NAIC Launches New State-based Systems Site

The National Association of Insurance Commissioners (NAIC) has created a new state-based systems (SBS) Web site, which is designed to help insurance regulators and industry customers access services more quickly. The new Web site can be found at www.statebasedsystems.com. It is expected to simplify the regulatory processes, reducing the workload for state insurance department staff, along with providing advantages to consumers, producers, and insurers doing business with the state.

Through SBS, insurers can apply electronically for licenses, verify license status, and print copies of licenses without having to send letters, file forms, or talk with someone on the phone.

"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," says 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, and 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 the application for license processing of producers and companies. SBS also assists the states in responding to regulatory concerns and consumer-initiated inquiries and/or complaints and remaining compliant with national uniformity initiatives.