Certificate of Insurance Management for Small Businesses to Reduce Risk and Improve Compliance

COI Management | Company News | September 29, 2020

PlusOne Solutions, a compliance and risk management solutions provider specializing in contractor networks, released a new Certificate of Insurance (COI) Management service for small businesses.

As an insurance compliance partner, PlusOne Solutions ensures a contractor network is fully compliant with a company’s insurance standards, reduces the risk associated with working with contractors who may have improper insurance coverage and improves overall network compliance rates.

Managing all the certificate of insurance documentation in-house often means file cabinets filled with outdated COIs and a lack of tracking, leading to increased risk and liability with an out-of-compliance contractor network. Unfortunately, buying or licensing a COI tracking system is usually cost-prohibitive for companies with less than 250 contractor COIs to manage. To fix this common pain point, PlusOne Solutions created a Starter package, which offers all the essential components of a successful insurance compliance program.

“We realized that small and medium-sized companies needed an affordable option to improve their certificate of insurance management program, in such a way that would add value,” said Sara Everett, Insurance & License Operations Manager at PlusOne Solutions. “We developed a new range of insurance-related services that provide varying levels of our efficiencies, support, and safeguards to enhance their current insurance management process. The best part is that as the company’s needs grow, PlusOne Solutions can grow with them.”

As companies expand over time, they can upgrade to either the Professional or Enterprise packages for additional features, such as more robust support, consulting, and reporting. The varying packages are flexible to cater to the needs of networks of all sizes, however, there are some fundamental features included as a standard across all three packages. Each option includes a secure, centralized repository for stored insurance documentation with 24/7 customer access, and data entry assistance. Additionally, PlusOne Solutions takes a proactive approach by reaching out to the insurance agent and company for deficient insurance requirements.

“For the past 15 years, PlusOne Solutions has been specializing in compliance practices for the unique needs of contractor networks,” said Craig Reilly, CEO & Founder of PlusOne Solutions. “Our new COI Management service for small businesses is yet another way we continue to adapt our solutions to the service industry’s unique needs, and we will continue to commit to serving the service industry through innovative solutions.”

To learn more about PlusOne Solutions’ COI Management services, visit our website.

About PlusOne Solutions

PlusOne Solutions has been an industry leader in the risk management field by specializing in compliance programs that meet the complex challenges of geographically dispersed contractors, vendors, and employee networks. PlusOne Solutions protects companies from possible financial, legal, and reputational risks associated with contractor and vendor relationships while creating safer work environments.

You may also be interested in:

• 6 Benefits of Outsourcing Your Certificate of Insurance (COI) Management Program
• 11 Ways to Improve Service Network COI Management
• Certificate Holder vs. Additional Insured – Understanding Certificates of Insurance

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