NAIC Releases Cloud Modernization Fiscal for Public Comment

MILWAUKEE, Wisconsin, March 24 -- The National Association of Insurance Commissioners issued the following news release:

The National Association of Insurance Commissioners (NAIC) announced today it has released for public comment a fiscal impact statement related to the NAIC's strategic plan, State Ahead.

The fiscal focuses on the NAIC's next step in its goal of transitioning its applications to the cloud, a process that began in 2017 with the NAIC membership's approval of a fiscal representing the first phase of the transition to the cloud.

"The NAIC will benefit greatly by moving to the cloud because it will create more efficient processes concerning how we safeguard consumers," NAIC CEO Michael F. Consedine said. "We also expect to see improved system availability as well as a cost savings over time."

"The transition to the cloud is one of the key components of the State Ahead strategic plan. Our goal is to be transparent with the request for the necessary resources to make the transition a success and we value any feedback from the public," said Andy Beal, NAIC Chief Operations Officer and Chief Legal Officer.

Written comments or questions should be addressed to the NAIC and forwarded to the attention of Jim Woody at jwoody@naic.org by April 5.

About the NAIC

The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. For more information, visit www.naic.org.