End-to-end COI verification and fulfillment solution to drive risk visibility and conversion
Most commercial lenders spend a lot of time and effort managing borrower insurance compliance, but even the most successful program managers don't know exactly how compliant they actually are. They might know approximately how many of their borrowers have certificates of insurance (COIs) on file, but they rarely understand if all requested coverage types are present, if coverage values meet their requirements for a loan, or the risk from exclusions.
The consequences of not knowing are enormous, and can cause unnecessary financial damages in the event that a borrower is unable to make payments on their business loan.
Commercial lenders have turned to Evident because we provide the most efficient insurance verification to reduce administrative burdens and streamline borrower onboarding processes. Evident also works closely with our partner Marsh to provide uninsured or underinsured businesses with coverage, ultimately making it much easier to get to "yes" so the lender is covered.
Evident doesn't just store proof of insurance - we digitize all COI and policy elements so we can provide complete analysis of your exposure.
Evident automates the entire process - collection, verification, analysis, decisioning, storage, and monitoring of COIs and policies - and lets commercial lenders verify proof of insurance either directly with borrowers or with an insurance broker
Our workflows handle the tough stuff - we tackle the exceptions and even offer fulfillment to fill gaps in coverage, ensuring that more of your borrowers have active and up-to-date coverage, while greatly reducing your risk and administrative burden.
Evident integrates guidance from insurance industry partners into actionable reports that eliminate redundant coverage and optimize premiums to reduce overall cost for you and your borrowers.
See how one of the world's largest convenience store brands uses Evident to verify proof of insurance by automating requests, re-verifications, and decisioning to ease the burden of verifying coverage and reduce their exposure to risk.
This free calculator simulates the potential return on investment that your company could realize by using our technology-based insurance verification solution to vet and retain your vendors and other third-party partners. Simply answer a few questions and fill out a form to see how much money your company could be saving with Evident!