Tag: total cost of risk

7 Things That Could Be Costing You More Than Outsourcing Certificate Tracking

The expense of still doing certificate tracking manually is considerable. Add in the error factor and that feeling of imploding from work that’s never done – well, could be time to switch to a more efficient automated program. As an executive who always keeps one eye on productivity and cost savings, you may be interested […]

Written by myCOI on September 1, 2017

A Bad COI Communication System Can Cost You More Than You Think

When it comes to certificate of insurance (COI) tracking and all of the processes that go along with ensuring compliance for subcontractors or 3rd party vendors, missing an important element can be detrimental to your company’s financial health and future. In addition, your compliance staff may be unintentionally wasting time by using various manual systems, […]

Written by myCOI on October 11, 2016

A Bad COI Communication System Can Cost You More Than You Think

When it comes to certificate of insurance (COI) tracking and all of the processes that go along with ensuring compliance for subcontractors or 3rd party vendors, missing an important element can be detrimental to your company’s financial health and future. In addition, your compliance staff may be unintentionally wasting time by using various manual systems, […]

Written by on October 11, 2016

A Certificate of Insurance Falling Through the Cracks Can Cost Millions. How Do You Prevent That?

Even the most diligent risk management and certificate of insurance compliance teams are expected to make mistakes now and again. As an executive of an organization that works with subcontractors and 3rd party vendors on a frequent basis, you certainly understand this. That’s why like any good leader, you’ve implemented procedures to ensure greater control […]

Written by myCOI on September 27, 2016

A Certificate of Insurance Falling Through the Cracks Can Cost Millions. How Do You Prevent That?

Even the most diligent risk management and certificate of insurance compliance teams are expected to make mistakes now and again. As an executive of an organization that works with subcontractors and 3rd party vendors on a frequent basis, you certainly understand this. That’s why like any good leader, you’ve implemented procedures to ensure greater control […]

Written by on September 27, 2016

You Could Be Saving 30% on Insurance Tracking Costs

If your COI or compliance administrators are manually tracking insurance certificates by using accounting software and coordinating different systems with all of the 3rd party vendors and subcontractors in the pipeline, then it’s likely they are spending a significant amount of time spinning their wheels. For each COI, they have to reach out to collect, […]

Written by myCOI on September 7, 2016

You Could Be Saving 30% on Insurance Tracking Costs

If your COI or compliance administrators are manually tracking insurance certificates by using accounting software and coordinating different systems with all of the 3rd party vendors and subcontractors in the pipeline, then it’s likely they are spending a significant amount of time spinning their wheels. For each COI, they have to reach out to collect, […]

Written by on September 7, 2016