NIPR RELEASES 2022 ANNUAL REPORT
Published Tuesday, Mar 21, 2023
KANSAS CITY, Mo – Today, the National Insurance Producer Registry (NIPR) released results for the full year ended December 31, 2022.
"In another record year, NIPR delivered 9.3% revenue growth and completed several key initiatives critical to our mission of delivering cost-effective, streamlined, and uniform producer licensing. The conclusion of 2022 marks the end of the second year of NIPR’s three-year strategic plan, Our Bridge to the Future, and the introduction of three new states to NIPR’s product lines. I am proud of our accomplishments, and we are well positioned to execute in the final year of our strategic plan by focusing on three critical dimensions of our work: our engaged and empowered team, customer-focused excellence, and high-quality and reliable technology,” said NIPR CEO Karen Stakem Hornig.
Key achievements include:
- Revenue of $67.4 million, an increase of 9.3% over 2021
- $1.29 billion in fees moved by NIPR to state Departments of Insurance, an increase of 17.5% from 2021
- Addition of three states, Hawaii, Kansas, and Massachusetts, to major NIPR products
- More than 8.1 million records accessible in the Producer Database, up 3.3% from 2021
- First-contact resolution rate of 97% by the Customer Service team
As we look to the future, our NIPR team is growing, innovating, and committed as we continue to serve as the one trusted source for insurance licensing, data, and simplified compliance.
NIPR is a not-for-profit technology company with the goal of streamlining the producer licensing process. Governed by a Board of Directors representing state insurance regulators and members of the insurance industry, NIPR is an affiliate of the National Association of Insurance Commissioners. To learn more, visit NIPR.com.