Lafayette, Colo. – May 27, 2021 – Today, KPA announced updates to Risk Management Center’s COI Track® that will help insurance brokers provide a greater value-added service to their insureds. Using optical character recognition, COI Track now streamlines certificate of insurance management to maintain up-to-date vendor records and avoid liability from uninsured or under-insured vendors, contractors, suppliers, or tenants.
COI Track has reporting capabilities that provide users with complete documentation required by insurance companies. In addition to this new automation capability, COI Track provides reporting and analysis by vendor, project, or location and notifies non-compliant vendors. COI Track provides an answer to an often overlooked but critical risk management and loss control need.
Certificate of Insurance Tracking That Saves Time and Reduces Liability
The updated technology allows insureds to scan digital Certificates of Liability, or ACORD 25 forms, to the COI Track fields for tracking policy expirations and insurance requirements. The new feature will help insureds significantly reduce the amount of time they spend manually entering information. By spending less time on data entry, they will also reduce errors, cost, and liability.
“This update to COI Track module in Risk Management Center gives brokers an additional way to demonstrate value to their insureds – helping them save time managing Certificates of Liability,” said Rob Stansbury, Director of EHS Insurance.
COI Track is one of several of Risk Management Center’s comprehensive compliance software tools for insureds to control and mitigate their business’s operational, regulatory, and compliance risks. The Risk Management Center helps brokers differentiate themselves from competitors by giving customers access to a holistic compliance software platform that helps them manage risk and compliance issues and reduce insurance claims. It also offers property and casualty solutions, like incident and claims management, online compliance training, audits, inspections, and behavior-based safety programs.
In addition to the Risk Management Center platform, KPA offers a comprehensive suite of workplace and workforce management software and services solutions to mid-size businesses. Over 10,000 clients, including automotive dealerships, construction, transportation and distribution, manufacturing, and more, rely on KPA for their risk management solutions.
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KPA provides Environment, Health & Safety (EHS), and Workforce Compliance software and services for mid-sized businesses. KPA solutions help clients identify, remedy, and prevent workplace safety and compliance problems across their entire enterprise. The combination of KPA’s Vera Suite platform, EHS consulting services, and award-winning training content helps organizations minimize risk so they can focus on what’s important—their core business. For over 30 years, KPA has helped 10,000 + clients achieve regulatory compliance, protect assets, and retain top talent.
About Risk Management Center
KPA’s Risk Management Center is a value-added software platform for insurance brokers offering risk management, safety, and compliance solutions. The Risk Management Center provides comprehensive tools for insurance clients to protect their reputation by controlling and mitigating operational, regulatory, and compliance risks associated with their businesses.