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TrustLayer has proven to be an essential solution for businesses across various industries, addressing a range of critical business …
Overview
What is TrustLayer?
TrustLayer is a business software product that specializes in automating insurance verification and tracking of Certificates of Insurance (COIs) for businesses. The software, which helps protect companies from costly claims or lawsuits that can cost millions, increases insurance compliance by verifying...
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What is TrustLayer?
TrustLayer is an insurtech solutions company that automates insurance verification with machine learning & AI and provides real-time updates on the R3 Corda distributed ledger ecosystem.
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What is TrustLayer?
TrustLayer is a business software product that specializes in automating insurance verification and tracking of Certificates of Insurance (COIs) for businesses. The software, which helps protect companies from costly claims or lawsuits that can cost millions, increases insurance compliance by verifying COIs collected to ensure they meet required specifications and represent valid and current insurance policies. With TrustLayer, companies can collect, track and verify various important documents such as W9s, business licenses, professional licenses. Not only does the software employ robotic process automation (RPA) and AI processes to compare policies against contractual requirements but it also enhances transparency on this.
TrustLayer serves as a collaborative risk management software designed to streamline existing workflows for third-party insurance tracking while eliminating error-prone manual processes with its integrated technology features. Companies are provided with an opportunity to automate compliance workflows within the platform thus reducing operating costs while receiving real-time updates on vendor compliance status updates - this helps accelerate business transactions while decreasing loss ratios due to fraud or manual errors. All stakeholders involved can collaborate using Trustlayer at any time making sure everyone remains up-to-date with any arising issues concerning vendor compliance tasks through the platform's shared workspace feature. Insurance agencies assisting insureds with compliance management services would find TrustLayer useful too!
TrustLayer Video
TrustLayer Competitors
- Applied Epic
- BindHQ
- Heresay
TrustLayer Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
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TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
TrustLayer has proven to be an essential solution for businesses across various industries, addressing a range of critical business problems. Users have reported that TrustLayer simplifies the review process and enhances risk management awareness when it comes to third-party risk. By serving as a secure and user-friendly platform for storing all business documents, TrustLayer effectively ensures that third parties meet contractual requirements, even without extensive insurance knowledge. This capability has been particularly valuable in facilitating a more expansive product offering through the Contractual Risk Transfer program.
Time management and efficiency have also seen significant improvements with TrustLayer. Users have praised the software for streamlining the process of tracking and maintaining certificates of insurance for their contractors. With features such as automated expiration date tracking and certificate search, TrustLayer saves users a considerable amount of time compared to manual methods or spreadsheets. The elimination of manual processes through TrustLayer's efficient digital solution has revolutionized insurance certificate management.
TrustLayer's exceptional support sets it apart from other technology vendors. Users have highlighted the helpfulness and enthusiasm of the TrustLayer team, reflecting their dedication to both the company and its customers. Additionally, the AI capabilities embedded in the software, such as automatically updating vendor contact information based on uploaded certificates, have received high praise from users for their efficiency and accuracy.
By offering greater insights into clients' risk transfer activities through its innovative features, TrustLayer allows users to establish consistent insurance requirement guidelines while maintaining flexibility. Many users highly recommend TrustLayer for businesses seeking to improve their risk management and risk transfer programs due to its effectiveness in addressing these critical business needs.
Furthermore, the ability to create unique compliance profiles and match them to different projects has proven extremely helpful for users. This feature allows businesses utilizing TrustLayer to easily manage various projects while ensuring compliance with specific requirements.
Overall, TrustLayer's secure platform, simplified review process, time-saving features, exceptional support, AI capabilities, insight into risk transfer activities, and customizable compliance profiles have successfully addressed a range of business challenges faced by users in managing third-party risk and insurance certificate management.
Helpful IT Support: Users appreciate the dedicated IT support provided by TrustLayer. Many reviewers have mentioned that the support team goes above and beyond to assist them, offering helpful solutions and even sending short videos to guide users through technical issues or help them learn new skills in the platform.
Efficient Compliance Process: TrustLayer's direct vendor coaching feature has received positive feedback from users. Several reviewers have stated that this feature helps businesses streamline their compliance process and ensure that vendors meet the necessary standards. This streamlined approach saves time and ensures a smooth approval process for vendors.
User-Friendly Interface: The user-friendly technology and flexible process of TrustLayer are highly regarded by users. Many reviewers find the software easy to use, even for clients with limited technology skills. They appreciate how easily they can navigate through the platform from day one, thanks to its intuitive interface.
Confusing Dashboard Layout: Some users have found the layout of the Dashboard page to be confusing and have expressed a desire for improvement.
Non-compliant Notices: Several users have mentioned that the non-compliant notices do not meet their needs, leading to frustration.
Challenging Onboarding Process: It takes time for users to get used to TrustLayer and its new processes, which can be expected with any new tool.