We Compared 7 Best COI Tracking Software - In-depth Feedback and Review

Every year, companies burn hundreds of payroll hours tracking third-party certificates of insurance (COIs). Teams chase Vendors for expired certificates and organize documents in spreadsheets and folders. This process consumes time and creates compliance gaps, so companies invest in Certificate of Insurance (COI) tracking software. 

Teams soon discover that their new platform still requires lots of manual work. Worse - risk transfer that the companies expected doesn't materialize: Most COI tracking platforms can’t detect fraudulent COIs and fail to identify when a Carrier cancels a policy mid-term. 

This gap between traditional COI tracking and effective risk management isn't universal. Some platforms actually save hundreds of payroll hours, improve compliance rates, eliminate fake COIs, and implement real-time monitoring of actual insurance policies. 

We surveyed users across seven leading COI tracking platforms and analyzed publicly available case studies to understand which solutions actually deliver value. This review breaks down what each platform:

• does well,
• where it falls short,
• and who it's actually built for.

We'll also cover pricing, core features, integrations, and customer support quality.

Why trust this comparison?

Most COI software reviews focus on surface-level features like user interface design and email automation, while ignoring the fundamental question: can this platform tell you if your Vendor's coverage is actually valid right now? We evaluated Certificial, Ebix, myCOI, TrustLayer, Jones, Billy, and SmartCompliance on the criteria that directly impact your liability exposure: real-time policy monitoring, fraud prevention, compliance outcomes, and whether the platform tracks certificates or tracks actual insurance coverage.

We also assessed all platforms on compliance automation effectiveness and support quality.

Key Takeaways:

Here's what the comparison uncovered:

• Certificial is the only platform with Smart COI technology that monitors insurance policies in real time, capturing mid-term cancellations, coverage reductions, and schedule-level changes (specific vehicles, equipment, locations) within seconds of changes in the Agent's system. (Skip to the review of Certificial)
• Legacy COI software can automate collection, but operates on static PDFs that become outdated the moment a Carrier makes policy changes
• Certificial achieves 90%+ compliance rates, compared with the 60-70% industry average for traditional COI tracking software
• Your choice depends on whether real-time policy monitoring and fraud prevention matter for your risk profile.

Here's a direct comparison of all certificate of insurance tracking software.

COI Tracking Software Checklist:

Here’s the quick checklist we created you can follow when speaking with vendors and evaluating which COI tracking software is the best for you:

1. Only accepts agent-submitted insurance documents (vs accepting COIs from vendors)
2. Extensive fraudulent COI mechanisms in place
3. Can detect a mid-term policy cancellation immediately
4. Can detect important changes to insurance policies that can impact compliance, such as reduction in Auto liability limits, also immediately
5. Handles insurance documents beyond a COI: endorsements, policy exclusions, Carrier info such as AM Best Rating, and more
6. Tracks schedule-level insurance data such as vehicle VINs, equipment (e.g. cranes), and locations. Just because your vendor has an Auto liability policy, it doesn’t mean that their vehicle that just arrived at your jobsite is on it.
7. Significantly cuts time on back-and-forth with vendors (the biggest timesuck isn’t collecting a COI or reviewing it for compliance - it’s explaining to the confused vendor why their insurance is not compliant and what they need to do to fix it.
8. Centralizes all insurance data and processes in one place 
9. Easy to navigate, intuitive interface
10. Audit-ready trail of all compliance-related actions and communications.

COI Tracking Software #1 - Certificial

Founded as a risk-first platform, Certificial addresses the fundamental vulnerabilities in traditional COI tracking: reliance on static PDF documents that become outdated within days of submission, and acceptance of Vendor-submitted certificates that can be forged.

Overview and Core Capabilities

Certificial targets mid-to-large enterprises managing Vendors and Suppliers across construction, manufacturing, transportation, and other industries. The platform isn't industry-specific but customizes features to serve the unique needs of high-risk sectors.

Here are the core capabilities.

Smart COI technology:
Real-time connection to insurance agent's policy data instead of static PDFs, capturing policy changes (cancellations, limit reductions, schedule modifications) within seconds 

Source verification:
Accepts certificate submissions only from licensed, verified insurance Agents and Brokers. Vendors cannot submit documents, eliminating Vendor insurance fraud entirely 

Schedule-level policy data:
Monitors specific assets covered on policies (vehicle VINs, equipment serial numbers, covered locations) and reflects changes immediately when items are added or removed

Mid-term change detection:
Captures policy cancellations, coverage reductions, and schedule modifications the moment they occur in the Agent's system, not 30+ days later through Notice of Cancellation

Automatic renewal updates:
When Agents renew Vendor policies, Certificial receives updated COIs automatically - no more chasing Vendors during January renewal season

Dual-platform architecture:
Combines COI tracking for risk managers with a COI issuing platform for Agents and Brokers, creating direct data flow

Third-party risk integrations
Dozens of integrations push real-time insurance data into supplier risk management and Vendor management platforms.

The distinguishing factor is architectural: Certificial doesn't track certificates, it monitors insurance policies. Because the platform connects directly to Agent management systems, policy changes appear in your account immediately - policy cancelled Tuesday morning shows "Cancelled" status within minutes. 

General Liability coverage limits reduced from $2M to $1M at renewal? Your system reflects this the moment the Agent updates the policy.

This eliminates the verification gap that makes traditional COI tracking fail. With static PDFs, a certificate can be 100% valid when submitted but cancelled days later - and you won't know until the expiration date forces you to chase renewal. Smart COIs eliminate this blind spot entirely.

Certificial's Advantages Over Other COI Tracking Software

Certificial delivers measurable compliance improvements that other COI tracking software can't match because they fundamentally operate differently.

PowerFlex achieved 94% compliance compared to the 60-70% industry average, while saving 2-3+ hours per week on manual Vendor follow-up. One transportation client increased compliance from 82% to 98%+ and reassigned 3-5 full-time employees per distribution center previously dedicated to manual verification calls to perform other tasks.

Key advantages over other COI tracking tools include:

• 100% elimination of Vendor insurance fraud: Source verification through licensed Agents makes forged certificates impossible. Vendors cannot submit documents
  
• Real-time policy monitoring: Automatic alerts when coverage changes or expires, capturing mid-term cancellations within seconds instead of waiting for Notice of Cancellation (which Carriers often fail to send)
• Schedule-level verification: Confirms specific vehicles (by VIN), equipment (by serial number), or locations are actually included on the policy, not just that general coverage exists
• Simplified renewals: Once connection to a Vendor's policy is established, Certificial automatically receives updated COIs when Agents renew policies - no more chasing Vendors during high-volume renewal months
  
• Protection against mid-term cancellations and limit reductions: Captures when Vendors cancel policies mid-term or reduce coverage limits to cut costs, even if they don't notify you

Certificial's Limitations

Certificial is a newer brand compared to legacy providers like Ebix and MyCOI, though the technology is significantly more advanced. The robust feature set comes with a modest learning curve, earning a 4 out of 5 on ease of use.

Onboarding timeline depends on how organized your Vendor data is. If you can provide clean Vendor lists with Agent contact information quickly, implementation moves fast. If you're consolidating data from multiple spreadsheets and systems, expect more preparation time.

Certificial's Security and Risk Protection

Based on our evaluation, Certificial earns a HIGH security rating due to its architectural design that makes Vendor insurance fraud impossible.

The platform accepts submissions only from verified insurance Agents, not Vendors. There's no opportunity for Vendors to create fraudulent documents because Vendors cannot submit anything.

Real-time monitoring captures coverage changes as they occur. When a policy gets cancelled, you know within seconds - not 30+ days later if the Carrier remembers to send Notice of Cancellation. 

Schedule-level verification confirms specific assets (equipment, vehicles, locations) are included on policies and reflects changes the moment Agents modify schedules. You can verify that a specific crane or truck is covered before allowing it on-site, with no phone calls or document hunting required.

Pricing

Certificial offers a free plan for up to 5 Vendors, making it accessible to small teams for testing the platform. For organizations working with more than 5 Vendors, pricing is customized based on Vendor volume and required features. Certificial is moderately priced compared to other certificate of insurance tracking solutions.

ROI justification is straightforward. Time savings alone deliver 100+ hours annually per organization - no more calling Agents quarterly to verify coverage, no more chasing Vendors for renewal documents. Risk reduction is even more compelling: preventing a single uninsured incident can save $500,000+. The compliance rate improvement (60-70% to 90%+) often justifies the investment before calculating time savings.

Certificial is best for organizations where knowing that coverage is actually valid right now matters more than minimizing software costs.

Construction, manufacturing, and transportation industries with significant liability exposure see the fastest ROI.

Certificial's 4.8 out of 5 overall score reflects its unique position as the only platform delivering both 100% fraud protection and real-time policy monitoring - the two capabilities that directly prevent uninsured liability exposure.

Book a free demo of Certificial to see how real-time policy monitoring drives 90%+ compliance rates.

COI Tracking Software #2 - Ebix

Founded in 1976 and publicly traded for decades, Ebix built its reputation serving insurance Carriers, Brokers, and large enterprises with comprehensive insurance technology software. The platform handles everything from policy administration to claims processing to distribution networks.

COI tracking is part of this broader ecosystem as a certificate management module, not a standalone product.

Worth noting: Ebix filed for bankruptcy in 2023, though it emerged from the crisis under new ownership. The platform continues to operate, but the financial instability is worth considering when evaluating a long-term partnership.

Ebix's Overview and Core Capabilities

Ebix's COI tracking functionality exists within its certificate management module, which is part of the larger insurance compliance and data management suite. The system provides centralized storage for certificates, automated renewal reminders, and basic compliance alerts when coverage lapses or requirements aren't met.

Ebix handles core certificate workflows:

• Automated collection processes that request certificates from Vendors and Contractors (but not insurance Agents)
• Centralized repository management for storing and organizing insurance documents
• Compliance monitoring that checks certificates against configured requirements
• Renewal tracking with automated reminders before expiration dates
• Multi-entity management for organizations with complex corporate structures
• Reporting dashboards for compliance oversight across locations and divisions

The system supports custom configuration of compliance requirements, allowing organizations to define specific coverage types, limits, and endorsements required for different Vendor categories.

Advantages Over Competitors

Ebix's enterprise pedigree shows up in several areas that matter to large, complex organizations:

Enterprise scalability: This COI tracking platform handles high-volume certificate management for organizations tracking thousands of Vendors and Contractors across multiple locations or international operations. For Fortune 500 companies with global operations managing certificate compliance across dozens of subsidiaries, Ebix won't struggle with data volume.

Carrier integration network: Direct connections to insurance Carriers and Brokers through Ebix's established exchange network can speed up certificate verification and updates. However, these connections don't provide real-time verification - they facilitate document exchange, not continuous policy monitoring.

Comprehensive insurance platform: Organizations already using Ebix for insurance distribution, policy management, or Broker operations benefit from a unified data management system.

Customization for complex requirements: Advanced configuration options accommodate sophisticated compliance frameworks that vary by business unit, geography, or Vendor category. For organizations with compliance requirements that span multiple regulatory jurisdictions or involve intricate coverage specifications, Ebix provides the flexibility to map those requirements.

Ebix's Limitations

The enterprise focus creates predictable challenges for companies that don't need enterprise-scale infrastructure:

Overly complex for mid-market: The platform's feature depth and enterprise architecture create unnecessary complexity for small to mid-sized organizations with straightforward COI tracking needs. The learning curve is steep, the interface reflects early 2000s design, and configuration requires far more effort than straightforward certificate tracking warrants.

Limited fraud prevention: Ebix focuses on data management and workflow automation rather than verifying certificate authenticity. The system accepts uploaded PDFs at face value, with no forensic analysis, Agent verification, or fraud-detection algorithms. You'll catch expired certificates, but not fabricated ones.

Pricing barriers: Enterprise-level pricing structures make Ebix cost-prohibitive for organizations that only need COI tracking functionality. You're paying for the entire platform infrastructure whether you use it or not.

Implementation requirements: Deployment typically requires significant setup time, IT resources, and integration work compared to purpose-built COI tracking solutions. Expect weeks or months for implementation, not days.

No Smart COIs: The platform lacks real-time policy monitoring found in specialized tools like Certificial. Certificate review remains a manual process that can't detect if the policy shown on a certificate got cancelled yesterday.

Dated interface: The user experience reflects its legacy architecture. Navigation isn't intuitive, workflows require training, and the interface doesn't match contemporary SaaS applications.

Ebix's Security and Risk Protection

Ebix maintains enterprise-grade data security infrastructure. The platform holds SOC 2 Type II certification, uses encryption protocols for data transmission and storage, and provides role-based access controls to limit who can view or modify certificate information.

Audit trails track certificate access and modifications, creating compliance documentation that supports internal controls and regulatory requirements. These security measures protect the integrity of your certificate data repository.

However, fraud protection capabilities are limited. Ebix's security model focuses on protecting data from unauthorized access rather than verifying certificate authenticity. The system doesn't offer forensic analysis to detect document manipulation, Carrier verification to confirm coverage, or fraud-detection algorithms to flag suspicious certificates.

Risk protection centers on workflow compliance: ensuring certificates are collected from Vendors, reviewed against requirements, and renewed before expiration. The system helps you maintain a complete certificate file and avoid coverage gaps from expired certificates.

What it can't do is verify whether those certificates reflect actual valid coverage. If a Vendor submits a certificate showing coverage that was cancelled last week, Ebix will store it, track its expiration date, and send renewal reminders on schedule. The system treats every uploaded PDF as representing valid coverage.

Ebix's Pricing

Ebix doesn't publish transparent pricing for its COI tracking module. All pricing is quote-based and varies significantly based on implementation scope, user count, integration requirements, and bundled services.

Organizations report annual costs typically starting in the mid-five figures for basic deployments. Comprehensive implementations that include multiple modules, extensive integrations, and enterprise-wide deployment can reach six figures annually. The pricing model often includes separate charges for implementation fees, annual licensing, and support packages.

For organizations that need only COI tracking, without Ebix's broader insurance management capabilities, the investment usually exceeds the value delivered.

The economics make sense if you're already using Ebix for insurance distribution or exchange services and want to add certificate of insurance tracking to your existing implementation. As a standalone COI tracking solution, Ebix's pricing puts it out of reach for most companies.

Ebix is best for large enterprises that already use Ebix for insurance distribution or exchange services and need integrated COI tracking within their existing platform.

Skip if you're a small to mid-sized organization, need fraud prevention capabilities, want real-time policy monitoring, or need a focused COI tracking solution without enterprise complexity and pricing.

COI Tracking Software #3 - MyCOI

MyCOI targets growing companies (typically 100-500 employees) that manage 25-100 Vendors and want to move beyond manual tracking but don't need enterprise-level features. The platform delivers straightforward automation at a mid-market price point.

MyCOI's Overview and Core Capabilities

MyCOI focuses on automating the routine tasks that consume compliance team bandwidth:

• Automated Vendor outreach: System emails Vendors with certificate requests and follow-ups
• Vendor self-service portal: Vendors upload certificates directly, reducing manual intake work
• Certificate storage: Centralized repository replaces email attachments and shared drives
• Expiration alerts: Automated reminders notify Vendors before certificates lapse
• Requirement templates: Pre-built insurance requirement sets for common scenarios

The interface is clean and user-friendly for teams without dedicated compliance roles. Setup takes less time compared to enterprise platforms like Ebix.

MyCOI's Advantages Over Competitors

MyCOI wins on accessibility and ease of implementation:

• Mid-market pricing: More affordable than enterprise-tier platforms without sacrificing basic automation
• Faster deployment: Get up and running without the multi-week implementations required by more complex COI tracking software
• Straightforward interface: Teams can start using it without extensive training or onboarding
• Vendor self-service: Reduces manual data entry by shifting upload responsibility to Vendors

Limitations

The mid-market positioning comes with significant tradeoffs:

• No Smart COIs: Can't monitor policy changes after initial submission - if a Vendor's coverage gets cancelled in March, you won't know until December when you request renewal 
• No source verification: You're accepting Vendor-submitted PDFs, which creates opportunity for fraudulent certificates - Integration gaps: Fewer pre-built connections compared to enterprise COI tracking tools
• Scalability constraints: May struggle with 100+ Vendors or complex multi-project tracking - Generic workflows: Less specialized than vertical-focused platforms built for specific industries such as Jones or Billy - Smaller support team: Customer support resources don't match enterprise Vendors

MyCOI's Security and Risk Protection

Rating: LOW

MyCOI provides basic certificate storage and tracking, but no fraud detection capabilities. The platform accepts Vendor-submitted PDFs without verification - you're trusting that the documents Vendors upload are legitimate and current.

There's no Smart COI technology to monitor policy changes after submission, so you won't know if a certificate becomes invalid between renewal cycles. If a Vendor submits a valid certificate in January, then their policy gets cancelled in March, MyCOI will continue showing that certificate as compliant until expiration date - even though actual coverage disappeared months ago.

MyCOI's Pricing

MyCOI uses tiered pricing starting around $200-400/month for smaller plans, with per-Vendor or per-user pricing models depending on your needs. You're paying significantly less than enterprise platforms, but receiving limited functionality in return.

Best for: Mid-sized companies seeking basic automation on a budget with low-risk Vendor relationships.

Skip if: You need fraud protection, manage high-risk Vendors, or require real-time policy monitoring.

COI Tracking Software #4 - SmartCompliance

SmartCompliance positions itself as an all-in-one contractor compliance hub rather than a focused COI tracking solution. That fundamental difference shapes everything about how it works and who it serves.

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Overview and Core Capabilities

SmartCompliance is a multi-feature compliance platform that covers insurance tracking, contractor management, training records, and safety documentation under one roof. The platform's core capabilities include:

• Certificate tracking with basic expiration monitoring and renewal reminders
• Contractor prequalification workflows that vet Vendors beyond just insurance compliance
• Document management serving as a central repository for all compliance documentation
• Compliance reporting dashboards that provide cross-functional visibility
• Customizable workflows that adapt compliance processes to company-specific requirements

The platform's scope extends beyond insurance to cover safety training records, industry certifications, and background checks in one system. Risk management, safety, HR, and procurement teams can all access the same software and data.

Advantages Over Competitors

SmartCompliance's main advantage is consolidation. Companies managing complex contractor compliance requirements across multiple departments benefit from the unified approach:

• Single platform eliminates the need to manage separate systems for insurance, safety, and HR compliance
• Multi-department utility means risk, safety, HR, and procurement teams work from shared data
• Contractor prequalification extends beyond insurance to include safety records, training certifications, and background verification
• Customizable workflows adapt to industry-specific or company-specific compliance requirements
• Centralized document repository keeps all compliance records accessible in one location

Limitations

The jack-of-all-trades approach creates predictable tradeoffs. SmartCompliance's COI tracking features are less sophisticated than specialized platforms:

• Interface complexity creates a steeper learning curve because of the broader feature set - Over-scoped for insurance-only needs means you're paying for safety management, training tracking, and other features you might not use 
• Implementation timeline runs longer due to broader feature configuration across departments - No specialized fraud prevention capabilities or Smart COI technology 
• Basic certificate verification doesn't match the sophistication of purpose-built COI platforms

Security and Risk Protection

Rating: LOW-MID

SmartCompliance offers basic certificate verification and expiration tracking, but lacks the advanced protection features that platforms specialized for COI tracking provide.

The platform cannot detect fraudulent certificates or monitor coverage changes in real time because it doesn't include Smart COI technology or direct AMS connections.

Compliance tracking focuses on collecting documentation rather than verifying insurance data. If a Vendor's policy gets cancelled mid-term or coverage limits get reduced, SmartCompliance won't reflect these changes until you manually collect updated certificates.

Companies facing fraud risk or managing high-value projects should look elsewhere for protection.

Pricing

SmartCompliance uses custom pricing based on which modules you select and your user count. Pricing typically falls in the mid-to-high range due to the broader feature set. That makes it cost-inefficient if you only need COI tracking.

SmartCompliance is best for companies that need comprehensive contractor compliance management, covering safety training, background checks, certifications, and insurance verification across multiple departments.

Skip SmartCompliance if you only need COI tracking software.

COI Tracking Software #5 - TrustLayer

TrustLayer built its platform around Vendor collaboration and modern UX design, appealing to companies that want certificate tracking without the pain of older systems. Their pitch centers on AI/ML verification capabilities and a network of 298K+ companies already in their system.

TrustLayer Overview and Core Capabilities

TrustLayer is a modern COI tracking software that emphasizes automated verification and Vendor network effects. The system handles the core compliance workflow without requiring Vendors to create login credentials.

Core features include:

• Automated verification: Claims AI/ML-powered certificate analysis and fraud detection
• Vendor network: 298K+ companies already in the system
• Digital proof of insurance: Centralized repository with expiration tracking
• Compliance monitoring: Automated alerts and renewal reminders
• Industry benchmarking: Compare your compliance rates against peer companies
• Collaborative workflows: Built-in Vendor communication tools

TrustLayer targets mid-market to enterprise companies (typically managing 50+ Vendors) that prioritize modern interface design and Vendor experience over deep risk protection features.

Advantages Over Competitors

TrustLayer differentiates itself primarily on user experience and Vendor collaboration:

• Modern interface: Clean, intuitive design that feels contemporary compared to legacy platforms like MyCOI or older systems
• No Vendor login required: Simplified Vendor experience eliminates one common friction point in the certificate collection process
• Large Vendor network: If your Contractors are already in TrustLayer's 298K+ company database, onboarding is faster
• Collaborative workflows: Vendor communication tools built directly into the platform rather than requiring email back-and-forth
• Industry benchmarking: See how your compliance rates stack up against similar companies in your sector
• Growing integration ecosystem: Building connections to project management and accounting systems, though not as extensive as mature platforms

Limitations

TrustLayer's relative youth shows up in several areas:

• Verification specifics unclear: Claims AI/ML fraud detection prominently but doesn't detail methodology publicly - it's unclear whether this means forensic PDF analysis or actual Carrier verification
• May lack full workflow automation: Doesn't appear to offer the depth of enterprise workflow capabilities found in mature platforms 
• Customer support maturity: Smaller support team compared to established Vendors, which may affect response times during critical situations

Security and Risk Protection

Rating: MID

TrustLayer emphasizes AI/ML-powered fraud detection in their marketing but provides limited transparency about how it actually works.

• Claims AI/ML fraud detection but lacks specifics on methodology or what types of fraud it catches 
• No Smart COI technology or real-time policy monitoring mentioned - Unclear verification method: Doesn't specify whether verification connects directly to insurance Carriers or relies on certificate analysis. 
• Cannot detect when certificates become outdated if policies change mid-term

If fraud prevention is your primary concern, TrustLayer doesn't provide the same level of verification transparency or Carrier-direct technology as platforms built specifically around risk protection, such as Certificial.

Pricing

TrustLayer uses custom pricing based on Vendor volume, positioned in the mid-range tier. There's no public pricing available - you'll need to schedule a demo to get a quote.

Best for: Companies prioritizing modern user experience and Vendor collaboration features with moderate risk tolerance.

Skip if: You need proven fraud prevention technology, Smart COI real-time monitoring, or extensive case study validation of compliance outcomes.

COI Tracking Software #6 - Jones

Jones built its platform specifically for large construction firms and real estate developers who need end-to-end compliance automation with industry-specific workflows. It's designed for enterprises managing multiple projects simultaneously, with hierarchical organization management and audit-ready reporting that speaks the language of risk managers.

Overview and Core Capabilities

Jones serves enterprises with existing project management systems that need COI tracking software that integrates directly with their daily workflows. Core features include:

• End-to-end automation for certificate collection and tracking across multiple construction projects
• Coverage gap detection that identifies deficiencies and generates Vendor communications (though it relies on OCR plus human review, so the official turnaround time (according to the information published on their website) takes 24 hours rather than seconds.
• Native integration with Procore and other construction management platforms
• Audit-ready reporting with comprehensive compliance documentation for risk and insurance audits
• Multi-project tracking with hierarchical organization management for enterprise structures

The platform handles policy verification and gap detection with a 24-hour SLA, though that turnaround can stretch during high-volume renewal months when everyone's scrambling to update certificates.

Advantages Over Competitors

Jones has strong brand recognition in the construction vertical, which translates to industry credibility when you're presenting your compliance system to stakeholders.

Their purpose-built workflows understand construction compliance requirements without customization, and their Procore integration is genuinely bi-directional, with data flowing both ways rather than requiring manual exports.

Customer support is solid (our rating is 4/5), with teams who understand construction terminology and regulatory requirements specific to real estate development projects.

Limitations

Jones starts to show its limitations when you compare what it can and can't do:

• No Smart COI capabilities - the platform can't monitor policies in real-time and automatically detect coverage changes after submission 
• Limited fraud prevention since there's no source verification - Vendors can submit certificates, and verification happens through manual review rather than direct Agent connections 
• Exclusively serves construction and real estate. If you operate in other industries, you're out of luck 
• Limited user autonomy with one-size-fits-all automations - you can't customize the language or cadence of communications going out to Vendors 
• Heavy dependence on the Jones team to modify data or manage your account settings - creates friction when you need immediate answers

The lack of customization and user control might be frustrating for teams that want to manage their own workflows rather than rely on Vendor support for routine changes.

Security and Risk Protection

Rating: MID

Jones offers semi-automated policy verification and coverage gap detection, but it relies on static PDF certificates submitted by Vendors - certificates that could be fraudulent or outdated.

Without Smart COI capability, the platform can't automatically detect coverage changes or verify certificate authenticity in real-time after submission.

The verification team might catch obvious issues during their 24-hour review, but sophisticated fraudulent certificates can slip through since the primary verification method is calling Carriers manually.

This limitation keeps compliance rates at around 65-75% (estimated), which is above basic automation but well below what's possible with real-time policy monitoring.

Pricing

Jones operates at the premium end with custom enterprise pricing based on user count and integrations.

There's no published pricing. You'll need a sales consultation to get a quote. Expect this to be more expensive than mid-market alternatives such as Certificial or MyCOI.

Jones is the best fit for large construction or real estate enterprises that need Procore integration and industry-specific workflows, with established compliance teams.

Skip Jones if you require fraud prevention capabilities, need to know if a Vendor canceled or changed the policy mid-term, operate outside construction and real estate, or you're a small to mid-sized business looking for cost-effective solutions with user autonomy.

COI Tracking Software #7 - Billy

Billy carved out a narrow niche in property management COI compliance. It's built for landlords and property managers who need to verify that Tenants and Vendors carry the required insurance before move-in or service work begins.

Overview and Core Capabilities

Billy targets property management companies, commercial landlords, and residential portfolio managers with workflows designed specifically for real estate insurance compliance.

Core features include:

• Tenant and Vendor insurance tracking tied to lease agreements and Vendor contracts
• Lease integration that connects insurance requirements to lease terms and renewal dates
• Unit and property-level tracking across buildings, units, or entire portfolios
• Automated Tenant communication for insurance compliance reminders and follow-ups
• Pre-built templates for property-specific coverage requirements
• Automated renewal tracking to catch expiring certificates before coverage lapses

Advantages Over Competitors

Billy's property management specialization means the interface and workflows match how property managers actually work.

Lease integration eliminates manual tracking of insurance requirements against Tenant move-in dates.

The platform offers straightforward, transparent pricing tailored to property management companies, without the complexity or cost of enterprise platforms.

Limitations

Billy's narrow vertical focus is both its strength and weakness. It's only relevant for property management and real estate. If you operate in construction, manufacturing, logistics, or retail, Billy won't work for your workflows.

Additional limitations:

• Basic verification with no advanced fraud detection or Smart COI capabilities 
• Smaller platform that's less robust than other COI tracking software like Jones or Certificial - Limited integrations beyond property management systems, with few connections to project management or ERP platforms 
• Accepts Vendor-submitted certificates at face value without Carrier verification

Security and Risk Protection

Rating: LOW

Billy provides basic certificate collection and expiration tracking, but no fraud detection capabilities, no direct Carrier verification, and no Smart COI technology or real-time monitoring.

It accepts Vendor-submitted certificates without validation, leaving you exposed to fraudulent or altered documents. If a Tenant's policy gets cancelled mid-lease, Billy won't detect this until you manually request an updated certificate.

Pricing

Billy uses tiered pricing based on property or unit count, generally affordable for small-to mid-sized property management companies. Pricing starts around $100-300 per month depending on portfolio size.

Best for property management companies and landlords needing basic Tenant and Vendor insurance tracking.

Skip it if you operate outside of property management or need fraud prevention capabilities.

You've seen the features, pricing, and limitations. Now comes the real decision: which platform matches your actual risk profile and budget constraints?

Final Comparison: Which COI Tracking Software Is Right for You?

Recommendations by Use Case

Choose Certificial if:

• Fraud prevention and risk reduction are top priorities
• You need proven compliance outcomes with 90%+ rates
• Real-time policy monitoring is critical for high-risk Vendors and you need to know within seconds when coverage gets cancelled or reduced
• You operate in construction, manufacturing, transportation, or logistics with significant insurance requirements
• Schedule-level verification matters - you need to confirm specific vehicles (by VIN), equipment (by serial number), or locations are actually covered on policies
• ROI justification matters: time savings and prevented losses justify moderate pricing, or you have fewer than 5 Vendors and can use their free plan
• Book a demo of Certificial to see how real-time policy monitoring can help you achieve 90%+ compliance rate

Choose MyCOI, Ebix, SmartCompliance, or TrustLayer if:

• You have low-risk Vendor relationships and limited fraud concerns
• Budget constraints prioritize low cost over risk reduction
• Basic automation of certificate collection and expiration tracking meets your needs
• You're comfortable with 60-70% compliance rates and the exposure that creates

Choose Jones if:

• You're a large construction or real estate enterprise already using Procore, and don't mind waiting 24 hours for verification or not having real-time visibility into COI validity
• Industry-specific workflows outweigh fraud prevention concerns
• Enterprise features and audit reporting are requirements

Choose Billy if:

• You're exclusively in property management or real estate managing landlord-Tenant insurance
• Budget is the primary concern and liability exposure is minimal

The Critical Question

Your software choice ultimately answers this question: are you tracking certificates or managing insurance risk?

Traditional platforms like MyCOI, Billy, Ebix, and SmartCompliance track certificates - confirming a PDF exists in your files. Mid-tier platforms like Jones and TrustLayer add verification workflows and automation. 

Only Certificial monitors actual insurance policy status in real-time through Smart COI technology.

The compliance rate differential tells the story: 60-70% with traditional tracking versus 90%+ with Smart COIs. The fraud protection differential is even starker: accepting PDFs at face value versus 100% fraud elimination through source verification.

For organizations managing significant Vendor insurance requirements, the choice comes down to what you're actually trying to protect against.

The Bottom Line

If fraud prevention and compliance outcomes matter more than budget minimization, Certificial stands alone as the only platform that solves the fundamental vulnerabilities in COI tracking: Vendor-submitted forgeries and outdated coverage data.

Three actionable next steps based on your situation:

• High-risk operations (construction, manufacturing, transportation): Request a Certificial demo and calculate ROI based on time savings (PowerFlex case study: 2-3+ hours weekly) and risk reduction (single uninsured incident can cost $500K+). The compliance rate improvement alone (60-70% to 90%+) often justifies the investment within the first prevented incident.
  
  
• Mid-risk operations with enterprise requirements: Evaluate Jones if you're construction-focused with Procore integration needs, or TrustLayer if you prioritize modern UX. Accept that you're trading fraud prevention and real-time monitoring for lower costs or specific features.
  
  
• Low-risk operations (small Vendor counts, low liability exposure): MyCOI or Billy (property management only) provide basic automation at affordable pricing. Understand you're tracking certificates, not monitoring actual risk.

The most common mistake in COI tracking software selection: optimizing for ease of use and cost while ignoring the core problem these platforms should solve - protecting your organization from uninsured risk. 

Smart COI technology and fraud prevention aren't premium features. They're the foundation of effective insurance compliance.

Make your choice based on whether you're willing to accept the vulnerabilities of traditional tracking or need the protection that only real-time policy monitoring provides.

FAQ

What is a Smart COI and why does it matter for compliance?

A Smart COI is a direct, real-time connection to insurance Carrier or Broker data that monitors actual policy status rather than relying on static PDF certificates.

Traditional COIs are snapshots - accurate at submission but unable to detect if coverage is cancelled, limits are reduced, or specific assets are removed from policy schedules later. Smart COIs update continuously (in Certificial's case, within seconds of changes in the Agent's system), automatically alerting you to coverage changes.

This matters because it solves the "stale certificate problem" that causes most compliance failures. A certificate can show valid coverage through December, but if the policy gets cancelled in March, traditional tracking won't detect this until you manually request renewal. Smart COIs reflect the cancellation immediately.

PowerFlex achieved 94% compliance rates with Smart COIs versus the 60-70% industry average with traditional tracking.

How can I tell if a COI tracking platform actually prevents fraud?

Ask three specific questions:

Does the platform verify certificates directly with insurance Carriers or Agents, or does it analyze Vendor-submitted PDFs? Only direct source verification eliminates fraud risk. If Vendors can upload documents themselves, forgery remains possible.

Can Vendors upload certificates directly, or must verification happen through independent channels? If Vendors control the submission process, fraud is possible regardless of how sophisticated the platform's PDF analysis claims to be.

Does the platform offer schedule-level verification - confirming your company or project is specifically named on the policy, along with specific vehicles, equipment, or locations? This level of detail requires direct policy access, not just certificate analysis.

As of this comparison, only Certificial provides all three capabilities through its Smart COI technology and source verification architecture. Other platforms claim "AI verification" or "fraud detection" but rely on certificate analysis, which sophisticated fraud can defeat.

What compliance rate should I expect from COI tracking software?

Industry average with manual tracking or basic automation: 60-70%.

Platforms with robust automation and Vendor communication (Jones, TrustLayer): 65-75%.

Platforms with Smart COI technology (Certificial): 90%+.

The difference comes down to real-time monitoring - traditional platforms can't detect when certificates become outdated between renewals. If a Vendor's policy gets cancelled in March but the certificate shows coverage through December, traditional tracking shows them as compliant for nine months despite having zero coverage.

If a Vendor claims higher rates without Smart COI capability, request customer references with documented compliance audit results.

Is COI tracking software worth it for companies with fewer than 50 Vendors?

It depends on risk exposure, not Vendor count.

A transportation company with 20 delivery drivers faces higher risk than a SaaS company with 100 low-risk service Vendors.

Calculate: (time spent chasing certificates monthly) + (potential cost of single uninsured incident) + (audit or legal risk). If the total exceeds $10K annually, automation justifies itself.

For high-risk industries like construction or transportation, even a small Vendor count can create significant exposure. A single uninsured incident can cost $500K+, making even premium COI tracking software an easy ROI decision.

Can I switch COI tracking software if my current platform isn't working?

Yes, but plan for 30-90 days transition depending on Vendor count and platform complexity.

Before switching, identify specific failures in your current system - fraud concerns, low compliance rates, poor Vendor adoption - and confirm the new platform directly addresses those gaps.

Switching from one traditional tracking platform to another rarely solves fundamental problems. You're just changing interfaces. If your current platform can't detect mid-term policy cancellations or verify certificate authenticity, moving to another platform with the same limitations won't improve outcomes.

The most important question: does the new platform offer Smart COI technology and source verification, or is it another system that accepts Vendor-submitted PDFs and hopes nothing changes?

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