New year, new features! Now, each member of your team can receive live email notifications every time a contractor’s compliance status changes.Â
We know that working with independent contractors, vendors and suppliers means juggling lots of moving pieces. That’s why we’ve created notifications that you can customize for your team’s unique structure and responsibilities.
If you need to stay updated on contracts with Google, but a different team member handles all things Spotify, you can choose to only be notified about contractors associated with Google.
If you’re a compliance manager that trusts your team to handle day-to-day communications, and would rather not fill your inbox with compliance updates, simply leave them off! We’ll still send your Monthly Compliance Report to keep you in the loop.
How it Works
Log in to your Bunker account, and open the requirements you’d like to receive notifications for.
Once your notifications are on, you’ll receive an email anytime a contractor associated with that requirement’s compliance status changes.
Compliance Status
A contractor’s compliance status assesses whether or not the insurance they have meets their requirement. When contractors enter the Bunker System, their default status is “Needs Review.” Once they’ve uploaded a certificate of insurance or purchased insurance, their status will change to either compliant or non-compliant.
Compliant: They have coverages, limits, and enhancement language that meets their requirement
Non-Compliant: They’re missing one or more elements required
Compliance Status Changes
You’ll receive a notification when the contractor is initially marked compliant or non-compliant, as well as when their status changes for any reason thereafter. These are the main events that will cause a contractor’s compliance status to change:
COMPLIANT
The contractor purchases the coverages they need and has a compliant COI ready to go
The contractor uploads a COI that meets the requirement*
The contractor adds the missing language to their COI
A waiver is approved for the contractor’s missing coverage
* Features available to members using Bunker’s Certificate of Insurance Screening, Verification and Monitoring Services
Why it’s Important
We all know insurance can be a huge barrier to the onboarding process. Bunker has helped speed up onboarding by about 20%, but for many it still ends with an onboarding coordinator scanning a certificate of insurance to verify that it meets the requirement before filing it away. This is problematic for a few reasons:
Most onboarding coordinators aren’t insurance experts – nor should they be. Without an in-depth knowledge of certificates of insurance it can be tough to tell if the insurance coverage actually meets the requirements. When you receive a compliance notification, you’ll know right away that the COI you have is up to code.
It saves time. There’s paperwork and processes that can only happen once you know that a contractor has the proper coverage. Now, you can check insurance off the list and move on the moment it’s ready to go.
Future reference: With compliance notifications in your inbox, a quick search will tell you who is and isn’t compliant at a moment’s notice when you need to know later on.
Compliance changes. A contractor’s coverage can be cancelled, expired, or changed at any time, and it can take a while for the mailing address listed under Certificate Holder to be notified. With email notifications, you’ll know right away when there’s a liability gap you should be aware of.
Bunker Enterprise
Want to learn more about Bunker’s Certificate of Insurance screening, verification and monitoring services? Reach out to your account manager, (or email enterprise@buildbunker.com), schedule a call, or visit Enterprise.buildbunker.com to learn more!
If your interested in learning more visit https://www.buildbunker.com/ or contact us at support@buildbunker.com
NON-COMPLIANT
The contractor’s certificate of insurance expires
The contractor uploads a certificate of insurance that does not meet their requirement*
The contractor cancels their policy
The contractor purchases a policy that does not meet the requirement
COMPLIANT
The contractor purchases the coverages they need and has a compliant COI ready to go
The contractor uploads a COI that meets the requirement*
The contractor adds the missing language to their COI
A waiver is approved for the contractor’s missing coverage
* Features available to members using Bunker’s Certificate of Insurance Screening, Verification and Monitoring Services
Why it’s Important
We all know insurance can be a huge barrier to the onboarding process. Bunker has helped speed up onboarding by about 20%, but for many it still ends with an onboarding coordinator scanning a certificate of insurance to verify that it meets the requirement before filing it away. This is problematic for a few reasons:
Most onboarding coordinators aren’t insurance experts – nor should they be. Without an in-depth knowledge of certificates of insurance it can be tough to tell if the insurance coverage actually meets the requirements. When you receive a compliance notification, you’ll know right away that the COI you have is up to code.
It saves time. There’s paperwork and processes that can only happen once you know that a contractor has the proper coverage. Now, you can check insurance off the list and move on the moment it’s ready to go.
Future reference: With compliance notifications in your inbox, a quick search will tell you who is and isn’t compliant at a moment’s notice when you need to know later on.
Compliance changes. A contractor’s coverage can be cancelled, expired, or changed at any time, and it can take a while for the mailing address listed under Certificate Holder to be notified. With email notifications, you’ll know right away when there’s a liability gap you should be aware of.
Bunker Enterprise
Want to learn more about Bunker’s Certificate of Insurance screening, verification and monitoring services? Reach out to your account manager, (or email enterprise@buildbunker.com), schedule a call, or visit Enterprise.buildbunker.com to learn more!
If your interested in learning more visit https://www.buildbunker.com/ or contact us at support@buildbunker.com
