Tag: Risk Management & Compliance Insights

It’s Difficult to Quantify Social Inflation, But it’s Crucial to Comprehend

Social inflation affects our industry in big ways, but many of us don’t understand what it is or how it’s doing it. Here, we’ll break social inflation down, discuss it, and gain an understanding of what we can do as an industry to combat it. What Social Inflation Is In addition to general economic inflation, […]

Written by myCOI on December 15, 2022

AI in Risk Management

When it comes to risk management, artificial intelligence (AI) is quickly becoming a game-changer. By automating repetitive tasks and analyzing data more efficiently, AI is helping insurance professionals and risk managers free up time to focus on more strategic initiatives. Understanding What AI Is Artificial intelligence (AI) technologies are computer systems designed to simulate human […]

Written by myCOI on December 13, 2022

AI in Risk Management

When it comes to risk management, artificial intelligence (AI) is quickly becoming a game-changer. By automating repetitive tasks and analyzing data more efficiently, AI is helping insurance professionals and risk managers free up time to focus on more strategic initiatives. Understanding What AI Is Artificial intelligence (AI) technologies are computer systems designed to simulate human […]

Written by on December 13, 2022

1099 Contractors – They Need Certificates of Insurance

One of the best ways to mitigate risk is to routinely request, obtain, verify, and monitor contractor proof of insurance (certificates of insurance) from independent contractors providing services for you, such as janitorial, maintenance, or building contractors, in order to verify that they are insured against their liabilities and/or workers’ compensation. Workers’ comp is wildly […]

Written by myCOI on December 6, 2022

1099 Contractors – They Need Certificates of Insurance

One of the best ways to mitigate risk is to routinely request, obtain, verify, and monitor contractor proof of insurance (certificates of insurance) from independent contractors providing services for you, such as janitorial, maintenance, or building contractors, in order to verify that they are insured against their liabilities and/or workers’ compensation. Workers’ comp is wildly […]

Written by on December 6, 2022

You Need MORE Than Just Holding COIs

Let me set the stage: you landed the account. Ducks are lining up in rows. Deposits are in, subcontractors are contracted, and certificates are in hand. Things look ready to break ground. GREAT! How closely have you looked at your subcontractors’ certificates of insurance, or COIs? You could be in for a rude awakening if […]

Written by myCOI on November 2, 2022

You Need MORE Than Just Holding COIs

Let me set the stage: you landed the account. Ducks are lining up in rows. Deposits are in, subcontractors are contracted, and certificates are in hand. Things look ready to break ground. GREAT! How closely have you looked at your subcontractors’ certificates of insurance, or COIs? You could be in for a rude awakening if […]

Written by on November 2, 2022

It’s Easy to Create Your Own COI. Don’t Do it

Are you a subcontractor or other third party that has been recently hired by a company that requires you to submit a certificate of insurance? Did you know you can easily download a certificate of insurance PDF from several websites? Did you know you can just as easily fill in a certificate of liability insurance […]

Written by myCOI on September 8, 2022

It’s Easy to Create Your Own COI. Don’t Do it

Are you a subcontractor or other third party that has been recently hired by a company that requires you to submit a certificate of insurance? Did you know you can easily download a certificate of insurance PDF from several websites? Did you know you can just as easily fill in a certificate of liability insurance […]

Written by on September 8, 2022

5 Things to Do to Verify Your COI is Valid

Not every subcontractor can afford insurance coverage. Not every subcontractor will be honest. A certificate of insurance template in the wrong hands can make your company vulnerable to claims and damages. A false COI usually means an absence of coverage. While a certificate of liability insurance form example can help you do your job, it can also […]

Written by myCOI on July 28, 2022

5 Things to Do to Verify Your COI is Valid

Not every subcontractor can afford insurance coverage. Not every subcontractor will be honest. A certificate of insurance template in the wrong hands can make your company vulnerable to claims and damages. A false COI usually means an absence of coverage. While a certificate of liability insurance form example can help you do your job, it can also […]

Written by on July 28, 2022

COI Tracking Should be a Core Insurance Agency Software Offering

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 […]

Written by myCOI on July 21, 2022

COI Tracking Should be a Core Insurance Agency Software Offering

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 […]

Written by on July 21, 2022

Software for Insurance Agents Can Help Grow Your Agency

General insurance software can help your agency achieve its potential. But what does that mean exactly? 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. Software for insurance agents can increase productivity […]

Written by myCOI on July 14, 2022

Software for Insurance Agents Can Help Grow Your Agency

General insurance software can help your agency achieve its potential. But what does that mean exactly? 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. Software for insurance agents can increase productivity […]

Written by on July 14, 2022

Why a Certificate of Insurance Is Not Enough (and What To Do About It)

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 feel like a full-time job. Finding additional time to review insurance policies and endorsements is difficult, but extremely important. They say, “the devil is in the details” and when it […]

Written by myCOI on June 28, 2022

Why a Certificate of Insurance Is Not Enough (and What To Do About It)

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 feel like a full-time job. Finding additional time to review insurance policies and endorsements is difficult, but extremely important. They say, “the devil is in the details” and when it […]

Written by on June 28, 2022

myCOI Named to 2022 Top Workplaces List by The Indianapolis Star

INDIANAPOLIS (May 16, 2022) — myCOI, the industry leader in certificate of insurance (COI) management software, is proud to announce it has been named to the Top Workplaces 2022 list by the Indianapolis Star Top Workplaces program. The list is based solely on employee feedback gathered through a survey administered by Energage LLC. This honor comes after myCOI […]

Written by myCOI on May 16, 2022

myCOI Named to 2022 Top Workplaces List by The Indianapolis Star

INDIANAPOLIS (May 16, 2022) — myCOI, the industry leader in certificate of insurance (COI) management software, is proud to announce it has been named to the Top Workplaces 2022 list by the Indianapolis Star Top Workplaces program. The list is based solely on employee feedback gathered through a survey administered by Energage LLC. This honor comes after myCOI […]

Written by on May 16, 2022