Certificate of Insurance, often called a COI, is a document issued by insurance companies as proof of insurance coverage. The COI shows the information of an insurance policy and the policyholder’s details such as insureds’ name, effective date, expire date,coverages, limitations, and carrier information. The COI identifies whether a business or an organization has certain types of insurance, such as worker’s compensation, product liability, auto liability, E & O, and general liability insurance. This document is usually sought at the start or before a contract is entered by parties and is maintained throughout the lifespan of a contract. The certificate of insurance is often a part of maintaining contract compliance.
Numerous Documents and paperwork create clutter and confusion in offices. In order to reduce this load and manage it effectively, a web portal would be a great way to collect COI data without having to go through the ordeal of long phone calls to gather data and email exchanges to and fro contractors. This approach will help companies automate and centralize the process of collecting information without sacrificing standards set for compliance. The gathered information will be stored in A1 Tracker and can be accessible by any team members in the company..
A1 Enterprise recently created Certificate of Insurance software and portals for two big companies in the US. One company is a single source provider of facilities management services for organizations and another is an automotive dealership company. Despite the differences in their business niche market , both companies handle several contracts with their customers. These contracts prior to closing would normally include insurance as a requirement.
Due to the large number of customers they cater towards, they needed a system to streamline data gathering and tracking their Certificate of Insurance. The COI portal is the ideal solution for this purpose. The portal is similar to a landing page but it is more sophisticated as it is developed to cater insurance details.
The COI portal developed was for auto insurance, general liability, workers compensation and umbrella liability. The portal would make the job of Insurance Agents easier as this portal can be accessed from anywhere and also via mobile devices. It is straightforward and is easy to navigate. The portal also allows for uploading files which is helpful to collect other documents needed to verify the Certificate of Insurance. The data collected will be accessible inside A1 Tracker which is a web-based system that would serve as a data and processing repository.
The process becomes more efficient as the flow of information would be streamline from the COI portal to A1 Tracker; and to the individual team members who will handle specific customers’ COI. In A1 Tracker, each record when updated will create notifications depending on the frequency this may include change of status, uploading of documents related to the COI itself, change of assigned user, completion of one workflow step among others. All of these can be easily modified and adjusted by a company administrator.
Instead of handling thousands of paperwork, why not migrate to a paperless system. A1 Enterprise has developed several portals in the past and is not limited to creating portals for a COI such as portals for agreements, contract management, claims management, logistics and case management among others . Every portal has been developed to meet custom and unique requirements of each company with custom designing following the company’s branding and image.
A1 Tracker is known for its customization, adaptability and integration capabilities. If you want to know more about A1 Tracker web-based software and portals, click here to schedule a demo.