(SAN FRANCISCO, Calif.) — NEWS: PayneWest Insurance, a leading insurance brokerage in the Pacific Northwest, today announced partnering with TrustLayer, Inc., the next generation solution for compliance tracking. PayneWest will leverage TrustLayer to expand value added services within their many Specialty Practices – specifically their Insurance Compliance Service offering to its Construction customers. PayneWest is the leading brokerage in the region to roll out this suite of additional consulting services at scale.
Legacy certificate tracking software systems are often cumbersome and expensive. Industry pioneer TrustLayer provides an innovative risk management system that enables immediate vendor coverage verification. Using a unique robotic process automation (RPA) and AI to automate this manual process allows companies to automatically verify the insurance and licenses of their partners. With TrustLayer, PayneWest is able to elevate and expand its risk consulting services to many more of its customers.
“Small and medium businesses often cannot justify a full-time Risk Manager. TrustLayer gives our brokerage an ability to offer additional risk consulting services to our clients. Most importantly, it helps us better protect our clients from insurance claims caused by their vendors,” said Isabel Barichievich, Specialty Practice Project Manager.
Barichievich added, “TrustLayer provides a collaborative risk management platform that allows us to help review and track certificates of insurance (COIs) to make sure our clients’ vendors have the correct insurance coverage.”
“With the current state of the economy, many vendors are not carrying the right commercial insurance coverage,” said John Fohr, Chief Executive Officer of TrustLayer. “By using TrustLayer, PayneWest will be able to automate the traditionally manual process of tracking insurance coverage for their customers, enabling the agency to reduce inefficiency, increase revenue and retain its customer base.”
TrustLayer is a collaborative risk management application that helps reduce friction between businesses. The company allows their business partners’ users to automate the verification of insurance, licenses, and compliance documents (i.e., vendors, subcontractors, suppliers, borrowers, tenants, ridesharing and franchisees). TrustLayer’s solution is recognized by the industry and is a member of BrokerTech Ventures (BTV) accelerator, BrushCreek Tech Insurance accelerator, winner of the 2019 R3 CordaCon Insurtech Challenge, and received top honors at The Institutes 2020 annual convention.
Learn more at: https://www.trustlayer.io/
Related link: https://www.trustlayer.io/
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