Revolutionizing Certificate of Insurance Management
In a significant move towards enhancing operational efficiency, Applied Systems, a leading provider of cloud-based software for the insurance industry, along with Certificial, the forefront innovator in Certificate of Insurance (COI) platforms, has unveiled an exclusive integration. This partnership aims to digitally connect insurance agencies and brokers, streamlining processes and reducing inefficiencies associated with vendor compliance management.
Seamless Integration for Improved Efficiency
This strategic collaboration comes as an answer to the long-standing challenges faced by insurance agencies when it comes to issuing certificates of insurance. With this integration, Applied customers can handle vendor management system COI requests directly within the Applied Epic platform, simplifying the process of confirming coverages and issuing certificates. By automating these tasks and minimizing the need for back-and-forth communication and repeated uploads to third-party sites, agencies can vastly improve their operational workflows.
Enhancing the Client Experience
Brian Giometti, Senior Vice President of Corporate Development at Applied Systems, emphasized the importance of this integration, stating that it effectively resolves the inefficiencies in the certificate issuance process. The goal is to not only streamline operations but also to provide transformative value for those managing large-scale certificate transactions.
Benefits for Both Parties
The integration offers mutual advantages to both user groups. Certificial’s Smart COI Network™ provides enhanced visibility into vendors' insurance statuses, thereby reducing risks and building trust between agencies and their clients. For Applied users, this means harnessing centralized and automated workflows that span the entirety of the policy lifecycle. By opting into this integration, agencies can access a streamlined COI intake process while also elevating the credibility of their vendors.
Changing the Game in Insurance Verification
According to Peter Teresi, CEO and co-founder of Certificial, this integration reshapes how commercial insurance verification is executed. As the market increasingly prioritizes real-time vendor legitimacy checks, knowing that a vendor's policies are active and validated leads to a significant decrease in risk. This feature makes vendors much more appealing for business collaborations.
Taking the Next Steps
Agencies utilizing the Applied Epic platform will have the option to opt into this integration starting in early July. Further details regarding this process will be released in the coming weeks, allowing agencies to prepare for a more efficient way to manage COIs. This integration not only refines the insurance verification process but also promotes a future where operational efficiencies are the norm rather than the exception.
About Applied Systems and Certificial
Applied Systems is widely recognized as the leading global provider of cloud-based software tailored for insurance businesses. The company has been a major force in automating processes within the insurance lifecycle. On the other hand, Certificial is redefining the insurance industry with its Smart COI Network™. By utilizing real-time data, Certificial ensures that businesses maintain continuous and compliant coverage, simplifying an often complex verification process.
With this partnership now in place, the future of certificate of insurance management looks promising. Agencies and brokers can expect faster, more accurate, and efficient handling of insurance documentation—ultimately benefiting their operations and clients in profound ways.
Frequently Asked Questions
What is the purpose of the new integration between Applied Systems and Certificial?
The integration aims to streamline the certificate of insurance management process, allowing agencies to manage COI requests more efficiently within the Applied Epic platform.
How will this integration benefit insurance agencies?
Agencies will experience decreased manual tasks, which enhances operational efficiency, reduces risks, and improves service delivery to their clients.
When will agencies be able to opt into this integration?
Agencies using Applied Epic can opt into the integration starting in early July, with more information to be shared in the coming weeks.
What improvements can Certificial users expect?
Users of Certificial’s Smart COI Network™ will gain better visibility into vendors' insurance statuses, facilitating real-time verification and compliance.
Why is this integration significant for the insurance industry?
This integration represents a significant step in automating and enhancing the verification process for insurance, ultimately elevating industry standards and practices.
