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CFO Alex Sink to Save State $420,000/Year With Electronic Licenses

7/15/2010

CONTACT: Kevin Cate, 850-413-2842
 
TALLAHASSEE—Florida CFO Alex Sink today announced that her Division of Agent and Agency Services is now making license identifications available electronically for insurance agents, adjusters and other licensees, saving taxpayers an estimated $420,000 a year.
 
“I continue to look for new and innovative ways to run government more like a business and save taxpayers money,” said CFO Alex Sink. “By allowing agents and adjusters to print their own licenses on demand, we eliminate hundreds of thousands of dollars in unnecessary costs.”
 
CFO Sink’s Division of Agent and Agency Services issues about 5,000 insurance licenses each month. The new license ID is encrypted and available for printing online at no additional cost to the licensee.  New licensees will be e-mailed when their license has been issued and is available to be printed from their MyProfile account.  The online license ID is available to print in both wallet and certificate sizes. Consumers can check the division’s web site, www.MyFloridaCFO.com/Agents, to validate the current status of any license. 
 
Last year, CFO Sink’s Division of Agent and Agency Services initiated a paperless initiative that saves an estimated $350,000 each year by streamlining the way it communicates with its licensees.  Through e-mail communication, licensees receive pertinent information in real time regarding their licenses, including continuing education reminders and changes in the law.  Confidential or enforcement information continues to be sent through regular mail.
 
CFO Sink has been an outspoken watchdog on behalf of Florida’s taxpayers.  Because of common sense cost-saving and efficiency measures taken by CFO Sink, her Department of Financial Services saved more than $5 million in 2009. Other waste-cutting measures include consolidating the Department’s 11 consumer call centers into two call centers, renegotiating existing contracts, and streamlining management, which is estimated to save taxpayers nearly $10 million. At www.GetLeanFlorida.com, citizens can offer tips on how to cut government waste and inefficiency.  For more information on CFO Sink’s common-sense waste cutting, visit www.MyFloridaCFO.com.