Protect your company’s reputation and revenue from the first time you engage with a supplier and throughout the supplier lifecycle.
The manual process of verifying vendor insurance compliance via phone calls and emails is not only time-consuming, but also prone to errors and delays. The static nature of COI's means that by the time they're received, the information may already be outdated, leaving businesses vulnerable to gaps in coverage.
Businesses risk paying millions of dollars in lawsuits from accidents caused by suppliers. It’s impossible to guarantee that your supplier has the right coverage when you manually check once a year. They could stop payments, change coverage or simply not have enough coverage if multiple clients were impacted.
apexanalytix ensures that your suppliers have continuous compliant insurance coverage through integration with the Smart COI Network–covering 90% of business insurance policies in the US and Canada.
As part of apexanalytix’s supplier onboarding and management solution, suppliers provide all of the required data (including insurance, tax ID, bank account, etc.) in an online supplier-facing portal. The data is automatically verified with trusted data sources to ensure that suppliers are onboarded compliantly and then continuously monitored.
Real-time insurance compliance management seamlessly integrated in the apex platform.
Elevates COI tracking to real-time COI monitoring that is completely automated ensuring you always know the status of your vendor’s coverage beyond the certificate date.
Easily create and manage templates by coverage or vendor type. Add your requirements to simplify and streamline your COI requests so you get the information you need without tedious back and forth.
Receive proactive updates on changes to policies, renewals, coverages and agency transitions all in real time.
Reduces the COI acquisition process from 2-3 weeks to 10-15 seconds with efficient workflows and live COI monitoring. This frees up time for higher-value activities and scales with your growing supplier network.
apexanalytix's supplier-facing solution was built to rapidly onboard and manage suppliers without error prone manual tasks like email exchanges.
During onboarding, every supplier is required to provide insurance agent details.
Your requirements are sent to the supplier's agent through the Smart COI Network.
Insurance agents confirm that the coverage meets your requirements or resolves directly with the supplier.
Any change in coverage prompts an automated assessment against your requirements.
Protect your company’s reputation and revenue from the first time you engage with a supplier and throughout the supplier lifecycle.
A single, central supplier hub for every supplier, all of your policies and integration with 100% of your source-to-pay systems.
More insights. More expertise. More supplier intelligence. More recoveries than any other provider in the world.
The fastest way to validate and enrich your third-party data with APIs tapping 1,000+ trusted data sources and 100 million company golden records.
Prevent fines, fraud and supply chain disruptions with continuous monitoring of your supply base – without the noise.
Hundreds of product overviews, reports, customer-led webinars and on-demand product demos.
Fill out our contact form and we will be in touch shortly to discuss how the apex platform can help with insurance coverage monitoring.