Certificial to Leverage AM Best Credit Rating Alerts
Updated: Oct 29, 2020
Certificial Customers to receive notification of a rating change to
verify Suppliers’ policies meet compliance requirements
JERSEY CITY, NJ (June 10, 2020) - Real-time intelligent insurance verification platform Certificial announced today that it has reached a licensing agreement with AM Best, a global credit rating agency, news publisher, and data analytics provider specializing in the insurance industry. Under terms of this agreement, AM Best has granted the rights to leverage Best’s Credit Ratings™ with a daily feed through the Certificial platform to provide users with notifications in the event of a rating change.
Launched in September 2019, Certificial allows insurance Requestors, Brokers, Carriers and Insureds to interact on a single platform, reducing operational expenses by fully digitizing and streamlining the process of verifying and submitting certificates of insurance (COI).
Carrier ratings can change daily, but many insureds only provide COIs once a year. Timely access to rating changes through the Certificial platform will help companies to improve their risk compliance, improve operational efficiencies, while also helping Agents and Brokers to manage communication with their customers.
“More and more, we’re seeing that companies require suppliers meet their insurance requirement limits using a stable and high-quality insurer,” said Certificial CEO Peter Teresi. “Our ability to leverage AM Best’s Credit Ratings builds on our commitment to automate legacy processing and enables all stakeholders to maintain a level of compliance that would otherwise be impossible. We’re so pleased to be able to meet that need and bring additional value to our customers by integrating credit rating alerts directly into the Certificial platform.”
Certificial is a real-time intelligent insurance verification platform, designed to simplify the Supplier management process by providing businesses with instant access to their Supplier’s insurance coverage and automatic updates when changes to their coverage occurs. The Certificial API integrates directly with brokers’ APIs as well as AMS providers, offering a seamless experience and accessibility for large and small Agents and Brokers alike with no associated costs to Insurers. For more information, visit www.certificial.com.
For more information about AM Best, visit www.ambest.com.