North Carolina Rate Bureau

What North Carolina Rate Bureau does

North Carolina Rate Bureau (NCRB) is a non-profit, unincorporated statutory rating bureau created by the North Carolina General Assembly on September 1, 1977 under Article 36 of Chapter 58 of the General Statutes. It serves as the state's designated rating and filing coordination body for member insurance carriers operating in North Carolina, providing standardized rate filings, policy forms, circulars, and regulatory compliance support across four principal lines: workers compensation, private passenger automobile, residential property, and foster care liability insurance. NCRB operates alongside two related statutory organizations — the North Carolina Reinsurance Facility (NCRF, founded 1973) and the North Carolina Insurance Guaranty Association (NCIGA) — sharing a single headquarters at 4140 Parklake Ave, Suite 320, Raleigh, NC, and a unified digital infrastructure including a Member Services Portal (webportal.ncrb.org) and the EDGE electronic data submission system.

NCRB's technology stack is purpose-built for regulated insurance administration rather than commercial product development. Core capabilities include the Member Services Portal, which provides authenticated access to rate filings, circulars, forms, manuals, territory maps, rate deviation tools, and data reporting; the EDGE system for electronic data submissions and FTP transmission; and programmatic data exchange routed exclusively through Compensation Data Exchange (CDX) as a third-party intermediary, with no public API offered by NCRB itself. The organization maintains a Learning Center with user guides and instructional videos, a circular letter email subscription service, and integration links with industry bodies including NCDOI, NCCI, WCIO, IAIABC, ACORD, and IIANC. No proprietary AI/ML capabilities, patents, or technology products are disclosed.

NCRB is governed by a 14-member Governing Committee comprising six non-stock members, six stock members (elected by member insurance companies to three-year terms), and two non-voting members appointed by the Governor. Revenue is generated through member assessments and fees for statutory rating services under North Carolina General Statutes; pricing is not publicly disclosed. The organization is not venture-backed, PE-owned, or publicly traded, and is subject to regulatory oversight by the North Carolina Department of Insurance. NCRB, NCRF, and NCIGA are three independent non-profit statutory entities sharing administrative infrastructure and operating exclusively in the North Carolina insurance market.

Name

North Carolina Rate Bureau

Legal name

North Carolina Rate Bureau

Website

https://ncrb.org

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

51–100 employees

Short description

North Carolina Rate Bureau is a non-profit statutory rating bureau, created in 1977 by the NC General Assembly, that provides rate filings, policy forms, circulars, and regulatory compliance services to insurance carriers in North Carolina across workers compensation, auto, residential property, and foster care liability lines.

Ownership category

akta.pro rank

Headquarters

HQ city

Raleigh

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, Others

Revenue model

1. Regulatory Services to Insurance Members: NCRB provides rating bureau services, rate filings, circular communications, and regulatory compliance support to member insurance companies operating in North Carolina. Revenue is derived from member assessments and fees for services provided to the insurance industry under statutory authority.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

North Carolina Rate Bureau (NCRB) is a non-profit, unincorporated statutory rating bureau that provides rate filings, circular communications, standardized policy forms, and regulatory compliance support to member insurance companies operating in North Carolina. It delivers services across workers compensation, private passenger automobile, residential property, and foster care liability lines through a secure member web portal, enabling insurers to comply with North Carolina insurance regulations.

Product overview

North Carolina Rate Bureau operates as a collective of three North Carolina-based non-profit, unincorporated statutory organizations: NCRB (North Carolina Rate Bureau), NCRF (North Carolina Reinsurance Facility), and NCIGA (North Carolina Insurance Guaranty Association). NCRB serves as the primary rating bureau providing workers compensation, residential property, private passenger automobile, and foster care liability insurance rating services for member insurance companies. NCRF manages automobile liability reinsurance and operates the EDGE electronic data submission system. NCIGA protects policyholders from insurer insolvency losses. The three entities share administrative infrastructure including the Member Services Portal, Learning Center with user guides and instructional videos, and various web portal access points for circulars, rate filings, forms, and data reporting across all insurance lines.

Differentiator

Problem solved

Functional benefit

Brands

• North Carolina Reinsurance Facility (NCRF): A related statutory organization ensuring availability of automobile liability coverage in North Carolina, created in 1973.
• North Carolina Insurance Guaranty Association (NCIGA)

Products and services

• NCRB Workers Compensation Rating Services Rate filings, circulars, endorsement policy forms, reference library, and online tools for workers compensation insurance carriers operating in North Carolina.
• Private Passenger Automobile Rating Services Data reporting, rate filings, rate deviations, territory maps, and web portal access for manuals and forms for private passenger automobile insurance carriers in North Carolina.
• Residential Property Rating Services Circulars, web portal access for manuals and forms, territory maps, data reporting, rate filings, and rate deviations for residential property insurance carriers in North Carolina.
• Foster Care Liability Rating Services Circulars, access to web portal manuals and forms, FAQs, and rate filings for foster care liability coverage in North Carolina.
• Member Services Portal Authenticated web portal for member insurance companies to access NCRB services, submit data reporting, and manage their accounts for all rating lines.
• EDGE Electronic Data Submission System Electronic data submission system for NCRF members including circulars, documents, FAQs, training materials, and FTP transmission capabilities.
• Learning Center User guides and instructional videos for training member company staff on NCRB systems and services across all insurance lines.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Partnerships

Five partnerships are on record, tiered core and minor.

• North Carolina Reinsurance Facility (NCRF)coreStrategic or Co-development PartnerNCRF is a related statutory organization created in 1973 that operates alongside NCRB and NCIGA from the same Raleigh office. NCRF's mission is to ensure that all eligible risks can purchase auto liability insurance in North Carolina.
• North Carolina Insurance Guaranty Association (NCIGA)coreStrategic or Co-development PartnerNCIGA is a non-profit statutory organization that protects North Carolina insurance policyholders and claimants from financial losses due to insurer insolvencies. Operates from the same shared office location and website infrastructure as NCRB.
• North Carolina Department of Insurance (NCDOI)coreOthersNCRB operates under regulatory oversight of the North Carolina Department of Insurance and provides rate filings and services that are subject to DOI approval.
• National Council on Compensation Insurance (NCCI)minorOthersIndustry organization providing workers compensation services referenced in NCRB's industry links section.
• Workers Compensation Insurance Organization (WCIO)minorOthersIndustry organization providing workers compensation data standards referenced in NCRB's industry links section.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• A.M. Best: A.M. Best is a broader insurance industry data, analytics, and rating provider serving carriers, regulators, and distributors. While not a state rating bureau, its data and analytics role in the insurance ecosystem parallels NCRB's information-services function across a wider portfolio.
• Wolters Kluwer Compliance Solutions: Wolters Kluwer provides regulatory compliance, rate management, and forms filing solutions to insurance carriers across multiple jurisdictions. It competes in the broader compliance-and-forms space in which NCRB operates for North Carolina, although as a commercial vendor rather than a state rating bureau.

Direct peers

• Insurance Services Office (ISO) / Verisk: ISO, now part of Verisk, is a national advisory and rating organization providing statistical, rating, and policy form services to property/casualty insurers. It directly parallels NCRB's rate-filing and forms-manual functions across multiple states and insurance lines.
• Workers' Compensation Insurance Rating Bureau of California (WCIRB): WCIRB is a California statutorily designated rating organization providing workers compensation rate filings, classifications, and experience ratings. It is a state-level direct analog to NCRB's workers compensation function, operating under similar statutory authority and serving member carriers.
• National Council on Compensation Insurance (NCCI): NCCI is the leading national workers compensation rating and data organization, providing rate filings, statistical plans, and regulatory support to state regulators and carriers. It is highly comparable to NCRB because both serve as designated rating bureaus under statutory authority, with NCRB performing a similar role for North Carolina specifically.
• New York Compensation Insurance Rating Board (CIRB): CIRB is a New York statutorily designated workers compensation rating bureau serving insurance carriers with rate filings, classification plans, and statistical reporting. It mirrors NCRB's structure as a state-mandated, member-funded rating organization.
• Pennsylvania Compensation Rating Bureau (PCRB): PCRB is a Pennsylvania-based, statutorily authorized workers compensation rating bureau providing rate and form filings, data collection, and classifications to member insurers. It functions identically to NCRB's workers compensation line as a state-level rating bureau.

Others

• National Association of Insurance Commissioners (NAIC): NAIC is the national standard-setting and regulatory support organization for state insurance regulators. It is comparable to NCRB because it sits upstream of state rating bureaus in defining the regulatory framework that NCRB operates within, and it interacts with state bureaus on rate filing standards and uniformity.
• Compensation Data Exchange (CDX): CDX is a third-party data exchange provider that interfaces with NCRB's systems for programmatic data submissions. As NCRB's integration partner, CDX is an ecosystem enabler rather than a direct competitor, comparable in the data-infrastructure layer that supports rating bureau workflows.

Regional players

• Texas Department of Insurance - Workers' Compensation Division: Texas handles workers compensation rate filings through TDI rather than a private rating bureau, representing an alternative state-level regulatory structure. It is comparable to NCRB because it performs analogous rate-administration functions but in a different state and under a different institutional model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/north-carolina-rate-bureau

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about North Carolina Rate Bureau