Next Generation Insurance
Verification and Fulfillment
End-to-end insurance compliance and MMA-backed fulfillment to measure, monitor and identify insurance risk in order to protect your brand while reducing workload.
Coverage is Critical for Franchisors
Most franchise operators spend a lot of time and effort managing insurance compliance but even the most successful franchisors are not exactly sure how compliant they actually are. They may know approximately how many of their franchisees have certificates of insurance (COIs) on file but they rarely understand: if all requested coverage types are present, if coverage values meet their requirements, or if they are at risk due to exclusions. The consequences of not knowing are enormous and can cause unnecessary damages to their business or brand reputation in the event of an unforeseen accident.
Insurance may be seen as an old-school necessity but that doesn’t mean the technology and processes to manage it need to be. That’s why Evident is reinventing risk compliance management.
Franchisors have turned to Evident because we provide the most efficient COI tracking in order to reduce administrative costs and streamline onboarding processes. Evident also works closely with our partner Marsh to provide non-compliant franchisees with insurance that meets corporate standards, ultimately making it much easier to get to “yes” so you and your franchisees are properly covered.
How We Are Different
Deeper Visibility: Through digitization of all COI, policy elements, and exclusions, Evident provides continuous insight into franchisee compliance and risk.
Automation: Evident automates the collection, verification, analysis, decisioning, storage and monitoring of COIs and policies.
Getting to Yes: Workflows in Evident are able to handle exceptions, reduce administration effort, and increase conversion for insureds up to and including providing fulfillment via Marsh & McLennan Agency.
Optimize Risk/Spend: Evident has integrated guidance from insurance industry partners like Marsh & McLennan Agency into actionable reports that eliminate redundant coverage and optimize premiums to reduce overall cost for you and your partner network.
Operationalize Fulfillment: Evident’s unique policy recommendation technology combined with Marsh & McLennan Agency fulfillment, drives 50% more franchisee conversions than any other solution, all without you having to do a thing.
How It Works: Steps to Success
- Obtain granular, accurate, and searchable COI data view
- Verify COIs either directly with your franchisee or with an insurance broker
- Access authoritative insurance data and continuously monitor coverage
- Deploy rules-based compliance evaluation with our decision engine
- Assess network in real-time with our robust dashboard and reporting capabilities
- Provide Marsh & McLennan Agency-backed coverage options to help fulfill company requirements when needed
Evident is redefining risk compliance by providing real-time analysis and decisioning by utilizing live COI data from partner, vendor, and franchisee networks to ensure that insurance policies are active, valid, and meet corporate requirements.
Learn more about how Evident can save you time, money, and resources. Contact your Marsh & McLennan Agency representative for details.