October 18, 2017

Insurance tracking with a hammer?

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Complacency with compliance can be costing you more than you think. Learn how to modernize insurance tracking with myCOI’s team of insurance professionals.

Hammers are great but nail guns are even better for doing a big job. The right tools can make any job easier. In the world of insurance tracking and compliance, time is money—quite literally—and using the wrong tool is wasting both.

Think about your current insurance tracking process. Is it tedious, time consuming, or subject to human error? Maybe your process is manual, performed by an admin with little-to-no insurance tracking expertise. Their typical process includes multiple steps such as repeatedly emailing vendors, calling insurance agents, creating sticky note reminders, and reviewing certificates to finally determine compliance. And then repeating the whole process whenever a certificate of insurance is up for renewal.

Or, perhaps your organization’s process is slightly more sophisticated, powered by your accounting software in a clunky, complicated system that only one person knows how to operate. On the surface, it appears to be working, but upon digging deeper, the flaws are still the same.

To use a construction analogy, the processes described above are similar to using a hammer instead of the much more precise nail gun. It doesn’t make sense, does it? Let us introduce a better way.

Which is Better: Hammer Or Nail Gun for Insurance Tracking?

Yes, it’s still possible to use a hammer in the process of constructing a building. It’s a time-tested tool that certainly has its uses even in today’s modern world. But in today’s day and age, organizations that are concerned with efficiency and attention to detail in an increasingly fast-paced world need a faster and much more accurate solution. Unlike a hammer, a nail gun allows builders to work faster, produce more, and reduce costs. It’s no longer a luxury to use a nail gun — it’s now a necessary tool to remain competitive in the market.

Re-Tooling Your Insurance Tracking Process

Would you say your organization is using a hammer and manually going through the process of ensuring compliance for each and every vendor? Or are you among those who have ditched the error-fraught manual processes for an automated one, backed by a team of insurance professionals?

Imagine if you traded your inefficient hammer for your very own certificate of insurance tracking nail gun that would allow you to get vendors on projects faster than ever while also reducing errors? That’s where myCOI comes into play. Whether you want to enhance your own self-managed process along with time-saving technology, or prefer to enlist our team of insurance experts to manage the process on your behalf, we have the right solution for your organization’s needs.

With a focused, user-friendly platform, live support from experienced insurance professionals, and direct access to agents, myCOI gives you the tools to increase compliance, and minimize risk, all while improving productivity.

Insurance Tracking: Ready to Learn More?

Ready to start using a nail gun and up your insurance tracking game? Request a product demo. Interested in learning more or want to see myCOI in action? Sign up for our newsletter to stay in the know and ensure your organization is properly protected.

Related Article to Insurance Tracking

7 Ways Outsourcing Insurance Tracking Saves You Money

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