- SBS Producer
With the integration of NAIC and NIPR services and initiatives, and as licensing standards change and modernize, SBS Producer enables the state insurance departments to efficiently manage the producer life cycle with full regulatory control, resident and nonresident alike. External tools largely shift data entry and data/status verification responsibilities to producers, reducing errors and amplifying in-house productivity.
- Streamlined workflow with the comprehensive licensee summary
- Direct access to the NAIC State Producer Licensing Database
- Integration with NAIC's I-SITE
- Comprehensive, flexible reporting and data extract
- Integration with external continuing education (CE) tools
- SBS Continuing Education
With SBS Continuing Education, state insurance departments can complete many aspects of licensees' compliance in regard to CE requirements. This integrated external tool affords freedom from data-processing tasks and allows more accurate, real-time updating of producers' records.
- Process provider, course and instructor applications and renewals
- Flexible, user-defined reporting capabilities
- Online course approval and completion submission
- Accommodates state-specific CE requirements
- Automatically updates licensee records
- System-calculated CE compliance
- SBS Company
SBS Company provides an efficient yet thorough method of regulating company licensing for the state insurance departments. Many stages of the company licensing process are accommodated, whether accomplished piecemeal as it happens, or all at once when the process is complete and the outcome is known.
- Search for companies by old or new name
- Integration with NAIC's I-SITE
- Maintain unlimited company contacts
- Extensive and flexible reporting and data-extract capabilities
- Track and report on company deposits and audits
- Manage company mergers or changes
- SBS Consumer Services
SBS Consumer Services handles complaint, inquiry or consumer assistance case management for state insurance departments. Complete integration with SBS Company and SBS Producer allows the user to pull entity information from their state licensing database directly into the case summary.
- Allows data feeds from the NAIC's Consumer Information Source
- Comprehensive and flexible reporting and data-extract capabilities
- Fully integrated with NAIC's I-SITE
- Comprehensive case history/activity tracking
- Uploads to NAIC Complaint Database System in real time
- Streamlined workflow with the case summary page
- SBS Enforcement
SBS Enforcement provides a tool for state insurance departments to conduct and complete investigations when regulatory action is necessary, and is designed to effortlessly share data among SBS Consumer Services and SBS Investigations services. SBS Enforcement accesses protected data that is unavailable through other systems, and tracks the adjudication, penalty and restitution phases.
- Full integration with NAIC's I-SITE
- Track penalties and fines for each case
- Real-time reporting to the Regulatory Information Retrieval System (RIRS)
- Upload and attach audio/video recordings, photos and electronic documents
- Add and update multiple respondents and complainants for each case
- SBS Investigations
SBS Investigations provides the state insurance department with the ability to manage the investigation of consumer and industry fraud. Cases can be initiated from multiple tools, including the NAIC's Online Fraud Reporting System (OFRS), SBS Consumer Services and SBS Enforcement.
- Attach document, photo, audio and video electronic files to a case
- View/print a chronological activity log
- Create ticklers (with electronic reminders) for follow-up activities and deadlines
- Assign a keyword to cases for easy reporting on hot topics
- Record investigation details/results from a convenient summary screen
- SBS Correspondence
SBS Correspondence allows the user to create, store and track free-form and fixed-format correspondence. Fixed-format correspondence originates with templates created and maintained by the state; therefore, new letters can be added quickly without the need for development support. Large Volume Correspondence supports the creation of fixed-format letters used in license renewals, the distribution of notices, and so forth, to a large number of recipients with a single request.
- Initiate the creation of a single correspondence from any of the SBS service summary pages
- Attach electronic files to correspondence records
- Edit correspondence templates on the fly
- Send correspondence directly to company contacts, consumers and producers
- Include letterhead images specific to each department in letterhead templates
- SBS Revenue
SBS Revenue facilitates the tracking of many types of revenue collected by the state. SBS Revenue supports the batching of payments, as well as the allocation of a single payment across multiple payment types and entities.
- Detailed payment receipt and allocation
- Run reports to track daily reconciled deposits
- Comprehensive revenue and batch reporting
- Integrated with other SBS services, streamlining allocation of payments
- 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.
- Meet uniformity and standardization on a state and national level
- Accelerate speed to market
- Reduce filing expenses - no paper or postage!
- SBS Market Conduct Examinations
SBS Market Conduct Examinations supports a wide variety of regulatory needs when tracking market conduct examinations. Through this SBS service, the state can track all key elements — examiners, locations, costs, violations, and penalties — of a market conduct exam using SBS case management functionality.
- Track progress of case through use of various date fields
- Upload attachments and create correspondence from the case summary
- Associate related exams by adding links to the case summary pages
- Comprehensive history tracking and report creation
- 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.
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