KANSAS CITY, Mo. — The National Association of Insurance Commissioners on July 14 announced that the Tennessee Department of Commerce and Insurance has licensed State Based Systems, becoming the 13th NAIC member to make SBS their back-office regulatory system of choice.

Tennessee’s selection of SBS is expected to significantly improve the functionality offered to staff in fulfilling their regulatory responsibilities. In addition, the system is designed to expand the type of services the department offers through the use of SBS and the National Insurance Producer Registry’s online tools.

“We are looking forward to the processing efficiencies and other benefits SBS will provide our staff and, in turn, Tennessee’s insurance consumers, producers and companies,” said Tennessee Insurance Commissioner Leslie Newman. “We like SBS’ flexible reporting capabilities, as well as the opportunity it provides us to keep pace with all NAIC and NIPR initiatives while holding costs down.”

In addition to Tennessee, SBS is the solution of choice in Alabama, Delaware, Florida, Iowa, Kansas, Missouri, New Hampshire, New Jersey, North Carolina, Puerto Rico, Rhode Island and Washington, D.C.

Source: NAIC