Why SBS? SBS was designed and developed with a focus on the needs and best interests of state insurance departments. The aim of SBS is to streamline every critical process, to increase productivity, and to decrease the cost of doing business. The full balance of services and careful consolidation of data that SBS offers provides all system users immediate, direct access to the information you need in every facet and function of insurance regulation.
SBS Producer SBS Producer enables the state insurance department to efficiently organize and manage individual and business entity licenses within the state. SBS Producer allows for cascading status changes, the creation and attachment of electronic correspondence, the prevention of changes to the records of licensees under investigation, the validation of license in good standing in a resident state, and more.
SBS Continuing Education SBS Continuing Education provides the state insurance department with the ability to process provider applications, new course applications, course completions, and associate credits for completed courses with the producer’s licensing record. SBS Continuing Education also allows continuing education providers to submit new courses for state approval, course rosters with program completion information, new instructors, and more online.
SBS Company SBS Company affords the state insurance department an efficient system for the management of company licenses. SBS Company includes a broad assortment of tools designed to support company licensing processes related to company name reservations, new company applications, renewal of existing licenses, mergers, liquidations, company updates, and more.
SBS Complaints SBS Complaints is designed to save time by reducing mouse clicks and simplifying the data save process. SBS Complaints provides the state the ability to track consumer-related assistance requests, inquiries, and complaints. And, once a consumer complaint is closed, SBS Complaints automatically uploads the data to the NAIC Complaints Database System (CDS) in real time.
SBS Enforcement SBS Enforcement provides the state department with the necessary tools and information to conduct and complete case investigations. SBS Enforcement is fully integrated with NAIC I-SITE, providing access to data unavailable through other systems. SBS Enforcement is also designed to allow for the effortless sharing of data among SBS Complaints and SBS Fraud as cases evolve and change.
SBS Fraud SBS Fraud will provide the state insurance department with the ability to manage the investigation of consumer and industry fraud. SBS Fraud will be fully integrated with the NAIC’s Online Fraud Reporting System (OFRS) as well as SBS Complaints and SBS Enforcement. Moreover, SBS Fraud will feature a robust tool set which ensures access to all available information necessary.
SBS Correspondence SBS Correspondence allows the state to create, store and track free-form and fixed-format correspondence. Users may generate mail recipients based on specific data and include data dynamically retrieved from SBS databases. SBS Correspondence includes the capability to e-mail and allows users to create correspondence templates without the assistance of the NAIC or state IT staff.
SBS Revenue SBS Revenue allows for the tracking of all types of incoming revenue including producer and company licensing fees, enforcement fines, and premium tax collections. Key features include the ability to allocate a single check across multiple entities and the ability to compare expected to actual premium tax payments.
SBS Rate and Form SBS Rate and Form utilizes the NAIC membership approved SERFF system. SBS is fully integrated with SERFF v5, providing state filing reviewers access to company licensing information needed to ensure proper licensing prior to review. SBS Rate and Form’s employment of SERFF eliminates the need for duplicate rate and form filing systems, without sacrificing the flexibility state insurance department staff need.
I-SITE Integration All SBS services are completely integrated with NAIC I-SITE, an online interface designed for state insurance departments to obtain comprehensive financial, market conduct, producer licensing, and securities information. I-SITE offers regulators access to NAIC database information including Summary Reports, Batch Reports, and Detailed Lookup Reports. The integration of SBS and I-SITE ensures the seamless access to data between I-SITE and SBS.
