Table of Contents:
— Why look up vendor insurance coverage?
— How to verify vendor coverage in three clicks
— How to understand vendor profiles
Why look up vendor insurance coverage?
The main benefit of using The Jones Network is instant access to insurance data. Knowing how likely a vendor is to be compliant allows you to make informed decisions:
—Inform tenants that approving their ad-hoc vendors might take several days because the quality of their insurance coverage presents a risk to the building
—Vet vendors in advance and hire the ones most likely to be compliant for time-sensitive projects
—Plan your week in advance, knowing that vendors can quickly be approved and start working as early as the following day
How to look up a vendor’s insurance coverage in three clicks
Step 1: Go to your Jones account and use the network search bar to find the vendor or a subcontractor you seeking to approve.
Step 2: Select the set of insurance requirements you want to audit this vendor against (e.g. High, Moderate, or Low):
Step 3: Click “Add Vendor” and voila! You’ll see the vendor’s insurance coverage profile at a glance. For instance, Smith Contracting has great insurance coverage—they are very likely to be compliant with your requirements:
How does The Jones Profile work?
Currently, The Jones Network has hundreds of thousands of vendor COIs on file, and this number is growing daily. Each of these vendors has a Jones Profile—an insurance coverage summary alongside key insurance contact information and predictive analytics on the probability of becoming compliant on your property or project.
In addition to the basic info (such as the company’s name and address), you will be able to see:
— Insurance coverage details
— Predicted compliance status
— Verified insurance contacts
Related: The Jones Network in NYC—Brochure
Insurance Coverage Details
This section details coverage details and limits for all key policies.
Predicted Compliance Status
Predicted compliance status is based on insurance coverage data and calculated against the unique insurance requirements of a property or a construction project.
Vendors are assigned one of the three compliance statuses:
— Less likely to be compliant
— Likely to be compliant
— Very likely to be compliant.
Verified Insurance Contacts
Verified Insurance Contacts are the correct points of contact for any vendor. You will see the main contact, additional contacts, and insurance broker contact details. All contact details have been confirmed by Jones so that you don’t have to waste time reaching out to the wrong people.
Ready to automate COI collection at your company?