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Hawaii 31st NAIC Member to License State Based Systems
WASHINGTON (July 13, 2020) – The National Association of Insurance Commissioners (NAIC) today announced the State Based Systems (SBS) implementation for Hawaii, making it the 31st NAIC member to implement SBS. SBS is a web-based application that helps streamline license processing, insurance education tracking, case management, and revenue tracking.
The electronic system enables state insurance departments to more efficiently and effectively process license applications, renewals, inquiries, complaints, enforcement actions, and more with a minimum of effort while remaining compliant with national uniformity initiatives.
“Implementing SBS while also offering more online applications via the National Insurance Producer Registry (NIPR) are important steps in making our individual and company licensing work more efficient,” said Hawaii Insurance Division Commissioner, Colin M. Hayashida. “The two work as a cohesive unit focused on productivity and streamlining critical licensing processes. I expect Hawaii licensees and consumers to see a benefit from our SBS implementation.”
“We are pleased to add Commissioner Hayashida and his staff onto the SBS technology platform,” said NAIC President and South Carolina Department of Insurance Director, Ray Farmer. “SBS offers real value to NAIC members by being a conduit for collaboration, which in turn drives SBS member states to learn from one another and become more uniform in their licensing and consumer protection processes and initiatives.”
In addition to Hawaii, SBS is currently the system of choice in Alabama, Alaska, Arizona, Arkansas, Connecticut, Delaware, the District of Columbia, Florida, Illinois, Iowa, Kansas, Maryland, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Carolina, Tennessee, U.S. Virgin Islands, West Virginia, and Wisconsin. Limited SBS services are also licensed by Virginia.
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.