LAST UPDATED: 03/23/2022
SERFF Modernization project has been approved by NAIC membership and will begin in March of 2022. It is estimated to be a three year endeavor delivered in multiple phases.
The overarching goal of the modernization is to gain operational efficiencies while taking advantage of technology and innovation opportunities available today. The process improvements envisioned in the transition stages, bolstered by advanced technology solutions, will improve rate and form filing efficacy, which in turn will improve product speed to market. The new system will be easier and more intuitive to use, implement quality control checks to prevent incomplete filings, enhance communications between filers and reviewers, and provide access to data more easily. In the end, filings will be made more quickly and with fewer errors, enabling regulators to review the filings more easily and provide feedback in a streamlined manner captured by the system. The new system will include an improved user interface; modernized technical architecture; better data management to allow for easier reporting and data analysis; and an API layer to allow for easier integration with other partners and tools.
Further information on the project is being prepared to help users, stakeholders, and interested parties understand and anticipate impact.