If you are an independent insurance agent, then you know that you have a lot to do on your own. Without the backing of a national issuer, you have to fight an uphill battle to keep your agency solvent. You need an advantage or, in the least, assistance to even the playing field.
Agency management systems for insurance can automate typically routine tasks that take too much time for people to manually complete. Electronic insurance systems can also reduce the number of errors that occur.
Compliance managers and administrators have many tasks on the to-do list other than collecting certificates of insurance (COI) for every vendor and contractor—which itself can
If you’re in construction, you’ve probably managed your fair share of certificates of insurance (COIs). COIs should be required from every party working or stepping on a
Valid, compliant certificates of insurance are the primary tools companies can use to control risk, especially if they hire third parties such as subcontractors. Incorrect and fraudulent COIs are tools for third parties who want to hide their lack of proper coverage and want to remain employed.
Estimates show less than half of companies actively track TCOR. However, by not assessing risk and the associated costs, companies ultimately create more liability for themselves.