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Users of myCOI have found the product to be a valuable tool for managing compliance and insurance tracking. With the ability to easily …
Overview
What is myCOI?
myCOI is a centralized software solution that automates the insurance compliance process. It offers sophisticated features in accordance with industry logic to ensure that customers are always protected by appropriate, active coverages. The software provides a single repository for viewing compliance...
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What is myCOI?
myCOI enables customers to handle the everyday tasks of managing certificates of insurance, protecting against underinsured claims, costly litigation and failed audits.
Entry-level set up fee?
- No setup fee
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- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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Product Details
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- Tech Details
What is myCOI?
myCOI is a centralized software solution that automates the insurance compliance process. It offers sophisticated features in accordance with industry logic to ensure that customers are always protected by appropriate, active coverages. The software provides a single repository for viewing compliance status, making renewals simple and easy.
Incoming certificates of insurance are automatically received and scanned by myCOI's system, which confirms their compliance against customer-specified standards. In cases where non-compliant coverage exists, agents will be notified while customers and myCOI's expert staff review any exceptions or omissions to prevent any potential legal liability in the future. The software also includes an automated communication plan to ensure nothing falls through the cracks during this process.
The document ingestion process, rules comparison and white glove service offered by myCOI’s compliance team also sets it apart from others on the market today. By streamlining and automating third-party insurance compliance tasks across all industries, myCOI has minimized tedious paper-bound processes that were once synonymous with this type of work.
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Product Introduction
myCOI 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!
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Users of myCOI have found the product to be a valuable tool for managing compliance and insurance tracking. With the ability to easily identify where their users are lacking in insurance, they can ensure that everyone carries the right policies. The streamlined process has allowed users to reallocate resources to more pressing business needs, resulting in a more efficient workflow.
The product's communication and efficiency have been praised by users, with customer service always available and willing to assist. Whenever there have been hiccups, they have always been addressed immediately to their satisfaction. By maintaining compliance and ensuring coverage among tenants and vendors, with clear reports of any that fall outside of requirements, users can avoid costly fines and penalties. Additionally, the product has made compliance with subcontractor COIs easy for users, resulting in beneficial partnerships. Overall, myCOI has enabled users to save time, reduce resources needed for compliance, and maintain a gold standard rate of 90% compliance that was previously unattainable without the product.
Ease of Use: Many users find myCOI to be easy to use and navigate, which saves time for staff and installation crews. The software's simplicity allows for efficient training of employees. Some users appreciate the convenience of having all certificates in one place, with reminders sent when requirements are due.
Integration with Other Software: Several reviewers commend how myCOI integrates well with other software, making COI tracking less time-consuming on the company side. Automation of tracking down agents and vendors is also appreciated by some users.
Compliance Tracking and Support: A number of users appreciate that myCOI helps manage compliance for their subcontractors' COIs, taking most of the work away from a company regarding insurance compliance. Users feel more secure knowing that their subcontractors are compliant using myCOI. Additionally, experts at myCOI assist administrative teams in wading through subcontractor compliance for many construction projects, schedule quarterly review calls, and are responsive when users reach out with an issue or request.
Confusing User Interface: Some users have found the user interface to be confusing and not well-integrated with the rest of the program.
Lack of Information in Help Section: Several reviewers have stated that the help section could be more informative and cover more areas or subjects.
Difficulty in Acclimating to Unique Language: A few customers have mentioned that the language used in the insurance industry is unique and not user-friendly, making it difficult for new users to become acclimated to the software.