As a compliance administrator, it’s hard to keep your head above water. You’re constantly tasked with many things outside of your critical role of ensuring your contractors and vendors are compliant, so it’s easy to get sidetracked, overwhelmed, and even frustrated at the process. On top of that, if no one else knows how to do your job, then it’s difficult to step away and enjoy time outside of the office, or even take vacation days. There’s always that nagging feeling that something hasn’t been done, or that a compliance emergency could come up without notice.
Of course, you’re already going through the entire process of collecting certificate of insurance documents, endorsements, and other insurance policy paperwork, 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. Phew, that’s a lot to keep track of. Do you worry about those things? Do you wish there was a way to not just react to compliance situations, but actually be proactive?
Simplify Renewals & Know What’s Coming
If you’re always working from behind, it’s hard to get ahead. And unfortunately, that recipe does not lead to long-term success, especially in the business world where accidents can happen without warning or the ability to prepare. What if you could use insurance tracking services that help you know exactly when certificates are up for renewal along with which contractors have outstanding action items so you can know what’s coming and plan accordingly? If you knew how to manage your time better, how much more could you get done, how better prepared would you be, and how much less stress would you experience? We’re guessing the answer is “a lot”.
With insurance tracking services like myCOI’s certificate of insurance tracking software, compliance administrators can eliminate manual processes that eat away at their day and are error prone. Now, admins can replace those old processes with an efficient, effective, and a much more timely COI solution.
Be Prepared: Stop Putting Out Fires
Insurance tracking services exist for one reason: to help you handle the everyday tasks of managing certificates and protecting your company against underinsured claims, costly litigation and failed audits, all while helping you to become proactive instead of reactive. Why wait until something goes wrong to start tracking and managing your certificates? Implementing a management solution can save your company thousands of dollars in potential legal battles, ensure you’re properly covered, and eliminate wasted time on manual processes.
Companies like myCOI offer an easy-to-use, cloud-based solution developed and supported by our team of insurance professionals who have been in your shoes. Simplify your certificate of insurance tracking and protect your organization with the industry’s leading certificate tracking software and team of insurance professionals. myCOI’s software was designed to provide your company a single place to view your COIs, compliance, and risk reporting, for your vendors, suppliers, tenants, subcontractors, franchisees, and carriers.