The Arkansas Insurance Department has completed the initial phase of the State Based Systems (SBS) implementation process, making it the latest state to take advantage of the National Association of Insurance Commissioners's (NAIC) regulatory-based electronic application.
“We see this as just the first step in transforming our systems and processes here at the Arkansas Insurance Department,” said Arkansas Insurance Commissioner Jay Bradford.
“The overall goal of the implementation is to provide our insurance producers with a wide variety of online benefits and resources from SBS such as real-time continuing education, tracking, license printing and license status verification tools.”
NAIC president and North Dakota Insurance Commissioner Adam Hamm added: “Developing innovative online tools are a primary focus of the NAIC.”
“Providing effective online and back-office services, such as those offered by SBS, allows the insurance business and regulatory arenas to become increasingly more effective and productive.”
SBS is also the system of choice in Alabama, Alaska, Arizona, 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, Tennessee, US Virgin Islands and West Virginia.
Limited SBS services are also licensed by South Carolina and Virginia.
