Property Management Services
Improperly insured vendors pose a constant financial threat and increase the risk of exposure. For companies who must rely on services from vendors, suppliers and/or contractors, internally trying to manage insurance certificates effectively can be a time-consuming task prone to human error. Today, many Corporate Executives and Risk Managers turn to RMIS® to significantly reduce their organization’s liability and administrative costs, at no out of pocket expense.
RMIS can automate your entire vendor registration process, including all insurance, vendor agreements and other legal documents. By combining state-of-the art technology with 21 years of insurance monitoring experience, our programs not only streamline the vendor management process for our clients, but also serve to lower their administrative costs significantly.
Vendor Insurance Monitoring
Request Updated COIs: Following vendor registration, RMIS will work directly with the insurance producer(s) to obtain an updated certificate requesting that RMIS be listed as the Certificate Holder (c/o Client Name) so that all future certificates will be sent to the RMIS office instead of to your company.
Audit of COIs: We rigorously audit new Certificates of Insurance as we receive them to verify that coverage, limits, additionally insured’s and any other endorsements are accurate. If the information meets client requirements, the certificate is captured into our in-house, image database for easy, permission-driven client accessibility.
Correction Process: If the certificate does not meet client requirements, we notify the vendor and contact the insurance producer to make the appropriate revision.
Daily Updates: We update all information received daily as insurance providers notify us of policy changes, such as cancellations, reinstatements, policy numbers and coverage.
Certificate Expirations: Prior to expiration date of each coverage, we proactively contact the vendor’s insurance producer and request an updated certificate for the new policy period. We will follow up with multiple requests, including faxes, e-mails and phone calls until an updated and accurate Certificate of Insurance is received.
Monitored Insurance Coverages
Monitored Certificate Information
Additional endorsements can be monitored at our client’s request.
RMIS provides background screening on vendor Principals, as well as credit and OFAC information on the vendor company. Background sources include:
• OFAC (Office of Foreign Assets Control): The OFAC SDN (Specially Designated Nationals) list includes known terrorists, terrorist supporters, international narcotics traffickers and those engaged in activities related to the proliferation of weapons of mass destruction. All employers and businesses in the United States are legally required to comply with the OFAC requirements by screening their employees and business partners against the SDN list.
• National Criminal and Sex Offender Search: One of the most comprehensive criminal databases available today, it includes over 300 million local, county and state criminal records, plus sex offender registry records and national security data sources (such as OFAC, FBI most wanted, etc).
• Credit History / Rating: (Dun & Bradstreet) and Experian available
• Bankruptcy, Liens and Judgments Search: (May determine signs of financial distress or serious issues which may cause concern regarding their ability to follow up or complete a job)
• Professional / Business License Verification: Licensing agency or board is contacted to verify the license or certification held by the individual or business, including type of license, license status, expiration date and any negative information on file with the agency.
• Tax ID Number Verification: Identifies the state and year of issue for the Tax ID provided and includes a search of the Social Security Administration’s Death Master Index to determine if the SSN is associated with that of a person who is being reported as deceased.
*Additional background screening data available at client's request.Customer Service
RMIS has onsite, multi-lingual professional staff to assist vendors and property managers with registrations and ongoing maintenance via phone, e-mail or online chat.
New Client Implementation and Vendor Registration
Our process starts with an analysis of your current vendor enrollment procedures and requirements. This includes the client’s vendor list, as well as the insurance and legal requirements their vendors must meet. Next, we incorporate this information into a custom, easily navigated web-based registration process for your vendors. This website is custom created for you with your business logo, look and feel. This is a seamless process for your vendors and enables them to register quickly and conveniently. They can also agree online to terms and conditions of employment, per your company’s specifications.
Another unique strength of RMIS is our flexibility in providing vendor information to our clients.
Our methods include:
• Secure Web Interface: A powerful website provided by RMIS that is custom built for each of our clients with their special preferences. Clients can check the status of an individual vendor or view all of their registered vendor insurance information at once, plus print and download current Certificates of Insurance, W-9 forms, and other legal documents.
• Data Transfer: RMIS can ‘push’ or ‘pull’ data via secure FTP (file transfer protocol) to allow RMIS servers to communicate with your systems automatically.
• API "Real-time" Link: RMIS can interface with your in-house management software, providing you up-to-the-minute updates on your vendors’ insurance coverage and background screening results. Our IT personnel will assist your company with any software adjustments to establish the “real-time” link, as well as provide ongoing support.
• Web Services: RMIS also provides access to data and transactions via WebServices, a protocol that allows different computer systems to communicate over the internet and allow integration between RMIS systems and yours.
• Fax or E-mail Notification: We can fax or e-mail full insurance information and background screening results, and list each vendor as "Approved" or "Non-Approved." You will also receive instant notification of a change to any vendor’s COI insurance information. [e.g., a cancellation or reinstatement]
• Flexible Data Formats: We can output data in many formats, including: Excel, PDF, text file, XML, etc. Customizable vendor status reports can be run on demand by the user via the website or scheduled to be automatically sent to the client on regular intervals.
How We Charge
Clients may elect to pay for our services themselves or have RMIS collect from their vendors. Under our vendor pay model, at the time of registration your vendors are charged a registration fee, which they will be required to renew every 12 months. The fee covers the cost of vendor credentialing, collection of updated insurance certificates and documents, as necessary, including storage, archival and ongoing maintenance of those documents, year-round.