The National Association of Insurance Commissioner says it and an affiliate are making changes that could speed up the producer licensing process.
The affiliate, the National Insurance Producer Registry, will improve the way its licensing system meshes with the NAIC’s State Based Systems products, according to the NAIC, Washington.
When producers submit complete NIPR applications to a state that uses the SBS system, the state can receive and process the applications almost immediately, then send approvals back through NIPR to the producers within a few minutes, the NAIC says.
The system can handle renewal applications, appointments, terminations and address change requests as well as original applications.
The new process replaces a process that can take 24 to 48 hours, the NAIC says.
Jurisdictions now using the SBS include Alabama, Delaware, Florida, Illinois, Iowa, Kansas, Missouri, New Hampshire, New Jersey, North Carolina, North Dakota, Puerto Rico, Rhode Island, Tennessee and the District of Columbia.