The National Association of Insurance Commissioners has expanded a Web site with the aim of providing quicker service to regulators and the insurance industry.
StateBasedSystems.com simplifies the regulatory processes and reduces the workload for state insurance department staff, providing significant advantages to consumers, producers and insurers who do business with the state, according to the NAIC.
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, NAIC said.
"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."
She added that the changes eliminate 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," Ms. Richardson said.
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, NAIC said.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.