Insurtech startup Thimble is launching a free tool to improve the collection, organization and administration of certificates of insurance.
Thimble Certificate Manager helps vendor managers organize and approve COIs associated with an unlimited number of projects. Insurance requirements, including policy type or coverage limit, can be customized by project and can be sent instantly to contractors with a single click.
Contracted businesses can purchase insurance via Thimble to be verified instantly or upload an existing COI from another insurance provider for approval. Thimble offers coverage by-the-month or for an hour, either of which can be obtained in less than 30 seconds with a few clicks. Coverage can be increased, paused or canceled instantly and without penalty from the Thimble app.
Certificate Manager also automates reminders and alerts contracted businesses to renew expiring policies-- ensuring that nothing slips off the radar, streamlining much of the oversight needed by the hiring organization.
Certificate Manager is designed for property managers and owners who need to track compliance of cleaners, hired security and others even across multiple properties as well as hotel and event venue managers who deal with fragmented sets of vendors for every gathering they host. The platform helps these managers stay organized and alert parties of COI requirements with one tool. Construction teams that hire subcontractors can also ensure the parties maintain their standard of work.