NIPR Celebrates Record-Breaking Revenue and Full Utilization Across All States in 2023
NIPR announces a record revenue of $72.5M for 2023 and full utilization in all states, highlighting key achievements and future plans.
Agenzee Team
The National Insurance Producer Registry (NIPR) announced outstanding financial results for the year ending December 31, 2023, marking its highest revenue year to date. The announcement was made during the release of their annual financial report.
Under the leadership of CEO Karen Stakem Hornig, NIPR achieved a significant 7.5% increase in product revenue, culminating in a total revenue of $72.5 million for the year. This growth is attributed to the dedication of NIPR’s team and its strong partnerships with industry regulators and members, which have been instrumental in fostering innovation and excellence within the organization.
2023 was a landmark year for NIPR, achieving 100% utilization of its services across all states for major lines products and services. Notable additions included New York, Washington, and Kansas, expanding NIPR’s footprint and enhancing service capabilities nationwide.
The organization also saw a 7.1% increase in accessible records within the Producer Database, totaling over 8.68 million records. Additionally, Continuing Education (CE) transcript data is now available in 26 states, further demonstrating NIPR’s commitment to supporting the educational needs of insurance professionals.
The NIPR Customer Service team reported serving more producers than ever before, highlighting the growing reliance on NIPR’s services and the trust placed in its operations by the insurance community.
2023 also marked the culmination of NIPR’s strategic initiative, “Our Bridge to the Future,” which has paved the way for the next phase of strategic planning. The newly introduced 2024–2026 plan, titled “Shaping our Future,” promises to continue the momentum, focusing on innovation and addressing the evolving needs of the insurance industry.
The leadership team is set to welcome new members, with Anthony Maddox of America’s Health Insurance Plans (AHIP) elected as vice president and Lori Wing-Heier, Director of the Alaska Division of Insurance, appointed as secretary/treasurer. Larry Deiter will continue his role as board president, a position he has held since 2019.
View the full annual report and learn about NIPR’s future initiatives to shape the landscape of insurance regulation.
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