Between the pandemic, civil unrest, and climate change, it's a dangerous time for retailers. Insurance rates are fluctuating, premiums are rising, and new risk types are emerging.
None of this is your fault, but it is your problem to solve, and the old risk management model of collecting third-party COIs and occasionally verifying and monitoring them with spreadsheets and phone calls won't help anymore.
Retailers rely on Evident to detect and monitor insurance gaps in their supply chain, so they can get their vendors and suppliers compliant with corporate insurance requirements.
Evident doesn't just store your third-party COIs, we digitize all COI and policy details so we can provide complete analysis of your supply chain's exposure.
Evident automates the entire process - collection, verification, analysis, decisioning, storage, and monitoring of third-party COIs and policies to ensure compliance with corporate standards.
Our workflows can handle the exceptions and even offer fulfillment to ensure that more of your supply chain partners have active and up-to-date coverage, while greatly reducing your administrative effort.
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 network partners.
See how one of the world's largest convenience store retailers uses Evident to verify COIs by automating requests, re-verifications, and decisioning to ease the burden of verifying coverage and reduce their exposure to risk.
• Build out your policy requirements (coverage types, amounts, exceptions)
• Load your vendors, suppliers, and other third-party partners
• Digitize COI data elements
• Review granular, accurate, searchable, real-time COI data view
• Deploy rules-based compliance evaluation with our decision engine
• Provide coverage options to help third parties fulfill corporate requirements when needed
• Monitor compliance status and report on changes