NAIC Initiative
NAIC State Ahead Strategic Plan
State Ahead: Protecting the Public Interest and Educating Consumers
April 19, 2018, NAIC LinkedIn
NAIC Releases Cloud Modernization Fiscal for Public
March 24, 2018, NAIC News Release
NAIC Releases Strategic Plan — State Ahead
February 7, 2018, NAIC News Release
Media queries should be directed to the NAIC Communications Division at 816-783-8909 or news@naic.org
Last Updated 1/14/2019
Issue: The NAIC Strategic Plan: State Ahead was drafted and vetted during 2017 and has been adopted by the NAIC membership in 2018. It is a three-year plan covering 2018-2020. State Ahead provides a blue print for the NAIC's future. It was developed to provide a comprehensive strategic plan to guide the efforts of the organization.
Status: State Ahead is organized around three themes. Each theme is supported by one or more goals providing details on how the theme will be addressed to execute the plan.
THEME I: Safe, Solvent and Stable Markets
Goal 1: Provide state insurance regulators with data, training and tools required to support a collaborative regulatory environment that fosters stable financial markets and reliable and affordable insurance products.
The main objectives being considered to achieve this goal are:
The first objective calls for modernizing the way data is collected and organized to make it more consumable for state insurance regulators, NAIC staff, the industry and consumers. This will empower users with self-service business intelligence tools to give greater insight into insurer financial condition and market practices. The second objective is to analyze how the insurance sector is impacted by broader financial markets, common risk exposures and the economy. Together these objectives should lead to better organization and analytical reporting on the financial health in the insurance industry.
Some of the work product expected includes:
THEME II: Consumer Protection and Education
Goal 2: Ensure that consumer protection keeps pace with changes in the marketplace and consumers have information and education needed for informed decision making.
The main objectives being considered to achieve this goal are:
NAIC and state insurance departments have begun collecting market data from insurers through filings of the NAIC's Market Conduct Annual Statement (MCAS). The first objective calls on the NAIC to leverage NAIC technology to collect and store more market data. This includes developing analytical tools for the benefit of state insurance departments. The second objective involves becoming more engaged in the areas of InsurTech and RegTech. The goal is to understand how consumers are impacted by new products and services.
Some of the work product expected includes:
THEME III: Superior Member Services and Resources
Goal 3: Provide optimal services to support state insurance departments and equip them with the necessary talent and resources.
Goal 4: Optimize the efficiency and effectiveness of the NAIC structure.
The main objectives being considered to achieve these goals are:
These three objectives require the NAIC to work closely with state insurance departments to better understand their needs. Additionally, to improve the security, flexibility and availability of technology-related services, the NAIC will focus on four things — cybersecurity, improving the customer experience, platform transformation, and talent development and management.
Some of the work product expected includes: