TrustLayer Partners with Tarmika to Bring On-Demand Quoting
and Verification to Businesses
Insurance verification leader to empower commercial businesses to quote and bind policies
in minutes with Tarmika
November 9, 2022 SAN FRANCISCO – TrustLayer and Tarmika, an Applied company, today announced a partnership to enable businesses to close coverage gaps on demand. The partnership integrates TrustLayer’s industry-leading insurance verification and Tarmika’s embedded insurance solution, Tunnel, to modernize the insurance verification process by providing a digital marketplace for additional insurance products to close coverage gaps.
“We’re on a mission to modernize the way businesses build trust when working together,” said John Fohr, Co-Founder and CEO at TrustLayer. “Our partnership with Tarmika connects a very important piece of that trust: quickly securing insurance coverage where gaps exist. I can’t underscore enough the importance of a fast, easy and open marketplace for this all to happen. With Tarmika, this is the beginning of what we’re building to support the complex compliance needs of businesses everywhere. My hope is that companies can now focus less on paperwork and more the reason they’re working together in the first place – the task at hand.”
Both TrustLayer and Tarmika are the leaders in their space. TrustLayer has been chosen by some of the largest in the insurance industry to solve one of its biggest problems. They’re backed by 25 of the top 100 brokers in the US and some of the largest names in venture capital. This is quite possibly the best way to manage, track and verify Certificates of Insurance and get insurance quotes for businesses. The strength of both solutions combines to provide an excellent experience for their clients.
TrustLayer automatically reads and interprets the information on a certificate of insurance (COI) in seconds. When a limitation or requirement is not met, the certificate holder is non-compliant and often needs to secure additional coverage to be eligible to work with the requestor. Using Tarmika’s embedded insurance solution, the buyer can quickly get multiple quotes with less questions and data prefill.
“We’re pleased to partner with TrustLayer and bring our embedded quoting solution to their clients as we agree that the ability to easily close coverage gaps at a moment’s notice is crucial element of a business’s success,” said Raghav Tanna, SVP of Small Commercial Lines, Applied Systems. “Our partnership with TrustLayer creates an end-to-end workflow for businesses to ensure the end-insured are properly covered, while removing the time it takes for businesses to flip between multiple applications to review the COI, identify gaps and search for the right coverage.”
Tarmika is a single-entry efficiency solution designed to streamline the commercial lines quoting process for independent agents. Founded in 2018, Tarmika was created by former insurance agents and carrier representatives to build technology, including agency-based commercial lines comparative rater ‘Bridge’ and embedded insurance solution ‘Tunnel,’ that enable carriers and agents to expand distribution channels, gain new business, and provide an enhanced customer experience.
TrustLayer is a risk modernization platform that makes it faster and easier for businesses to collect and verify the crucial compliance documents needed to work together. 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.