Speed to Market Task Force
Executive (EX) Committee

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 the Interstate Insurance Product Regulation Compact and related development of national product standards. The Task Force will monitor and assist with the implementation on the various speed to market operational efficiencies that have been developed in recent years.

1. Appoint a National Standards Working Group to draft model standards for insurance products that are eligible for inclusion in the Interstate Insurance Product Regulation Compact. To improve national uniformity, recommend such standards to the Interstate Insurance Product Regulation Compact and the states for adoption. Report the results of this ongoing charge on a quarterly basis
2. Appoint an Operational Efficiencies Working Group to monitor the implementation of the various speed to market operational efficiencies that have been developed in recent years. Report the results of this ongoing charge on a quarterly basis. Specifically, the working group will:
   • Provide oversight for the merging of the Review Standards Checklists and the Product Filing Requirements Locators for life, health and property/casualty insurance coverages into a single renamed tool;
   • Monitor and assist with state implementation of the Product Filing Requirements Locators to provide a convenient electronic method for insurers to discover state regulatory product filing requirements;
   • Monitor and assist with state implementation of the Uniform Product Naming Conventions so that a common insurance product naming process is used to facilitate state product filings and the collection of information pertaining to them;
   • Monitor the results and make recommendations related to the self-certification pilot project;
   • Monitor the results and make recommendations related to the Uniform Filing Transmittal Documents;
   • Monitor and assist with development, refinement, implementation and collection of common filing metrics that provide a tool to measure the success of the speed to market modernization efforts.
   • Work to upgrade the metrics to collect information that monitors both state regulatory and insurer responsibilities for speed to market for insurance products;
   • Develop a Product Filing Examiners Handbook that contains all of the operational efficiency tools and describes best practices for state examiners with regard to the review of insurance product filings;
   • Serve as the clearinghouse for input from the SERFF Board of Directors regarding the SERFF electronic filing speed to market tool;
   • Encourage the full and complete implementation of the SERFF electronic filing speed to market tool by states and insurers.
3. Present a recommendation related to the personal lines regulatory framework to the Property and Casualty Insurance (C) Committee by the 2007 Summer National Meeting so the committee can complete its work on revisions to the NAIC model rating law(s).