Corrigo Partners with Assurant to Launch a Revolutionary Proptech Solution Greatly Reducing Risk in Commercial Service Provider Insurance Compliance
New Corrigo Assure offering digitizes service provider insurance monitoring, screening, and compliance at the policy level to deliver real-time intelligence to spotlight areas of risk and exposure
DALLAS, Oct. 3, 2019 /PRNewswire/ -- Corrigo, a JLL company and the world's largest FM platform, today announced the launch of Corrigo Assure – a digital solution for certifying and monitoring commercial service provider insurance coverage, created in partnership with Assurant, a global provider of risk management solutions. A first-of-its-kind solution, Corrigo Assure accesses service provider insurance information at the policy level, bringing speed, transparency and trust to the traditionally foggy and uncertain Certificate of Insurance (COI) management process, enabling faster and easier connections between service requestors and providers.
To date, Facilities Management professionals have had two choices when it comes to verifying insurance coverage. They can accept a COI at face value and assume risks associated with insufficient, altered, or lapsed insurance coverage. Or, they can attempt to verify current coverage by hiring 3rd party resources or re-tasking employees to manually call and confirm individual policy details. Both traditional options are tethered to an analog, mistake-prone, paper-centric process that creates significant hurdles and must be repeated for every single work order or project. Unsurprisingly, this antiquated process creates tremendous friction, lowers trust, and can greatly delay responses to critical requests.
Corrigo's solution to these problems is simple – digitize the entire COI process. Corrigo Assure connects directly to Assurant's insurance data and actively monitors commercial service providers' compliance based on actual policy information in real-time instead of relying on out-of-date certificates of insurance. Continually accessing this deep digital policy data sets the gold standard for insurance compliance tracking. Assurant provides the highest levels of screening and monitoring in the industry, spotlighting problems like W-9 issues and/or OSHA violations and even uses blockchain technology to prevent tampering with screening and tracking results to give an extra layer of validation – another level of protection if litigation ever comes into play.
"Corrigo Assure is a revolutionary solution that solves the core COI management problem by disrupting an old process with our intelligent FM platform. Any time you replace a clunky, analog process with smart new technologies you gain enormous operational efficiencies that will drive real cost savings," says Tim Bernardez, president of Corrigo. "Corrigo Assure is the digital answer this age-old problem needs – it expands trust and removes significant financial risk and exposure for our connected users. This is the first of many platform-centric solutions Corrigo is launching to disrupt and revolutionize the FM industry."
To further elevate levels of trust within Corrigo's connected communities, Corrigo Assure can deliver gap insurance when a service provider's coverage has lapsed or doesn't meet required levels. Assure proactively provides alerts when gaps in coverage are identified, enabling Corrigo's 35,000+ connected service providers to immediately secure additional coverage so every job is completed on time and in compliance with the client's standards.
"Partnering with Assurant enables Corrigo Assure clients to have the right amount of coverage at the right time and benefit from the real time data delivered by our insurance tracking tools," said Kunal Malhotra, vice president of Global Specialty Innovation at Assurant. "Corrigo Assure blends the strengths of Corrigo's comprehensive platform with Assurant's innovative risk management solutions to deliver true process improvement and risk reduction for facilities managers."
Corrigo Assure solves the COI management issue on the service requestor side of the equation, but service providers also reap plenty of efficiency-boosting benefits. Automating insurance information eliminates the need to wrangle insurance provider paperwork common in old-school COI management. It also provides the intel providers need to know if their coverage is actually in compliance for a given job, eliminating project stops and starts due to coverage gaps. Simply put, Corrigo allows service providers to focus on service delivery – not the intricacies and technicalities that come with insurance coverage management.
Corrigo Assure is available today. More information can be found here.
About Corrigo
Corrigo is the world's largest FM platform operating in 107 countries, connecting 1.6 million locations to over 2.5 million users worldwide. Corrigo delivers facilities management and asset management solutions that connect all participants in one platform, including industry-leading mobility, technician management, vendor management, and open API. Since launching in 1999, Corrigo has processed over 700 million work transactions. In addition, Corrigo is actively involved in giving back to the communities it serves, including Corrigo Cares, a performance-based philanthropic program that provides more than 1 million meals annually via Feeding America, the U.S.'s largest domestic hunger-relief organization. Corrigo is a wholly-owned subsidiary of JLL (NYSE:JLL) and a part of JLL's Digital Business Group. Learn more at Corrigo.com or on Twitter @CorrigoInc.
About Assurant
Assurant, Inc. (NYSE: AIZ) is a leading global provider of housing and lifestyle solutions that support, protect and connect major consumer purchases. Anticipating the evolving needs of consumers, Assurant partners with the world's leading brands to develop innovative products and services and to deliver an enhanced customer experience. A Fortune 500 company with a presence in 21 countries, Assurant offers mobile device solutions; extended service contracts; vehicle protection services; pre-funded funeral insurance; renters insurance and lender-placed homeowners insurance. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future. Learn more at assurant.com or on Twitter @AssurantNews.
SOURCE Corrigo
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