New & Reviews
Insurance Certificate Tracking Service Offered
California based Ebix RCS is offering an online service for companies, brokerages and risk managers faced with the task of monitoring and tracking thousands of certificates of insurance to reduce liability exposure.
Ebix RCS’s service eliminates the need to maintain file cabinets full of certificates, since the images of the certificates are easily retrievable online long after the policy period has expired, according to the company.
More importantly, Ebix RCS added, clients can conveniently obtain instant remote online access to their insurance database file and certificate images from their location 24 hours a day making insurance certificate tracking less of a burden.
“Any company that must monitor the insurance status of suppliers, subcontractors, lessees, tenants or others will find this service to be of great value,” according to Ebix RCS President Robert M. Ward.
Subscribers to Ebix RCS’s online service direct all of their incoming certificates of insurance to the Ebix RCS operations center for processing and tracking. Once received, documents are entered by Ebix RCS on its proprietary computer system, which is programmed to identify whether or not the coverage information that is received meets the standards and requirement of the specific Ebix RCS client.
In addition to identifying expiring coverage, the system automatically identifies deficiencies such as unacceptable carrier ratings, inadequate coverage limits and the lack of the proper additional insured endorsement.
On a daily basis, the Ebix RCS system generates notices that are mailed out to advise the insured or agent of the corrective action necessary to achieve compliance with the client’s requirements.
Ebix RCS has also integrated an imaging application into the system for easy insurance certificate tracking. All incoming certificates of insurance are imaged and immediately are available online, with the images indexed to the database and made part of the permanent history record.