State of SC: South Carolina Implements State Based Systems initiative
National Association of Insurance Commissioners (NAIC) officials said South Carolina has become the 29th state to implement the State Based Systems (SBS), a suite of technology solutions.
SBS provides a comprehensive set of regulatory tools tailored to the requirements of NAIC members. Its use increases the efficiency of state insurance department operations.
“SBS enables us to more efficiently handle agent licensing applications while improving customer service for the more than 295,000 licensees who are licensed to do business in our state,” Raymond G. Farmer, South Carolina Department of Insurance director and NAIC vice president, said.