SAN FRANCISCO, CA – August 31, 2021 – Assurex Global and TrustLayer today announced a strategic partnership to provide Assurex Global Partners access to TrustLayer’s AI-powered collaborative risk management platform.
Access to TrustLayer’s platform enables Assurex Global Partners to offer a vendor risk management solution to insureds. This will enable insureds to better manage the administrative burden associated with proof of insurance verification. By automating a largely manual process, insureds stand to improve compliance, reduce risk, and ultimately deploy resources more optimally.
“We’re excited about the potential of TrustLayer’s innovative technology,” said Dean Hildebrandt, President & CEO of Assurex Global. “The ability to help companies automate the management and verification of Certificates of Insurance (COI) with AI and machine learning, in addition to their streamline compliance processes, will help our independent agents and brokers worldwide to better service clients.”
Virtually every business struggles with insurance verification. For those who do it well, the administrative burden is high -- with manual processes and over 200,000 static documents changing hands daily across the U.S. For those who don’t, the risk is astronomical, with studies showing that 75 percent of U.S. businesses are underinsured.
“Extending TrustLayer’s next-gen insurance compliance capabilities to the Assurex Global network demonstrates the innovative solutions and value they bring to Partners,” said John Fohr, Co-Founder and CEO of TrustLayer. “This commitment to innovation is what drew us to a strategic partnership with Assurex Global. We are thrilled to be able to help Partners continue to strive for excellence for their clients.”
Assurex Global is the world's largest privately-held commercial insurance, risk management and employee benefits brokerage group. It was founded to enable independent brokers to work collectively to better service clients. This expanded partnership with TrustLayer will support the Partners by leveraging innovative technology across all of its industry practice groups including Construction, Education, Employee Benefits, Manufacturing, Real Estate, Technology/Life Sciences, and others.
About Assurex Global
Assurex Global is the world’s largest privately-held commercial insurance, risk management and employee benefits brokerage group. The company operates as an exclusive Partnership, supported by more than 100 of the world’s most respected and successful insurance brokers. For more information, visit assurexglobal.com.
TrustLayer is an AI-powered collaborative risk management platform working to digitize the highly manual, error-prone, and paper-based process of insurance verification. With TrustLayer, companies can securely automate the verification of insurance, licenses, and compliance documents of their business partners (i.e., vendors, subcontractors, suppliers, borrowers, tenants, ridesharing, and franchisees) in an easy-to-use digital dashboard. TrustLayer is working with dozens of the largest brokers and carriers in the U.S. to build out a fully digital proof of insurance solution so companies will be able to validate in real-time that their business partners have the correct coverage. Founded by John Fohr and Vincenzo Acinapura, the company is backed by leading investors, including Craft Ventures, Abstract Ventures, Box Group, Propel Ventures, Sure Ventures and PruVen Capital, and has also received investments from more than 20 of the top 100 insurance brokers. To learn more, visit trustlayer.io, or follow us on Facebook, Twitter, and LinkedIn.