The North American Industry Classification System (NAICS) is a company classification system designed through a collaboration between the United States, Canada, and Mexico. This classification method makes it possible to evaluate statistics spanning all business activity in North America. Companies are categorized and distinguished into industries depending on production methods that are either alike or comparable to one another.

The NAICS classification system is more adaptable than the SIC’s four-digit framework. It takes on a six-digit hierarchical coding tactic to categorize all economic activity within 20 separate industry categories. Five of these industries are almost exclusively manufacturers of commodities, whereas the rest of the 15 are service providers. Every business is issued an essential NAICS code that highlights its particular line of business.

The NAIC Code is found in the below-mentioned AL3 Group elements:

1. 5BPI (Basic Policy Information Group)
   Element Name –
   • Company Code
   • Group Company Code
   • National Producer Number
2. 5PPH (Prior Policy History Group)-
   Element Name – Company Code
3. 5SSG (Supplementary Name Group)
   Element Name – Company Code
4. 5FOR (Forms Group)
   Element Name – Copyright Owner Code
5. 5ORP (Other Related Policies Group)
   Element Name – Company Code
6. 5OIC (Other Insurance With Company Group)
   Element Name – Company Code
7. 5SNG (Supplementary Name Group)
   Element Name – NAICS Code
8. 6WCR (Workers Compensation Classification and Rating Group)
   Element Name – NAICS Code
9. 6RBB (Residence-Based Business)
   Element Name – NAICS Code
10. 6CPO (Commercial Lines Policy Information Group)
    Element Name – NAICS Code