National Association of Insurance Commissioners (NAIC)

What National Association of Insurance Commissioners (NAIC) does

The National Association of Insurance Commissioners (NAIC) is a nonprofit membership organization founded in 1871 and headquartered in Kansas City, Missouri. It is governed by the chief insurance regulators of all 50 U.S. states, the District of Columbia, and five U.S. territories (56 jurisdictions), and operates as the coordinating body for U.S. state-based insurance regulation. Its mission is to support state insurance regulators with standards-setting, peer review, accreditation, model-law development, and consumer protection functions.

NAIC operates an integrated regulatory technology platform that includes SERFF (System for Electronic Rates and Forms Filings, with 517,000+ transactions in 2023), OPTins (Online Premium Tax Filing), NIPR (National Insurance Producer Registry, 185.9 million transactions in 2025), myNAIC, iSite+, State Based Systems, the Financial Data Repository, the Securities Valuation Office, the Structured Securities Group, the Capital Markets Bureau (New York), the Market Conduct Annual Statement (MCAS), the Insurance Compact (IIPRC), and the Catastrophe Risk Management Center of Excellence. Consumer-facing tools include the Life Insurance Policy Locator, Consumer Insurance Search, and the Online Fraud Reporting System. The underlying architecture relies heavily on Oracle PeopleSoft (compromised in a June 2026 zero-day exploit incident) alongside state-specific integrations.

Revenue is generated through database and data product fees ($42.3 million in 2023), transaction fees on SERFF and OPTins filings, membership and accreditation assessments paid by state insurance departments, publications, training programs, and licensing transactions via NIPR. The organization sells data subscriptions to insurers, academics, and policymakers and is now extending its role into AI governance, private credit oversight, catastrophe mitigation research, and pharmacy benefit manager (PBM) examination guidance. Jeffrey C. Johnston was named CEO on May 6, 2026.

Name

National Association of Insurance Commissioners (NAIC)

Legal name

National Association of Insurance Commissioners

Website

https://naic.org

Company type

Private

Founded year

1871

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The National Association of Insurance Commissioners (NAIC) is a 150-year-old nonprofit, governed by the chief insurance regulators of all 50 U.S. states, DC, and five territories, providing regulatory standards, accreditation, and integrated compliance technology platforms (SERFF, OPTins, NIPR) to the U.S. insurance industry.

Ownership category

akta.pro rank

Headquarters

HQ city

Kansas City

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Database and Data Products: NAIC generates significant revenue from database fees and data products sold to the insurance industry, including financial data, market conduct data, and analytical products.
2. Technology Platform Fees: Revenue from technology platforms including SERFF filings (517,000+ transactions in 2023), OPTins premium tax filings, and other regulatory technology services. SERFF is described as cost-effective with no licensing fees.
3. Publications and Training: Sale of publications including market regulation handbooks, model laws, consumer guides, and professional development programs for regulators and industry professionals.
4. Membership and Accreditation: State insurance department membership and accreditation services, with 56 chief insurance regulators from all 50 U.S. states and five territories represented.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

NAIC is the U.S. standard-setting and coordinating body for state-based insurance regulation, serving the chief insurance regulators from all 50 U.S. states, the District of Columbia, and five territories. It provides proprietary regulatory technology platforms (SERFF, OPTins, NIPR, myNAIC, iSite+), centralized financial and market conduct data repositories, model laws and accreditation programs, professional training, and consumer protection tools (Life Insurance Policy Locator, Online Fraud Reporting System, Consumer Insurance Search).

Product overview

The National Association of Insurance Commissioners (NAIC) operates a comprehensive platform-plus-ecosystem architecture consisting of multiple interconnected regulatory technology systems. The core infrastructure includes SERFF (System for Electronic Rates and Forms Filings) for multi-state insurance product filing, OPTins for premium tax processing, State Based Systems for regulatory workflow automation, myNAIC and iSite+ for regulator-facing data access, and NIPR (National Insurance Producer Registry) for producer licensing management. Supporting systems include the Insurance Compact (IIPRC) for uniform product standards, Securities Valuation Office and Structured Securities Group for credit quality assessment, Capital Markets Bureau for financial market monitoring, Market Conduct Annual Statement for consumer protection data, and the Catastrophe Risk Management Center of Excellence for natural hazard risk analysis. Consumer-facing tools include the Life Insurance Policy Locator, Consumer Insurance Search, and Online Fraud Reporting System. Together, these products form an integrated state-based insurance regulatory ecosystem serving 56 chief insurance regulators from all 50 U.S. states and five territories.

Differentiator

Problem solved

Functional benefit

Brands

• SERFF (System for Electronic Rates and Forms Filings): Cost-effective platform for submitting rate and form filings with state insurance regulators
• OPTins
• myNAIC
• State Based Systems (SBS)
• NIPR (National Insurance Producer Registry)
• Insurance Compact

Products and services

• SERFF (System for Electronic Rates and Forms Filings) A cost-effective regulatory technology platform used by insurance companies and producers to submit rate and form filings to multiple state insurance regulators via browser and PDF software, with no licensing fees. Processed over 517,000 transactions in 2023.
• OPTins (Online Premium Tax Filing) Online platform that facilitates the submission of various state-specific insurance filings and payments, including premium tax and surplus lines tax filings by insurance companies.
• National Insurance Producer Registry (NIPR) Wholly-owned subsidiary of NAIC that manages the Producer Registry, processing licensing, credentialing, and reporting transactions for insurance producers across all U.S. states and territories. Processed 185.9 million transactions in 2025.
• State Based Systems (SBS) Web application developed by NAIC and state insurance departments that streamlines regulatory processes for efficiency and compliance with state insurance regulation.
• myNAIC Regulator-facing technology portal providing U.S. insurance regulators with access to NAIC regulatory applications, data, and support functions.
• iSite+ Regulatory information portal providing access to insurance regulatory data, financial information, and compliance tools for state insurance regulators and authorized users.
• Insurance Compact (IIPRC) The Interstate Insurance Product Regulation Commission that enables uniform product standards across participating states, including record adopted standards for asset-based insurance products.
• Securities Valuation Office (SVO) Office within the Capital Markets & Investment Analysis Office responsible for the day-to-day credit quality assessment of securities owned by state regulated insurance companies.
• Financial Data Repository Centralized warehouse of insurance industry financial data used by state regulators, policymakers, and academics; generates $42.3 million in database fees annually.
• Market Conduct Annual Statement (MCAS) Centralized data collection and storage system enabling national analysis and reporting on insurer market practices, supporting consumer protection oversight across U.S. states.
• Life Insurance Policy Locator Free consumer-facing search tool that helps beneficiaries locate lost or unknown life insurance policies of deceased individuals by querying insurer records.
• Consumer Insurance Search Consumer-facing search tool providing insurance information and educational resources to help consumers understand different types of insurance and make informed decisions.
• Online Fraud Reporting System (OFRS) Direct online access system that allows consumers and industry to report suspected insurance fraud to state insurance regulators.
• Catastrophe Risk Management Center of Excellence Center that provides state insurance regulators with technical expertise on catastrophe models, training on risk analysis, and applied research to evaluate how mitigation strategies affect insurance pricing, underwriting, and availability.
• Capital Markets Bureau New York-based bureau that monitors developments and trends in financial markets and supports state insurance departments on matters affecting regulation of insurance investment activities.
• Uniform Certificate of Authority Application (UCAA) Standardized application process allowing insurers to file copies of the same application for admission across multiple states, streamlining multi-state insurance company licensing.
• Producer Licensing System Comprehensive producer licensing infrastructure including uniform license applications, standards, testing programs, continuing education tracking, and reciprocity agreements across 54 jurisdictions.
• NAIC Data Products and Publications Subscription-based data products, market regulation handbooks, model laws, consumer guides, and professional development publications sold to state regulators, insurance industry professionals, and consumers.
• Center for Insurance Policy and Research Research and education center that drives discussion and advances thought leadership on current and emerging insurance issues for insurance commissioners, policymakers, industry, and academics.

Quantifiable outcome

• NAIC coordinates regulatory oversight across 56 jurisdictions
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered major, core, flagship and minor.

• Alphabet (Mandiant and Google Threat Intelligence)majorTechnology or Integration · 24 June 2026Mandiant and Google Threat Intelligence attributed the NAIC breach campaign to ShinyHunters threat group, which targeted over 100 organizations globally using CVE-2026-35273, a critical PeopleSoft vulnerability (CVSS 9.8).
• FBIcoreOthers · 11 June 2026NAIC coordinated with the FBI following discovery of the cyber incident affecting its Oracle PeopleSoft system on June 11, 2026. The breach was linked to a zero-day exploit campaign targeting multiple organizations.
• Cybersecurity ExpertscoreTechnology or Integration · 11 June 2026NAIC engaged cybersecurity experts to investigate the incident and implement remediation measures following the PeopleSoft system breach.
• U.S. Department of the TreasuryflagshipStrategic or Co-development Partner · 7 May 2026NAIC members met with Treasury Secretary Scott Bessent on May 7, 2026, to discuss private credit and insurance sector intersection, state regulators' oversight of insurers' risk management, and investment practices. Both parties agreed to continue staff- and senior-level engagement on regulatory topics including risk-based capital work, private letter ratings, and offshore reinsurance oversight.
• State Insurance CommissionersflagshipStrategic or Co-development Partner · 7 May 2026State insurance commissioners coordinated with NAIC leadership during meetings with Treasury Secretary Bessent to discuss insurance sector oversight, private credit risks, and the state-based regulatory model. The discussion emphasized fit-for-purpose regulation balancing innovation with risk management.
• State Insurance Departments (PBM Oversight)minorStrategic or Co-development Partner · 15 April 2026NAIC is developing a PBM examination and audit guide to assist state regulators in addressing oversight gaps in pharmacy benefit manager regulation, following years of state-level PBM legislation.
• Bermuda Monetary AuthoritymajorStrategic or Co-development Partner · 9 April 2026Former NAIC President Andrew Mais spoke at ABIR Risk Forum noting increasing alignment on transparency among Bermuda, US, and European insurance watchdogs. Bermuda reinsurers hold over $900 billion in American life and annuity liabilities representing more than 80 percent of offshore total.
• Insurance Institute for Business & Home Safety (IBHS)minorStrategic or Co-development PartnerNAIC's Catastrophe Risk Management Center of Excellence partnered with California Department of Insurance on wildfire research using IBHS Wildfire Prepared Home™ Standards.

Scale indicators8 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Financial Industry Regulatory Authority (FINRA): FINRA is a self-regulatory organization that oversees U.S. broker-dealers, paralleling NAIC's role coordinating state insurance regulators. Both are quasi-governmental SROs with regulatory authority, member funding, and technology platforms that the industry depends on for compliance.
• National Council of Insurance Legislators (NCOIL): NCOIL coordinates state legislators on insurance policy, complementing NAIC's role coordinating state insurance regulators. Both organizations support the U.S. state-based insurance regulatory model and frequently partner on model laws and regulatory standards.

Broad incumbents

• Securities and Exchange Commission (SEC): The SEC is the federal regulator for securities markets. While NAIC focuses on state-based insurance regulation and SEC on federal securities oversight, both are financial regulators developing frameworks for AI governance, private credit oversight, and industry data collection.
• Federal Deposit Insurance Corporation (FDIC): FDIC is a federal banking regulator with supervisory authority over state-chartered banks, paralleling NAIC's role with state insurance regulators. Both manage institution-level data, conduct examinations, and coordinate on systemic risk oversight.
• Consumer Financial Protection Bureau (CFPB): CFPB is a federal consumer financial protection agency with regulatory and enforcement authority. Comparable to NAIC's consumer protection function via Market Conduct Annual Statements, the Life Insurance Policy Locator, and consumer complaint mechanisms.
• Federal Reserve Board: The Federal Reserve supervises banks and coordinates systemic financial risk oversight. NAIC coordinates with Treasury (and indirectly the Fed) on insurance sector oversight, particularly around private credit and systemic risk, making it a comparable federal financial coordinator.

Others

• Insurance Information Institute (Triple-I): Triple-I is an industry-supported insurance research and education organization. While NAIC is the regulator, Triple-I serves as the industry's communications and research counterpart, providing market data, catastrophe loss statistics, and consumer education materials.
• American Council of Life Insurers (ACLI): ACLI is the principal trade association for U.S. life insurers and a frequent NAIC counterparty on regulatory matters. ACLI advocates for the industry while NAIC regulates it; together they shape model laws, accreditation standards, and insurance regulatory frameworks.
• Property Casualty Insurers Association of America (PCI): PCI is the trade association for property/casualty insurers and engages regularly with NAIC on market regulation, rate filing, and homeowners market data initiatives. Comparable as an industry voice navigating the same regulatory ecosystem NAIC administers.

Regional players

• National Association of State Budget Officers (NASBO): NASBO is a membership organization for state budget officers in the U.S., structurally analogous to NAIC as a nonprofit coordination body for state-level officials. While operating in a different policy domain, NASBO mirrors NAIC's role aggregating state-level data and coordinating interstate policy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/naic
• YouTubeyoutube.com/user/NAICCommunications
• Facebookfacebook.com/National-Association
• LinkedInlinkedin.com/company/naic

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Association of Insurance Commissioners (NAIC)