NAIC Announces New State Based Systems Web Site
|October 18, 2006|
StateBasedSystems.com Helps Simplify Regulatory Process
National Association of Insurance Commissioners
KANSAS CITY, MO – The National Association of Insurance Commissioners (NAIC) rolled its new State Based Systems (SBS) Web site.
StateBasedSystems.com is designed to help insurance regulators and industry customers access services more quickly via SBS. It simplifies the regulatory processes, thereby reducing the workload for state insurance department staff, providing significant advantages to consumers, producers and insurers who do business with the state.
Through SBS, customers can electronically file complaints, apply for licenses, verify license status and print copies of licenses without having to send letters, file forms or talk with someone on the phone, cutting down on costly delays.
"The expansion of the SBS Web site greatly increases the value of our online services for consumers. It provides a single access point for not only New Hampshire's data and services, but for multiple jurisdictions," said Barbara Richardson, Director of Operations for the New Hampshire Department of Insurance. "As SBS online resources continue to grow, we see it as a key tool for our internal staff and state consumers. It eliminates paper processing, and the delays associated with manual processing, ultimately providing producers and consumers in our state with better customer service."
Four states, including New Hampshire, as well as the District of Columbia, currently use SBS to process company and producer licensing, market conduct, consumer services, enforcement, and revenue management activities. State regulators rely on its comprehensive Web-based application for efficient and expeditious license processing of producers and companies. SBS also assists the states in more effectively responding to regulatory concerns and consumer-initiated inquiries and/or complaints, and remaining compliant with national uniformity initiatives.