July 10, 2017

Compliance Admins: Are You Stuck Between a Rock and a Hard Place?

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As a compliance administrator, it can be nearly impossible to keep everyone happy. You’re constantly walking a (very) thin line between upsetting project managers who are on tight deadlines to get vendors on the project and keeping vendors, who often don’t understand the compliance process, happy and engaged.

All too often you’re the “middle man”, who has to deal with stakeholders and vendors when they get impatient, and it can seem unfair when those you’re working to protect add unnecessary pressure. You know better than anyone, however, that if something goes wrong, it comes back to them (and you) and could severely impact the organization. It’s easy to become overwhelmed and frustrated during the process of insurance tracking.

Making Everyone Happy = Lost Time & Missed Steps

If your priority is to keep everyone happy all the time, then it’s likely that you’re falling behind on certificate tracking, or missing critical steps in the process. You’re tasked with going through the entire process of collecting certificates, endorsements, and other insurance documents, but that’s just the start of the process. On top of that, you have to ensure that policies aren’t cancelled, insurance coverage isn’t reduced, that your vendors and contractors are maintaining the minimums required, and that you are proactively reaching out and getting new documents when the renewal date comes up.

All of those steps are required, so if you get behind with certificate tracking, projects can be delayed or even stopped, which affects other stakeholders on the team and can cause them to be even more upset. What if there was a tool that could help you keep up with certificate tracking—without manually having to do it yourself or wading through piles of paperwork? Are you ready to escape from that tough spot and transform your current process to eliminate paperwork, automate processes with vendors’ agents, and work with a professional team that has vast experience in the insurance industry?

Ready to Stop Being Stuck Between a Rock and a Hard Place?

Certificate of Insurance Management Solutions such as myCOI exist for one reason: to help you handle the everyday tasks and associated stresses of managing certificates and protecting your company against underinsured claims, costly litigation and failed audits.

myCOI’s software is an easy-to-use, cloud-based solution developed and supported by a team of insurance professionals and is built on a foundation of insurance industry logic to automate the COI communication process and ensure you remain protected. Best yet? myCOI automatically engages with vendors’ agents to help you streamline the paperwork process and take the manual pain out of compliance.

Ready to Learn More?

Interested in learning more about their insurance tracking services, or want to see myCOI in action? Request a product demo or sign up for our newsletter to stay in the know.

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