COI Comply helps businesses verify their vendor partners have the right coverage.
CAMDEN, NJ (February 28, 2022) – Conner Strong & Buckelew, a leading insurance brokerage and employee benefits consulting firm, introduces COI Comply, powered by Trustlayer, to provide clients access to an AI-powered collaborative risk management solution.
This tech-forward solution will enable clients to better manage the administrative burden associated with proof of insurance verification. By automating a largely manual process, clients stand to improve compliance, reduce risk, and ultimately deploy resources more optimally.
“We’re excited about the potential of this innovative technology,” said Terrence Tracy, Senior Partner, National Insurtech Practice Leader. “The ability to help our clients automate the management and verification of Certificates of Insurance (COI) with AI and machine learning, in addition to streamline their compliance processes, will help them achieve compliance faster and with less hassle.”
Virtually every business struggles with insurance verification. For those who do it well, the administrative burden is high — with manual processes and over 200,000 static documents changing hands daily across the U.S. For those who don’t, the risk is astronomical, with studies showing that 75 percent of U.S. businesses are underinsured.
“By extending these next-gen insurance compliance capabilities, Conner Strong demonstrates the innovative solutions and value they bring to their clients,” said John Fohr, Co-Founder and CEO of TrustLayer. “This commitment to innovation is what drew us to a strategic partnership with Conner Strong. We are thrilled to be able to help Conner Strong continue to strive for excellence for their clients.”
Conner Strong & Buckelew is among America’s largest insurance, risk management and employee benefits brokerage firms. The introduction of COI Comply, powered by Trustlayer, allows Conner Strong to leverage innovative technology across all its industry practice groups including Construction, Life Sciences, Employee Benefits, Manufacturing, Real Estate, and others.
About Conner Strong & Buckelew
The firm is an industry leader in providing high-risk businesses with comprehensive solutions to prevent losses, manage claims, and drive bottom line growth. Its employee benefits practice focuses on providing best-in-class benefits administration, health and wellness programs and strategic advisory services.
Founded in 1959 with offices in New York, New Jersey, Pennsylvania, Massachusetts, Delaware, Florida, and Georgia, Conner Strong & Buckelew has a team of more than 400 professionals, serving clients throughout the United States and abroad. For more information, visit www.connerstrong.com or follow us on LinkedIn (@ConnerStrong&Buckelew), Twitter (@connerstrong), Facebook (@connerstrongbuckelew) and Instagram (@connerstrongbuckelew).
TrustLayer is an AI-powered collaborative risk management platform working to digitize the highly manual, error-prone, and paper-based process of insurance verification. With TrustLayer, companies can securely automate the verification of insurance, licenses, and compliance documents of their business partners (i.e., vendors, subcontractors, suppliers, borrowers, tenants, ridesharing, and franchisees) in an easy-to-use digital dashboard. TrustLayer is working with dozens of the largest brokers and carriers in the U.S. to build out a fully digital proof of insurance solution so companies will be able to validate in real-time that their business partners have the correct coverage. Founded by John Fohr and Vincenzo Acinapura, the company is backed by leading investors, including Craft Ventures, Abstract Ventures, Box Group, Propel Ventures, Sure Ventures and PruVen Capital, and has also received investments from more than 20 of the top 100 insurance brokers. To learn more, visit trustlayer.io, or follow us on Facebook, Twitter, and LinkedIn.