New York Compensation Insurance Rating Board

What New York Compensation Insurance Rating Board does

The New York Compensation Insurance Rating Board (NYCIRB) is a non-partisan, non-profit, unincorporated association of insurance carriers operating in New York State, including the State Insurance Fund. It is the statutorily designated rating organization for the New York State workers' compensation insurance market, with a mandate to collect payroll, premium, and loss data from carriers, perform actuarial analysis to determine adequate loss cost structures, and file aggregate loss cost recommendations annually with the New York State Department of Financial Services. NYCIRB also publishes the canonical classification codes, rules, and experience rating plans used across the state's workers' compensation ecosystem.

NYCIRB operates a suite of web-based tools for its carrier members, brokers, and employers. The product portfolio includes Data Genie (an IBM Cognos-powered business intelligence platform for ad-hoc queries and benchmarking), Mod Estimator (experience rating calculation), Manage Data (policy and unit statistical report submission), Class Digest 2.0 (classification code management), Digital Library WCEL (reference documentation), Forms, and the CPAP program. Distribution is exclusively through the member portal on nycirb.org.

The organization's revenue model is based on member assessments paid by insurance carriers operating in New York State, functioning as a recurring subscription-like funding stream rather than direct transactional fees. Pricing is not publicly disclosed. NYCIRB is headquartered at 875 Third Avenue, Floor 8, in midtown Manhattan, serves exclusively the New York State market, and operates as a non-profit governed by its carrier membership with no parent company or subsidiaries.

Name

New York Compensation Insurance Rating Board

Legal name

New York Compensation Insurance Rating Board

Website

https://nycirb.org

Company type

Private

Founded year

1914

Operating status

Operating

Headcount range

101–250 employees

Short description

The New York Compensation Insurance Rating Board is a non-profit association designated as the rating organization for New York State workers' compensation insurance, funded by carrier member assessments and filing annual loss cost recommendations with the NYS Department of Financial Services.

Ownership category

akta.pro rank

Product category

Insurance Rating Services

NAICS

Insurance Carriers and Related Activities (524)

akta.pro industry

PRIMARYFSAJAEAH

Managed Workers’ Compensation (Loss Control, Claims & Return-to-Work Programs)

Financial & Insurance/Insurance — Motor, Property & Casualty/Workers’ Compensation Insurance

SECONDARYHLAEALAL

Workers’ Compensation & Occupational Health TPA

Healthcare & Life Sciences/Health Insurance & Managed Care/Third-Party Administration (TPA) & Administrative Services Only (ASO)

Keywords

• Workers compensation rating
• Loss cost filings
• Insurance rating organization
• Actuarial analysis services
• Classification codes

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure

Revenue model

1. Member Assessments: As a non-profit unincorporated association of insurance carriers, NYCIRB is funded through assessments paid by member insurance carriers operating in New York State

Distribution channels1 record

Marketing channels5 records

Core offering

NYCIRB is the designated rating organization for New York State workers' compensation insurance, operating as a non-partisan, non-profit unincorporated association of insurance carriers. It collects payroll, premium, and loss data from member carriers, performs actuarial analysis to develop adequate loss cost structures, and files loss cost recommendations with the New York State Department of Financial Services. The organization also publishes classification codes, rules, and experience rating plans, and delivers web-based tools for data submission, experience rating estimation, and benchmarking.

Product overview

New York Compensation Insurance Rating Board (NYCIRB) is a non-partisan, non-profit, unincorporated association of insurance carriers that operates a suite of online tools and services for the workers' compensation industry. The core offerings include Data Genie (IBM Cognos-powered business intelligence for ad-hoc queries and benchmarking), Mod Estimator (experience rating calculations), and Manage Data (policy and statistical report management). NYCIRB also provides Forms, a Digital Library, Learning Center for education, Forums for community engagement, and Loss Cost Filings services. The organization performs data collection (payroll, premium, and loss data from carriers), actuarial analysis to develop adequate loss cost structures, and publishes filings and research with the New York State Department of Financial Services.

Differentiator

Problem solved

Functional benefit

Brands

• Data Genie: An IBM Cognos powered business intelligence tool providing members with ad-hoc query and benchmarking capability.
• Mod Estimator
• Manage Data
• Class Digest 2.0
• Digital Library WCEL
• CPAP

Products and services

• Data Genie
• Mod Estimator
• Manage Data
• Loss Cost Filings
• Class Digest 2.0
• Digital Library WCEL
• Forums
• Learning Center
• Forms
• Manage Ownership

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• State Insurance FundcoreStrategic or Co-development PartnerThe State Insurance Fund is a member of NYCIRB as an insurance carrier. The State Insurance Fund is a New York State government agency that provides workers' compensation insurance to employers.
• NYS Department of Financial ServicescoreOthersNYCIRB makes annual filings with the New York State Department of Financial Services relating to aggregate loss cost levels for workers' compensation insurance.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• National Council on Compensation Insurance (NCCI): NCCI is the leading national ratemaking and data analytics organization for workers' compensation, serving most U.S. states. It is the most direct functional peer to NYCIRB, performing analogous loss cost analysis, classification, and experience rating work at a multi-state scale.
• Workers' Compensation Insurance Rating Bureau of California (WCIRB): California's designated private rating organization for workers' compensation insurance. WCIRB is a state-level structural analog to NYCIRB — both are designated ratemaking bodies performing loss cost filings with their respective state regulators for WC.
• Workers' Compensation Insurance Organizations (WCIO): WCIO is the national industry association that develops and maintains the workers' compensation classification system used across states. It is a direct peer in standards-setting and classification infrastructure that complements NYCIRB's role in New York.

Broad incumbents

• ISO (Insurance Services Office) / Verisk: ISO, part of Verisk, provides broad advisory, rating, and statistical services across P&C insurance lines including workers' compensation. It is a broader incumbent that overlaps with NYCIRB's ratemaking and statistical services but across many lines and states.

Others

• Aon: Global insurance brokerage and advisory firm with significant workers' compensation practice. While not a rating bureau, Aon is a relevant ecosystem participant that consumes and influences WC rating data and advisory outputs similar to those NYCIRB produces.
• Marsh McLennan: Major insurance brokerage and risk advisory firm with a workers' compensation consulting practice. Marsh is an adjacent participant in the WC market that uses and competes for advisory influence alongside rating bureaus like NYCIRB.
• New York State Insurance Fund (NYSIF): New York State government agency that provides workers' compensation insurance and is itself a member of NYCIRB. NYSIF is an ecosystem participant on both the carrier and (implicitly) the regulatory side of NY's WC system.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/NYCIRB

Revenue estimate

Valuation estimate

Number of profiles

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 New York Compensation Insurance Rating Board