Understanding COI Management Solution Pricing
Here are the three main questions you need to answer when shopping for COI management solution: What features and services are included in the base pricing? Is the solution priced on a flat-fee or usage-based model? How is the cost allocated? We’ll examine each one of these questions one by one and break down the […]
New Feature Release: Commitment-triggered COI Requests in Procore
Managing certificates of insurance (COIs) in Procore often means juggling multiple departments and processes. Our conversations with customers led us to identify one significant pain point with the current COI workflow in Procore: The users creating commitments in Procore are not always responsible for requesting COIs, leading to communication gaps about which subcontractors are compliant […]
Jones and Bespoke Metrics Partner to Enable End-to-End Subcontractor Risk Management
July 11th, 2023, New York, NY- Today, Jones and COMPASS by Bespoke Metrics have announced a partnership aimed at further modernizing the construction prequalification process. They have teamed up to develop an integrated solution combining COMPASS’ prequalification platform with Jones’ industry-leading insurance verification SaaS to help general contractors move from simply managing insurance compliance towards […]
The Jones Insurance Insider June 2023: Sneaky Tenant Outsmarts Landlord Leaving Warehouse Owner on the Hook for Pricey Roof Collapse
Sneaky Tenant Outsmarts Landlord Leaving Warehouse Owner on the Hook for Pricey Roof Collapse Lawsuit Summary: A warehouse owner was denied insurance coverage in the case of a roof collapse because the tenant knowingly evaded listing the owner as an additional insured even though their lease required them to, and the owner did not object […]
The Jones Insurance Insider May 2023: How an Additional Insured status mistake left a construction company unprotected in a multimillion-dollar suit
Confusion Between Certificate Holder and Additional Insured Status Leaves GC Exposed to Multimillion-Dollar Suit Lawsuit Summary: A California judge ruled that an insurer had no duty to indemnify a general contractor, even though the GC was listed as a certificate holder on the COI. An employee of the GC’s subcontractor fell from scaffolding while working […]
Can ChatGPT Help With Extracting Insurance Requirements From Lease Agreements?
Extracting insurance requirements from leases might just be the single most difficult task a property management team faces on the path to insurance compliance. The ambiguity of legal language used in lease agreements and an utter lack of standardization in how these documents are structured and worded are just two of the many obstacles one […]
myCOI vs. Jones: A Head to Head Review
Our Review: Document Review Time When we reviewed myCOI, it boasts good audit accuracy, but former customers have reported average audit times ranging from 2 days to 2 weeks. A basic myCOI subscription has no option to expedite documents, and is subject to delays during periods of high renewal volume. Jones’ team of insurance experts […]
4 Ways Jones Helps Prevent Expired COIs from Falling Through the Cracks
Automatic COI renewal emails 30 days before policy expiration dates Simplifying the COI collection process with hard to ignore emails and a frictionless submission experience Capacity Planning so your team can drill down into data and plan accordingly Make sure you can see expiration dates in your core systems (Procore, MRI Software, Yardi, etc) Fun […]
5 Ways Jones Helps Procore Users Save Time On Managing Subcontractor COIs
Speeding up the management of subcontractor COIs requires a combination of efficiency and optimization through the right subcontractor compliance management tool. Here are the five strategies we focus on: Use Global Insurance Requirements For Subcontractors And Vendors Don’t Waste Time Switching Between Tabs – Make Sure You Choose The Correct Procore Integration Partner Streamline COI […]
The Death Of The COI Tracker
Imagine a world where insurance compliance is not a thing anymore. A corporate office needs urgent repair and maintenance: The property management team googles an approved vendor and schedules the work order. Easy! A construction company is pre-qualifying subcontractors: The project team receives bids and all insurance certificates are compliant in advance. Done! Scheduling, approval, […]