Deciding to change or bring on a vendor to manage certificates of insurance is no small decision and a lot can be at stake if it’s not the right fit. Here are five questions to ask when meeting with a potential vendor.
Question 1: What are our pain points and how will the provider address it?
Odds are, you are looking to outsource the management of certificates of insurance because something needs to change. Whether that is how the process is currently being done, internal priorities have changed, or if you need to start tracking certificates. Some common pain points and reasons change is needed are:
Although these are only a few examples, you should ask questions specific to your pain points and how a COI Tracking vendor can address the pain and help with the needed change.
At PlusOne Solutions, we want to know your pain points and work actively to help you solve or meet your goals.
We all know to successfully run any program you need goals and metrics to verify that you are successful. A COI Tracking program is no different. When looking to outsource, make sure you understand what your goals are and ask how a potential vendor will help you attain them.
With PlusOne Solutions, you will find a compliance partner, not just a vendor. We will work with your team to coordinate communication and campaigns and share best practices that have made other organizations successful.
Changing or beginning a new certificate of insurance tracking program is no small task. There are a lot of details that need to be coordinated. How will you notify your network of the changes? If you are new to enforce your insurance requirements or looking to increase them, what is the best way to do that? How do you get all your contractor’s company and insurance information over to your new vendor? How long does it take to get up and running? Will it cost more on top of the program pricing? As your contractor network grows or has turnover, how will that look?
We understand that change and balancing the action items can be overwhelming. At PlusOne Solutions, you will have a Customer Success Manager, specific to you, that walks you through the process. They are available to you for questions and to represent your best interests, all along the way.
In today’s day and age, if you aren’t changing, you’re falling behind when it comes to business. When choosing a partner to manage your certificates of insurance, you want them to be innovative and continue to create changes that benefit and add value to your organization.
Each year, PlusOne Solutions makes advancements such as adding machine learning and Textract to assist in faster turnaround times and accuracy, API endpoints for system integrations and ease of data transfer, and a new phone system to better assist your contractor network. We believe in constant innovation.
When hiring for a critical position, we always talk to references to feel more confident when we bring on a new member of the team. Hiring a vendor for COI Tracking is no different. You want to feel certain that you’ve made the right choice. Be sure to ask for references.
Net Promoter Score or NPS is also a good gauge to understand what type of service you’re going to get. The NPS will give you an idea of how that vendor’s clients feel about them through surveys.
At PlusOne Solutions, we have an NPS score that is world-class and plenty of clients that have been with us for years who are ready to share their experiences.
Of course, these questions are only the beginning. It is important to look at all the value a vendor can or cannot bring to the table. Just like any relationship, you want to make sure it’s the right one with the right fit for your needs.
Contents are provided for information purposes only and should not be construed as legal advice. Users are reminded to seek legal counsel with respect to their obligations and use of PlusOne Solutions services.
About PlusOne Solutions
PlusOne Solutions has been an industry leader in the risk management field by specializing in compliance programs that meet the complex challenges of geographically dispersed contractors, vendors, and employee networks. PlusOne Solutions protects companies from possible financial, legal, and reputational risks associated with contractor and vendor relationships while creating safer work environments. To learn more, visit https://www.PlusOneSolutions.net.To receive these updates directly in your email inbox, sign up for the newsletter. Questions or comments? We want to hear from you.
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