BrokerTech Ventures Startup, TrustLayer, Launches the Industry’s First Digital Proof of Coverage Pilot with Six Leading National Brokerages and Solution Providers
SAN FRANCISCO, Sept. 17, 2020 (GLOBE NEWSWIRE) — TrustLayer, the leading next generation insurance verification platform, is pleased to announce the launch of a Digital Proof of Insurance pilot with six leading National brokerages. TrustLayer is developing the industry’s first collaborative broker-led digital proof of coverage that is transforming the way insureds verify and prove coverage.
The inaugural participants in the pilot include; Holmes Murphy, CSDZ, Graham Company, IMA Financial Group, PayneWest Insurance, Conner Strong & Buckelew, and Consolidated Risk Solutions who collectively represent over $1B in broker distribution and wrap-up administration services.
These broker partners are considered some of the most innovative industry leaders and are founding members of BrokerTech Ventures (BTV). BTV is the first broker-centric accelerator and investment platform, playing an integral role in driving the adoption of leading insurance technology solutions in the market. TrustLayer is an alum of BTV, having recently participated in the inaugural cohort.
TrustLayer, its Brokers, and industry partners, will be announcing the initial Carriers selected to participate in the digital proof of insurance pilot in the coming weeks. TrustLayer’s proprietary Digital Proof of Coverage application creates a seamless process for exchanging information between policyholders verifying coverage with third parties.
TrustLaver provides the opportunity to reduce errors and omissions, empowering customers to share proof of insurance electronically. TrustLayer’s Digital Proof of Coverage eliminates fraudulent Certificates of Insurance (COI), protects insureds, and reduces manual, error-prone processes that negatively impact all. Brokers and Carriers will also have access to new revenue streams with the TrustLayer platform.
“BrokerTech Ventures and our broker partners have been critical to our success. It is great to partner with so many innovative firms to help shape the way policyholders are serviced for years to come.” – John Fohr, Co-Founder & CEO
“We could not be more pleased to have had the TrustLayer team as a part of our inaugural BrokerTech Ventures Accelerator Cohort. To see their growth and continued industry validation take place in such a short amount of time is remarkable. We look forward to being a part of their continued insurtech success and journey.” – Dan Keough, Holmes Murphy Chairman and CEO & BTV co-CEO.
TrustLayer is a collaborative risk management application that helps reduce friction between businesses. The company allows users to automate the verification of insurance, licenses, and compliance documents of their business partners (i.e., vendors, subcontractors, suppliers, borrowers, tenants, ridesharing and franchisees). TrustLayer uses robotic process automation (RPA) and AI to automate this manual process. This allows companies to automatically verify the insurance and licenses of their partners. TrustLayer’s pioneering solution is recognized by the industry and is a member of the BrokerTech Ventures (BTV) accelerator, BrushCreek Tech Insurance accelerator, winner of the 2019 R3 CordaCon Global Insurtech Challenge, and received top honors at The Institutes 2020 annual convention.