What Are Smart COIs, and How Can They Help Your Agency and Clients?

Guest blog by Peter Teresi, Certificial

Guest blogs are written by contributors outside of HawkSoft. The author's views are entirely their own and may not reflect the views of HawkSoft.


The Certificate of Insurance (COI) was developed in the 1970s and not much about their format has changed until recently, with the creation of the Smart COI. Let's explore how Smart COIs can help agencies reduce E&O exposure, create operational efficiency, and increase customer satisfaction. 


In this article you’ll learn:


What is a Smart COI?

A Smart COI is a certificate of insurance that exists in real time and is continuously updated with the most current information, as opposed to the traditional COI which is a point-in-time document. Both still use industry-approved forms, which are provided by ACORD in the US and CSIO in Canada. A Smart COI is a data-first experience, so if any changes are made, the COI  will immediately reflect that. 

How does this work? With Certificial, the data stays updated in real time through our Smart COI Network™. This is a robust network of agents and brokers, industry associations, software partners, insureds, requestors, carriers and MGAs, and government and regulatory bodies that are all connected on Certificial to continuously share and track Smart COIs and related data.


Certificial's Smart COI Network

Certificial's Smart COI Network

Smart COIs reduce Errors and Omissions (E&O) exposure

As an agent or broker, the Smart COI provides tremendous value by always having the most up-to-date version of your customer’s COI on file. With every single policy change, a new certificate is created. Policy updates, renewed endorsement documents, and even cancellation notices are seamlessly transmitted to the Requestor or Cert Holder. With each of these being automatic, there is little room for error, thereby dramatically reducing the risk of E&O exposure. 


Smart COIs create operational efficiency

As an agent or broker, utilizing Smart COIs will allow you to eliminate 90% of the time it takes to issue COIs.


Smart COI issuance

Issue COIs once, and always have the most current COI on file and in the workforce without ever leaving your management system.

Request management
Receive and respond to requests for insurance quickly when the certificate holder is also on the Smart COI Network.

Requirement comparison
View an automatic comparison between the insured’s coverage and the certificate holders’ request with ease.
Insured self-service enablement
Give your clients the ability to issue their own COIs with pre-approved information.
Stay informed with alerts so that you always know when your client needs more insurance.
Automatic distribution
Provide COI updates, distributions, cancellations, reinstatement notices, and more.
Coverage analysis
Help your clients determine if coverage changes impact any of their certificate holders.
Endorsement management
Apply blanket or scheduled endorsements to be shared in seconds.

Smart COIs Increase Customer Satisfaction

The use of Smart COIs not only makes your life easier, but also makes your clients' lives easier. Here’s how:

Allow clients to self-serve
Your clients can issue their own COIs with pre-approved information through their own self-service portal. The COIs are always accurate and up to date. Your clients will be able to start the job sooner and be more attractive to do business with by issuing Smart COIs.

Ensure adequate coverage is maintained
Smart COIs help clients know whether they are meeting coverage requirements at any time, and they are alerted when there are gaps in coverage.

Save time
Your clients will save time by easily being able to push coverage data to their own clients without having to go back to you, their agent or broker, each and every time.
Increase visibility to certificate holders
Your clients can view a complete list of certificate holders with whom their coverage information is being shared, and be granted access to policy information, endorsement documents, and more.

Getting started with Certificial is easy

Because Certificial is integrated with HawkSoft, it’s easy to manage COI data in a single location. Plus, it’s free for agents, brokers, and insureds. Become a fully digital agency today with Smart COIs.





Take your agency into the digital era

Add Certificial integration through the HawkSoft Marketplace.

   Join the Smart COI Network   






Peter Teresi

Author: Peter Teresi

Peter Teresi is the Co-Founder and Chief Executive Officer of Certificial. Prior to founding Certificial, Peter served as the CEO of ACORD Solutions Group (ASG). In this role, he shaped the overall strategy of ASG and oversaw the design of new solutions to operationalize ACORD Standards and enable a digital marketplace. During his nearly 20 years with ACORD, he held several other positions including Senior Vice President of Solutions, Chief Technology Officer, and Vice President of Standards and Technology. Peter's entire career has been dedicated to bringing innovative technology to the insurance industry.

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