Latest news with #COIs
Yahoo
5 days ago
- Business
- Yahoo
Vertikal RMS Launches Hawk-I: AI-Powered Revolution in Certificate of Insurance Compliance Tracking
PLAINVIEW, N.Y., June 05, 2025--(BUSINESS WIRE)--Vertikal Risk Management Solutions (RMS), a leader in third-party risk management technology, proudly announces the launch of Hawk-I, its proprietary, groundbreaking artificial intelligence tool integrated into its flagship COI tracking platform, CertFocus. This innovation marks a significant advancement in automating and streamlining the traditionally manual and error-prone process of Certificate of Insurance (COI) verification and compliance tracking. "Hawk-I represents a transformative leap forward in third-party risk management. By automating the COI review process, we're empowering organizations to proactively manage risk, ensure compliance, and protect their operations from potential liabilities." - Robert Rodriguez, Chief Operating Officer, Vertikal RMS For decades, organizations have grappled with the challenges of manually reviewing and tracking COIs from vendors, contractors, and suppliers—a process often fraught with delays, human error, and inconsistencies. Hawk-I addresses these issues head-on by leveraging advanced AI technologies, including natural language processing (NLP) and machine learning, to extract and analyze insurance data from both structured and unstructured sections of ACORD Certificates of Insurance. This enables real-time compliance assessments, significantly reducing turnaround times from days to mere seconds. Key Features and Benefits of Hawk-I: Instant COI Data Extraction: Accurately captures policy information from Certificates of Insurance, minimizing errors and manual data entry. Real-Time Compliance Status: Provides immediate feedback on compliance, enabling swift action to address any issues. Cost Efficiency: Reduces administrative burdens and associated costs by automating labor-intensive processes. Enhanced Collaboration: Facilitates better communication between compliance officers, procurement teams, and vendors through transparent and responsive processes. Hawk-I's adaptability extends beyond COI management, with capabilities to interpret other business documents and compliance records, making it a versatile asset across various departments and industries. This launch underscores Vertikal's commitment to innovation and excellence in risk management solutions. By integrating Hawk-I into CertFocus, Vertikal continues to provide clients with cutting-edge tools to navigate the complexities of third-party risk and compliance. About Vertikal RMS Vertikal RMS is a premier provider of risk management technology solutions, specializing in Certificate of Insurance tracking and vendor prequalification. With a focus on innovation and customer success, Vertikal delivers scalable, integrated, and customizable platforms designed to mitigate risk and enhance operational efficiency. View source version on Contacts For more information or to schedule a demo of CertFocus, please contact:H. Lee RothCROVertikal RMSPhone: 888-383-4811Email: marketing@ Website: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business
- Business Wire
Vertikal RMS Launches Hawk-I: AI-Powered Revolution in Certificate of Insurance Compliance Tracking
PLAINVIEW, N.Y.--(BUSINESS WIRE)--Vertikal Risk Management Solutions (RMS), a leader in third-party risk management technology, proudly announces the launch of Hawk-I, its proprietary, groundbreaking artificial intelligence tool integrated into its flagship COI tracking platform, CertFocus. This innovation marks a significant advancement in automating and streamlining the traditionally manual and error-prone process of Certificate of Insurance (COI) verification and compliance tracking. With Hawk-I, Vertikal RMS takes a significant leap toward fully automated insurance compliance tracking, empowering organizations to operate faster, smarter, and with greater confidence. Share "Hawk-I represents a transformative leap forward in third-party risk management. By automating the COI review process, we're empowering organizations to proactively manage risk, ensure compliance, and protect their operations from potential liabilities.' - Robert Rodriguez, Chief Operating Officer, Vertikal RMS For decades, organizations have grappled with the challenges of manually reviewing and tracking COIs from vendors, contractors, and suppliers—a process often fraught with delays, human error, and inconsistencies. Hawk-I addresses these issues head-on by leveraging advanced AI technologies, including natural language processing (NLP) and machine learning, to extract and analyze insurance data from both structured and unstructured sections of ACORD Certificates of Insurance. This enables real-time compliance assessments, significantly reducing turnaround times from days to mere seconds. Key Features and Benefits of Hawk-I: Instant COI Data Extraction: Accurately captures policy information from Certificates of Insurance, minimizing errors and manual data entry. Real-Time Compliance Status: Provides immediate feedback on compliance, enabling swift action to address any issues. Cost Efficiency: Reduces administrative burdens and associated costs by automating labor-intensive processes. Enhanced Collaboration: Facilitates better communication between compliance officers, procurement teams, and vendors through transparent and responsive processes. Hawk-I's adaptability extends beyond COI management, with capabilities to interpret other business documents and compliance records, making it a versatile asset across various departments and industries. This launch underscores Vertikal's commitment to innovation and excellence in risk management solutions. By integrating Hawk-I into CertFocus, Vertikal continues to provide clients with cutting-edge tools to navigate the complexities of third-party risk and compliance. About Vertikal RMS Vertikal RMS is a premier provider of risk management technology solutions, specializing in Certificate of Insurance tracking and vendor prequalification. With a focus on innovation and customer success, Vertikal delivers scalable, integrated, and customizable platforms designed to mitigate risk and enhance operational efficiency.
Techday NZ
12-05-2025
- Business
- Techday NZ
myCOI launches illumend to automate insurance compliance tasks
myCOI has announced the launch of illumend, an AI-powered platform aimed at automating and streamlining third-party insurance compliance management. illumend has been developed to simplify the complex process of managing certificates of insurance (COIs), utilising both artificial intelligence and myCOI's experience in the sector. The platform has been created to cater for a range of users - including risk managers, administrative staff, and property teams - regardless of their insurance expertise. According to myCOI, illumend leverages 15 years of insurance compliance experience, supporting management for more than one million contracts and 200,000 third parties. The platform aims to make insurance compliance accessible to a wider audience outside of traditional insurance professionals by introducing ease of use and faster processes. Kristen Nunery, Founder & CEO of myCOI, said, "Our vision with illumend was simple: compliance should feel empowering, not overwhelming. We built illumend to meet people where they are - whether they're risk managers, admins, property teams, or anyone who needs to 'just get it done right' without becoming an insurance expert." illumend has been developed in collaboration with Left Field Labs, a creative technology agency. The technology underpinning the platform has been designed to make certificate management both efficient and collaborative. The platform offers several key features. Instant compliance feedback provides users with real-time compliance scores and actionable steps, removing the delays typically associated with traditional review processes. One-click document uploads allow third parties to submit COIs quickly, without the need for detailed login procedures or extensive training. illumend also employs AI-driven tools that read contracts, extract insurance requirements, and automatically flag gaps in compliance. Users are supported by built-in access to human insurance specialists if required, ensuring a combination of automated efficiency and expert guidance. The platform has been developed with a focus on reducing the learning curve for non-insurance professionals, with a user interface designed to be intuitive from the outset. A free trial of illumend is available, allowing businesses to assess the platform without initial financial commitment. Joel Adams, Risk Manager at HPI Real Estate Services & Investments and a myCOI customer, commented, "With its smart AI, illumend gives everyone the visibility they need, simplifies the process, and makes collaboration so much easier. It's truly a game changer that's set to transform how compliance is handled for businesses everywhere." Businesses using illumend are expected to benefit from greater process efficiency, reduced manual workloads, and clearer compliance management. The platform is positioned as a tool to help organisations take control of their insurance workflows and potentially support business growth through improved risk management. The development of illumend reflects myCOI's effort to combine artificial intelligence with its established insurance compliance background to produce a system that can support both large-scale operations and smaller organisations with simpler compliance requirements.
