NIPR Discontinues Company Specialized Report (CSR): Exploring your Options

As of June 2024, NIPR has discontinued the Company Specialized Report (CSR), which many firms have relied on for maintaining licensing and producer credentialing data. The CSR provided a single-point-in-time view of licensing, demographic, appointment, and regulatory actions for a selected population. With the discontinuation of the CSR, many carriers' current spreadsheet-driven compliance processes may be forced to shift towards more modern solutions to manage their compliance processes more effectively.

For companies managing producer suitability data manually through spreadsheets or paper, the CSR represented a traditional approach. However, reliance on outdated methods poses risks such as delayed detection of violations or expired licenses, potentially leading to compliance issues.  Organizations can seize this moment to overhaul their compliance infrastructure, adopting technologies that integrate seamlessly with existing systems. Key considerations include use of new technologies, like AI and ML, desired data sets, self-service functionality and user roles.
In response to the CSR's retirement, carriers will need to consider whether now is the time to continue with possible out-dated, manual processes that may be holding them back or invest in new technology to help stay compliant and increase growth.

If you’re beginning to explore investments into your compliance and onboarding systems, there are some superior products out there tailored to managing your compliance experience.

The ability to effortlessly recruit, onboard, license, appoint, and train your sales teams with  streamlined processes and easily integrate with the background check vendors are key components you should be examining. Optimize your onboarding flow with features like social media outreach, candidate tracking, compliance (JIT), background check integration, and training—all in one seamless platform.

• Daily updates from NIPR for accurate real-time compliance status.
• Automated compliance workflows for appointment submissions, Just-in-Time appointments, and terminations.
• Notifications to encourage candidates and carriers to take action and stay on top of compliance activities.
• Integrated learning management and training modules.
• Robust business reporting capabilities to empower data-driven decision-making.
• Integration tools allowing easy access for pulling data back into your existing system.