October 20, 2016

Hate Bugging Contractors For Certificates of Insurance? You’re Not Alone.

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Believe it or not, our team understands how difficult and frustrating it can be to constantly be asking contractors for their certificates of insurance. And we also can relate to the frustration you experience when it seems that the certificate is never right the first time. In fact, it might even take 2-3 attempts (at least) for you to ensure that you have all of the policy information, endorsements, and have verified that the 3rd party vendor or subcontractor is indeed compliant.

Chasing Down Contractors is Time Consuming

The feedback that we hear the most about certificate of insurance tracking is that it’s not just the act of recordkeeping that is the time-consuming part. Of course, you have the multiple systems that you have to use to track whom you need to reach out to, whose insurance policy is due for renewal, and who is currently compliant or in the compliance review process. And yes, you probably rely on a manual procedures for at least part of that current work. But we understand that’s only the start as there is significant work (and time) involved in actually chasing down all those involved to get the certificates of insurance themselves.

Certificate of insurance-related duties aren’t just about making sure you obtain and keep that piece of paper recorded and updated at all times. It’s also about tracking down agents, calling vendors and contractors—often multiple times. And on top of that, all of these steps need to be successfully checked off the to-do list without pausing business operations. Does that sound familiar?

Certificate Duties Are Important

It’s not at all uncommon for the most overworked person in the office to get tasked with the job of tracking down the certificate of insurance. What your manager or the executive team probably doesn’t understand, though, is that it’s a huge task to gather certificates, and not only a time consuming one, but a process that if not done correctly can become a huge liability to the organization. All that to say, the job of compliance is extremely important to the ongoing success of a business.

What if there was a way to streamline the process by connecting your end of things with the companies you collect certificates from and the agents involved?

Through a more direct line of communication to the person who understands insurance and the issues that crop up with certificates of insurance, you can avoid the telephone game and reliance on the vendor who probably doesn’t understand insurance either—especially enough to keep your best interests in mind.

By automating the process and connecting everyone into one central system, you can say goodbye to all the paper trails, take care of each and every certificate in no time, and relax knowing your business is better protected from risk. Isn’t it time to automate and save all that time spent on chasing down 3rd party vendors and subcontractors that are in the pipeline?

It’s Possible to Stop Bugging Contractors For Certificates of Insurance

Simplify how you track certificates of insurance and reclaim the time you’re currently wasting on all of those manual processes. Instead of worrying about coordinating different systems, what if there was one software system that integrated and streamlined the entire process? Imagine a system that not only eliminated data entry for tracking policy dates, but also helped you actually make sure you’re compliant and up-to-date.

Insurance Tracking Solutions like myCOI exist for one reason: to help you handle the everyday tasks of managing certificates of insurance and protecting your company against underinsured claims, costly litigation and failed audits. The 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 certificate of insurance communication process and ensure you remain protected.

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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