(Image source: Evident homepage.)
Evident (Atlanta), the provider of the Evident Insurance Verification has announced the addition new capabilities to the solution, including Decisioning Criteria, Exception Management Workflows and Enhanced Communications. These capabilities allow customers to manage tens of thousands of suppliers, vendors, franchises, and other third-party partners, with flexibility and precision, driving higher compliance and partner satisfaction, according to a statement from the vendor. Evident says its new capabilities are already being deployed and will be available to all customers by the end of the quarter.
“Our customers have embraced the automation and decisioning our platform provides as it improves their compliance rates and reduces their risk,” Comments David Thomas, founder and CEO, Evident. “Now, we’re adding more powerful tools for managing requirements and driving third party satisfaction.”
Evident customers, Rubicon, a software platform that provides smart waste and recycling solutions for businesses and governments worldwide, can create precise, granular requirements based on all manner of criteria and can model and test their impact before deployment, the vendor statement says. Evident says its new capabilities allow businesses to easily manage more sets of requirements, making their programs much more effective and third party-friendly.
Evident cites internal research that found that, for the average enterprise, 75 percent of third parties fail to meet contractual insurance requirements. Evident says its platform solves this problem by giving enterprises unprecedented versatility and precision in creating insurance requirements to accommodate a wider range of third-party partners; evaluation capabilities to test potential new requirements and criteria rules before implementation; and automation tools that improve communication with Insureds and streamline exceptions and overrides to better guide third parties toward compliance.
The latest version of Evident’s Insurance Verification Solution includes the following, as described by the vendor:
Decisioning Criteria: Enables the creation of many unique requirement sets for multiple different vendor requirements and supports a wide array of insurance policy types and detailed policy criteria
Exception Management Workflows: Provides unprecedented granularity, making exceptions easier to document and audit at the criteria, coverage, and Insured levels
Enhanced Communications: Enables development of highly customized and precise, contextually-targeted responses to various third-party categories, even down to a single third party, all through a powerful scheduling engine
“Our ability to automatically verify against multiple sets of requirements has given us the flexibility to manage our network of haulers more efficiently while ensuring they meet the specific requirements of our customers,” comments Mark Dylla, VP, Digital Transformation, Rubicon. “Evident provides us with better visibility into the current state of our network while improving our overall compliance. We’ve also been very impressed with their world-class customer service and ever-expanding product capabilities to support our business needs.”