PARSIPPANY, N.J., April 25, 2019 /PRNewswire/ -- Docutrax, a division of Risk Toolbox, Inc., today announced an exclusive, long-term partnership with ProSight Specialty Insurance of New York, New York and Morristown, New Jersey. Under terms of the agreement, Docutrax will be responsible to manage, verify and maintain contractual insurance compliance of the subcontractors of ProSight's nationwide book of general contractor Construction business.
"We are very pleased that ProSight selected Docutrax as its compliance management partner," said Martin Mick, CEO of Docutrax. "We look forward to assisting ProSight and its insureds to provide enhanced risk control services to this challenging market sector through its new Subcontractor Policy Management program."
Under the customized Docutrax solution, general contractors are able to obtain compliance information on the status of all subcontractors in real-time. State-licensed account managers on the Docutrax team will collect, track, audit contracts and policies, check for exclusionary language and maintain subcontractor coverages in conformance with ProSight and GC contractual requirements.
"This is a 'new and improved' ProSight value for our construction insureds," said Jake Morin, ProSight's Value Creation Executive. "If GCs can verify and validate that their subcontractors have the proper insurance coverage – and at the same time – mitigate risk, they can focus their efforts on what they do best."
The Docutrax solution allows ProSight insureds to be able to signup online, a process that facilitates registration and provides for a quick turnaround between quote and binding. The Docutrax team then handles all activity associated with obtaining the necessary documentation and proper insurance coverage of each of the GCs subcontractors.
To learn more about Docutrax services, please visit https://docutrax.com
To learn more about ProSight Specialty Insurance, please visit: https://prosightspecialty.com
Contact: Martin D. Mick, CEO
Phone: 201-317-2165 (m)