CertFocus

CertFocus COI Compliance & Tracking is a solution designed to streamline the management and tracking of certificates of insurance (COI) for vendors, suppliers, and third-party contractors. According to the vendor, this software solution can be used by businesses of various sizes to ensure COI compliance within their network. Industries such as construction, retail, manufacturing, healthcare, and hospitality are among those that can benefit from CertFocus COI Compliance & Tracking.

Key Features

Administrator Access: According to the vendor, users can easily create and manage user accounts, approve or reject COIs and related documents, and maintain detailed audit trails with the assistance of dedicated insurance credentialed account managers.

Alerts, Notifications, and Confirmations: The vendor states that the software automates email alerts to insureds and their brokers, allows for telephone calls, provides notifications for accepted or rejected COIs with explanations, and confirms receipt of COIs with users and insured parties. All notifications can be customized with the company's branding.

Collaboration and Cross-Referencing: According to the vendor, stakeholders can collaborate by messaging documents pending certificate review, sharing updates, comments, and notes. The system checks all COIs against original requests, flags deficiencies, and provides audit trails and segmentation tools for efficient management.

Unlimited Storage: The vendor claims that the software allows for the storage of an unlimited number of insurance sets, hierarchies, risk criteria, COIs, contracts, and supporting documents. All document images are easily retrievable, viewable, and printable.

Multiple Reporting and Dashboard Configurations: The vendor states that users can configure personalized dashboards, auto-generate and export reports in PDF or Excel CSV format, monitor custom KPI modules in real-time, and integrate CertFocus data with critical business systems.

Visible Carrier Insurance Ratings: According to the vendor, the software integrates with AM Best to track carrier ratings according to specified standards. Users can establish and enforce minimum rating thresholds and request new insurance carriers if ratings drop.