Vendor Compliance, Screening and Credentialing Services
Collecting vendor insurance certificates that meet your requirements is essential. For many organizations this is a difficult and painful process.
First, what do we mean by “vendors”? The term is widely used to refer to a large segment of third party service providers. It could be a facilities management firm, a subcontractor or a food service provider. Irrespective of the vendor type, collecting the vendor insurance certificates can be daunting and challenging.
Vendors use multiple carriers (i.e., one for GL, another for WC,etc.), and policies will likely have different expiration dates. In the end, your vendors will submit each policy on average 2-3 times before meeting your requirements.
For organizations with 100 vendors, this could mean managing over 500 certificates of insurance each year. The task becomes exponentially difficult for larger organizations.
Business Credentialing Services takes on this difficult task so you can focus on what you do best: managing your business. We make it easy to manage vendor risk, so that you can be sure all your vendors are compliant with your insurance terms and requirements.
Our proprietary, web-based software, Certus, is a powerful platform for tracking certificates of insurance. It integrates seamlessly with other risk management information systems (RMIS). Contact BCS today to learn more.