FOR IMMEDIATE RELEASE
South Carolina Joins SBS
WASHINGTON, D.C. (May 04, 2016) — The National Association of Insurance Commissioners (NAIC) today announced that South Carolina has licensed State Based Systems (SBS) as its regulatory system.
"We are excited to expand our use of SBS and fully implement SBS to support all our insurance regulatory functions," said Ray Farmer, South Carolina Insurance Director. "We look forward to implementing the latest version of the software and taking advantage of all of the functionality the new system offers."
SBS is a back-office software system that offers services for producer licensing, company licensing, consumer services, enforcement, fraud, exam tracking and revenue management. Offered as a benefit of NAIC membership, SBS includes advanced features including document management, correspondence creation and tracking and flexible report.
"As a long-standing SBS licensee, I am pleased South Carolina is now taking full advantage of all SBS has to offer," said John M. Huff, NAIC President and Missouri Insurance Director. "SBS has provided significant value to our department by giving us the opportunity to make key processes more efficient which in turn provides my staff more time to focus on protecting Missouri consumers."
In addition to South Carolina, SBS is the system of choice in Alabama, Alaska, Arizona, Arkansas, 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.
For more information about SBS, visit www.statebasedsystems.com