SBS is an electronic system developed by the National Association of
Insurance Commissioners (NAIC) in partnership with State Insurance
Departments. The purpose of the SBS initiative is to provide a comprehensive,
Web-based application for use by state regulators in support of all insurance
regulatory functions. Our goal for SBS is to enable your state insurance
department to more efficiently and effectively process license applications,
renewals, inquiries, complaints, enforcement actions, etc. with a minimum of
effort while remaining compliant with national uniformity initiatives. Furthermore,
SBS services are intended to enhance communication between state insurance departments
and consumers, producers and insurers through self-help services that eliminate
the need for phone calls, e-mails and letters. SBS utilizes Web technology and
is specifically designed to reduce system development and deployment costs in
meeting the needs of multiple states with a single system.
SBS is the single solution that can facilitate the accomplishment of state
insurance department objectives in the most cost effective manner, providing
full integration with other NAIC products and services, without requiring
duplicate processing or data storage. SBS, without question, will enable you
to:
Create time
Amplify resources
Reduce cost
Simplify business
The NAIC has nearly 40 years of proven experience working with state
insurance departments in building systems that effectively support their
regulatory activity. SBS is supported by a staff with more than 200 combined
years of experience who are devoted to supporting insurance regulators with
back-office processing needs.
Headquartered in Kansas City, Missouri, the National Association of Insurance
Commissioners (NAIC) is a voluntary organization of the chief insurance
regulatory officials of the 50 states, the District of Columbia and the five
U.S. territories. The NAIC’s overriding objective is to assist state insurance
regulators in protecting consumers and helping maintain the financial
stability of the insurance industry by offering financial, actuarial, legal,
computer, research, market conduct and economic expertise. Formed in 1871,
the NAIC is the oldest association of state officials. For more than 135
years, state-based insurance supervision has served the needs of consumers,
industry and the business of insurance at-large by ensuring hands-on,
frontline protection for consumers, while providing insurers the uniform
platforms and coordinated systems they need to compete effectively in an
ever-changing marketplace.
