Office of the Premier: FREDERICTON (GNB) – Recent changes to the Insurance Act will enable the introduction of a more efficient licensing system for the insurance industry. This will provide stakeholders with a modernized and more flexible method of obtaining their licence to work in the insurance industry in New Brunswick.
Premier Brian Gallant announced that changes to applications and forms will allow them to be completed and submitted online. The Financial and Consumer Services Commission, which regulates the insurance industry in the province, will develop an online licensing system.
Many of Canada’s top insurance firms provide services to national markets from their New Brunswick-based customer contact centres.
“The insurance industry is an important part of the contact centre sector that continues to create new opportunities and provides jobs in New Brunswick,” said Gallant, who attended the Contact NB Awards of Excellence Gala on June 18. “Together, we need to look at this sector and ask ourselves how we can expand, build, and create new opportunities for growth.”
Gallant said streamlining services will make the province more attractive to the insurance industry.
“These new efficiencies will save time and money for companies and investors, and help encourage new investment in the province,” he said.
The commission is expediting the implementation of the new licensing system to provide a more user-friendly experience and enable applicants to complete the entire application process online. The introduction of electronic filing will reduce delays and administrative costs, and increase convenience.
“We are always looking for opportunities to eliminate waste and to do things better,” said Gallant. “The creation of this new online licensing system is a prime example of how we can continuously improve the services offered and support businesses by reducing unnecessary barriers.”
The system is expected to be launched in September 2015.