Support contract compliance for your insureds by identifying potential insurance limit deficiencies within their vendor community, with the only certificate of insurance tracking application specifically for agencies.
Many businesses today require their vendors and contractors to provide a certificate of insurance in order to prove they meet required coverages based on the contract insurance provisions entered into with the business. More and more agents are expanding risk management services by tracking their insureds’ vendor insurance coverage compliance via a certificate of insurance (COI). The certificate of insurance represents the coverages a vendor is required to provide based on the contract insurance provisions entered into with an insured.
With Applied certTrax, your agency can track vendor COI for contract compliance and identify any potential deficiencies in a vendor’s insurance. Applied certTrax continuously monitors items such as policy expiration dates, coverage limits and carrier A.M. Best ratings and then sends alerts to vendors, and compliance reports to your agency and insured.
This automated monitoring and streamlined notification system increases contract compliance and mitigates risk of third-party claims for insureds, enabling your agency to increase customer retention and satisfaction by offering more comprehensive risk management services.
Applied certTrax increases revenue and growth by providing your agency the opportunity to enhance your risk management services with a streamlined certificate of insurance tracking solution for insureds.
- Provides an additional risk management offering that can influence the insurance buying decision by creating more opportunities to win new business and enhance customer retention
- Provides flexibility to position either as a value-added risk management offering to justify insurance placement commissions, or an opportunity to create a new revenue stream
- Links seamlessly with the Applied CSR24 client portal which brands Applied certTrax to your agency
- Customizable interface provides clients with a personalized industry specific certificate of insurance tracking platform, increasing client satisfaction and retention
Applied certTrax reduces agency expenses while enhancing productivity and profitability by streamlining certificate of insurance tracking workflows as compared to manually tracking vendor certificates of insurance and contract compliance.
- Automates the certificate of insurance tracking process resulting in less time and expense associated with processing certificate of insurance compliance checks, sending non-compliant letters, requesting renewal certificates of insurance and generating and sending compliance reports
- Includes paperless delivery options for compliance notifications decreasing time and costs associated with faxing, postage, printing, and collating
- Automates the certificate of insurance tracking workflow eliminating the need for creating in-house tracking platforms such as Excel spreadsheets, which create additional liabilities for providing a certificate of insurance tracking solution
- Minimizes the amount of training needed due to the Applied certTrax user-friendly interface
Applied certTrax improves client service and enhances branding through additional risk management service offerings. Available branding through the Applied CSR24 client portal provides seamless look and feel, reinforcing the agency link to enhanced risk management service offerings.
For more information about Applied certTrax and other Applied solutions, call us at 1.800.786.1362 or Contact Us.