Speed to Market (EX) Task Force
Executive (EX) Committee

2011 Charges
The mission of the Speed to Market (EX) Task Force is to serve as the NAIC focal point for modernization of the insurance product filing and review processes. The Task Force will monitor the development and implementation of speed to market operational efficiencies and will support the development of national standards in conjunction with the IIPRC. The Task Force also will support IIPRC initiatives that require uniformity and policy changes within the states.

Ongoing Support of NAIC Programs, Products or Services:

1. Provide a forum for the review, discussion and recommendation regarding rate and form filing needs as impacted by the federal Patient Protection and Affordable Care Act (PPACA), including:
   1. Provide policy support and guidance regarding SERFF enhancements necessary for the states to comply with state law, federal law and/or contractual obligations—Essential
   2. Provide a discussion forum for the review of the Rate Filing Disclosure Form required to be filed with the U.S. Department of Health and Human Services (HHS) for filings that exceed an unreasonable threshold (as defined by HHS)—Essential
   3. Provide input and guidance to other NAIC committees related to PPACA—Essential
2. Appoint a National Standards Working Group to coordinate with/work jointly with the IIPRC Interstate Compact National Standards Working Group in accelerating the drafting of national standards for insurance products that are eligible for inclusion in the IIPRC, with the emphasis on group life, individual annuity, group annuity, disability income and long-term care insurance product standards. Report the results of this ongoing charge at each national meeting—Essential
3. Appoint an Operational Efficiencies Working Group to oversee the implementation and ongoing maintenance/enhancement of speed to market operational efficiencies that have been adopted. Report the results of this ongoing charge at each national meeting—Essential
   1. Update the speed to market assessment tool that includes a nationwide summary and individual state summaries of speed to market compliance; report at each national meeting.
   2. Facilitate proposed changes to the Product Coding Matrices (PCM) on an annual basis, including the review, approval and notification of changes. Monitor, assist with and report on state implementation of any PCM changes—Essential
   3. Facilitate proposed changes to the Uniform Transmittal Document (UTD) on an annual basis, including the review, approval and notification of changes. Collaborate with the SERFF Board to ensure incorporation of UTD changes in SERFF—Essential
   4. Use SERFF data to develop, refine, implement, collect and distribute common filing metrics that provide a tool to measure the success of the speed to market modernization efforts, with an emphasis on data that monitors state regulatory and insurer responsibilities for speed to market for insurance products and ensure full and complete communication of any change in filing requirements—Essential
   5. Facilitate the review and revision of the Product Filing Review Handbook, which contains an overview of all of the operational efficiency tools and describes best practices for industry filers and state reviewers with regard to the rate and form filing and review process—Essential
   6. In collaboration with the National Treatment and Coordination (E) Working Group, evaluate synergies between corporate changes/amendments and rate and form filing review and approval to improve efficiency—Important
   7. Serve as the clearinghouse for input from the SERFF Board regarding the SERFF electronic filing speed to market tool—Essential
   8. Provide oversight in evaluating filing efficiency issues for regulators and the industry—Important
      • Continue work on the development of uniform rate and form terminology for dispositions, filing objections, filing statuses and deemer provisions designed to further advance speed to market for rate and form filing and review.
      • Survey the states and industry to gather information regarding common filing issues and develop recommendations for resolution.
4. As desired by the IIPRC, encourage state participation in the IIPRC and receive reports, at each national meeting, of legislative activity for non-compacting states—Essential
5. As desired by the IIPRC, assist with marketing efforts promoting industry use of the IIPRC speed to market tool—Essential
6. As desired by the IIPRC, participate in dialogue with active supporters of the IIPRC—such as the National Conference of State Legislators, National Conference of Insurance Legislators, state executive branch organizations, National Governors Association and National Association of Attorneys General—to provide background information and reasons in favor of all states joining the IIPRC—Essential