The State of Third-Party Insurance Verification – Research Report
October 28, 2021
ATLANTA, Georgia (October 28, 2021) — Evident today announced powerful new capabilities added to the Evident Insurance Verification solution, the only fully-automated, fully-digital insurance verification software solution designed for the enterprise. The new capabilities allow customers to manage tens of thousands of suppliers, vendors, franchises, and other third-party partners, with flexibility and precision, driving higher compliance and partner satisfaction.
“Our customers have embraced the automation and decisioning our platform provides as it improves their compliance rates and reduces their risk. Now, we’re adding more powerful tools for managing requirements and driving third party satisfaction,” said David Thomas, Founder and CEO of Evident.
Evident customers like Rubicon, a leading software platform that provides smart waste and recycling solutions for businesses and governments worldwide, can create precise, granular requirements based on all manner of criteria and can model and test their impact before deployment. Evident’s new capabilities allow businesses to easily manage more sets of requirements, making their programs much more effective and third party-friendly.
Evident’s research has shown that, for the average enterprise, 75% of third parties fail to meet contractual insurance requirements. Evident’s platform solves this problem by giving enterprises unprecedented versatility and precision in creating insurance requirements to accommodate a wider range of third-party partners; evaluation capabilities to test potential new requirements and criteria rules before implementation; and automation tools that improve communication with Insureds and streamline exceptions and overrides to better guide third parties toward compliance.
The latest version of Evident’s Insurance Verification Solution includes:
“Our ability to automatically verify against multiple sets of requirements has given us the flexibility to manage our network of haulers more efficiently while ensuring they meet the specific requirements of our customers,” said Mark Dylla, VP of Digital Transformation at Rubicon. “Evident provides us with better visibility into the current state of our network while improving our overall compliance. We’ve also been very impressed with their world-class customer service and ever-expanding product capabilities to support our business needs.”
Evident’s new capabilities are already being deployed and will be available to all customers by the end of the quarter.
The world’s largest organizations rely on Evident’s game-changing technology to help them safely collect and analyze both individual and business credentials so they can make fast and informed decisions about engaging new third-party partners, prospective employees, franchisees, and more, without compromising their privacy.
In today’s new remote-first, ever-changing regulatory environment, Evident provides a highly scalable and configurable solution to manage communications, storage, decisioning, and ongoing monitoring of individual and business credentials. Evident is a VC-backed technology startup, headquartered in Atlanta, GA. Learn more at evidentid.com.
Rubicon is a Lexington, Kentucky based software platform that provides smart waste and recycling solutions for businesses and governments worldwide. Using technology to drive environmental innovation, the company helps turn businesses into more sustainable enterprises, and neighborhoods into greener and smarter places to live and work. Rubicon’s mission is to end waste. It helps its partners find economic value in their waste streams and confidently execute on their sustainability goals. Learn more at Rubicon.com.