Familiarizing yourself with a new certificate of insurance (COI) monitoring service can be challenging and riddled with questions. With any new partnership, you want to ensure that each step works for you and adds value to your company. Today’s blog will give you an overviewof the PlusOne Solutions system and answer frequently asked questionsabout our COI monitoring services.
Why PlusOne Solutions for COI Monitoring Services?
The PlusOne Solutions team specializes in contractor networks and understands the need for efficient, quick, and accurate compliance documentation processing. Our process ensures that your network of contractors and vendors remain compliant to the requirements of your organization and their contract when providing services to your customers. It is critical to minimize compliance disruptions because they can cripple your business operations. For this reason, we connect your organization with our specialized processors who understand COIs, implement an automated system to reduce risks, and receive COIs promptlyand accurately.
In addition, we regularly monitor and verify that insurance remains active and valid throughout the year. The utilization of our services further mitigateslegal risksand allows you to focus on your core business needs.
What Do PlusOne Solutions’ COI Monitoring Services Include?
Our team ensures that your unique contractor networkfully complieswith your insurance certificate standards. When you partner with PlusOne Solutions, you will receive:
Access to view, download, and print COI and licensing documentation and compliance reporting 24/7 through our online portal.
Online management services that track documentation and provide a continuous review of COIs and endorsements.
Ongoing partnership with a team dedicated to helping your company and contractor network meet compliance goals.
Can COI Monitoring Services And Settings Be Personalized To My Business Needs?
Our application manages multiple requirements, such as effective dates, coverage levels, additional insured, endorsements, waivers of subrogation, and more. There are built-in notifications if any of these personalized parameters are not met.
When you partner with PlusOne Solutions, you are assigned a Customer Success Manager specific to you and your unique business needs. This representative will ensure that your COI personalization settings are effectively implemented and that each component is working to achieve your compliance goals.
Can PlusOne Solutions’ COI Monitoring Services Benefit My Company’s Bottomline?
Managing COIs in-house can be challenging and can become a drain on company time and internal resources. Partnering with PlusOne Solutions gives businesses access to our dedicated team of insurance experts and automated reporting systemsthat work together to achieve efficiency and compliance inside contractor networks. Companies that work with our team see a reduction in rejected insurance-related claims and administration costs which saves on additional business expenses.
What Are The Added Benefits Of Professional COI Management?
The entire goal of our COI tracking and monitoring system is to protect you and your business from legal or financial repercussions. When you partner with our team, your company will benefit from:
Reduced exposure to uninsured or underinsured contractors to mitigate potential legal and financial risks.
Lower costs that are often associated with insurance, claims, and administrative tasks.
Improved compliance rates throughout your vendor and contractor networks.
Simplified and streamlined COI management within a centralized system.
At PlusOne Solutions, our team has specialized in compliance practices for more than 16 years, and we understand the needs inside home service companies and contractor networks. Our specialized services are designed to help companies continuously achieve and maintain compliance goals. Contact us to learn more about how we can help your business today.
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.
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