Individuals and organizations applying for new insurance licences in New Brunswick will soon be able to apply online via the Financial and Consumer Services Commission’s (FCNB) new portal. FCNB developed an online system to respond to industry’s evolving needs.
The portal will allow individuals to complete and submit online new applications, forms and payments required to become licensed. The first phase of the portal was recently completed. Industry stakeholders have been asked to conduct testing and provide feedback prior to the official launch, expected to take place on Oct. 30.
“We are excited about the new functionality that this system will bring to our stakeholders,” says David Weir, deputy director of insurance, in a statement. “The new system is expected to reduce delays and increase convenience for those selling insurance products to New Brunswickers. Applicants will also be able to check the status of their application online.”
Any person who carries on the business of an insurance agent, broker, adjuster or damage appraiser in New Brunswick, whether or not that person is the resident of province, must have a valid licence issued from FCNB. This applies to all insurance business, whether it is done in person, in writing, over the telephone or online.
The new system is part of a multi-phase project with different services that will be brought online over time, the FCNB says. Later phases will cover renewals for existing licencees, insurer registration and other processes. Other services are expected to be completed by late 2016.
With the introduction of the new online system, the use of paper forms for applicants will be phased-out over time, except in cases where the applicant is unable to use the online system.
“We have created user resources, including frequently-asked questions and instructional videos, for the portal to help users transition to the new system,” adds Weir.
The portal is available at https://portal.fcnb.ca.