redesign of NIPR.com, which launched publicly in mid-January 2020. The new, easier to navigate site is intended to make regulatory compliance easier, especially for newer producers.
Growth in Service and Efficiency
In the last five years, the number of credentialing and report transactions processed through NIPR has increased from 20.7 million in 2014 to 36.1 million in 2019, which is a 74 percent increase. NIPR’s team has scaled in number and skill to meet the needs of those we serve for better products and customer service.
Focus on 2019 Numbers
- 36.1 million credentialing and report transactions, a year-over-year increase of 14.9 percent
- 45.3 million in revenue representing a 13.6 percent increase from 2018
- $849 million in fees moved by NIPR to departments of insurance, which is a 13.2 percent increase
- Over 7,350,000 records in the Producer Database representing a 6.5% increase from 2018
Statements of Financial Position
A copy of NIPR’s financial audit as of December 31, 2019 can be found in our Annual Report.
Focused on the Future
NIPR’s planning focus narrowed and sharpened through months of strategic discussion and research to deliver what is most important and essential to the next three years of NIPR’s organizational growth.
NIPR is governed by a thirteen-member board of directors that includes six state Insurance Commissioners, six members representing producer and insurance industry trade associations and the NAIC's CEO or COO.