Heffernan Insurance Brokers Expands Partnership with TrustLayer to Automate Insurance Verification for Customers
WALNUT CREEK, Calif., July 11, 2023 /PRNewswire/ -- Heffernan Insurance Brokers, one of the largest full-service, independent insurance brokerage firms in the United States announced a partnership with TrustLayer, to allow customers to access TrustLayer's artificial intelligence (AI)-powered collaborative risk management platform.
TrustLayer will enable faster and more efficient proof of insurance verification and help Heffernan customers better manage their risk by using its innovative digital solution. Virtually every business struggles with insurance verification. For those who do it well, the administrative burden is high — with manual processes and millions of static documents changing hands across the U.S. Unfortunately, for those who don't manage these processes well, the risk is astronomical, with studies showing that 75 percent of vendors are underinsured. TrustLayer uses robotic process automation (RPA) and Artificial Intelligence to automate this process securely, so companies can automatically verify the insurance and licenses of their vendors, suppliers, borrowers, and tenants. Further TrustLayer is building connectivity to systems of record to allow for truly validating whether coverage is in force.
"Our focus at TrustLayer is to help relieve risk management pain points and reduce friction for businesses across the entire economy. This partnership with Heffernan Insurance Brokers will help reduce risk and create a more efficient verification process for them and their customers," said John Fohr, co-founder and CEO of TrustLayer. "Modern risk managers are pushing the industry forward with their innovative spirit. These are the forward-leaning professionals that we're building TrustLayer for. The Heffernan team certainly embodies that belief and I look forward to working with them as we drive innovation across the insurance industry and improve the risk transaction experience for all involved."
"We are very excited to be joining forces with TrustLayer" shares Zachary Medellin, Heffernan's AVP of Compliance Management. "Together, we are ushering in a new era of risk mitigation and insurance compliance management for our clients. This innovative collaboration, of TrustLayer's award winning SaaS and Heffernan's insurance expertise, will allow us to effectively and efficiently track the insurance compliance of our client's business partners to ensure all necessary standards are met. Our goal is to empower our clients with the freedom to invest their assets and time into what they do best while allowing us to safeguard their operations. We look forward to further supporting our clients with another strong risk transfer tool."
About Heffernan Insurance Brokers
Heffernan Insurance Brokers, formed in 1988, is one of the largest independent insurance brokerage firms in the United States. Heffernan provides insurance and financial services products to a range of businesses and individuals. Headquartered in Walnut Creek, Calif., Heffernan has offices in San Francisco, Petaluma, Menlo Park, Truckee, Bakersfield, Woodland Hills, Los Angeles and Irvine, CA; Phoenix, AZ; Portland, OR; Seattle and Olympia, WA; St. Louis, MO; and London UK.
Employee-owned, Heffernan Insurance Brokers was named the Top Mid-Sized Broker in the United States to work for in 2009 by Business Insurance Magazine. The firm has been among the Top Greater Bay Area Philanthropists since 2003.
For more information, visit www.heffins.com. License #0564249
About TrustLayer
TrustLayer is an AI-powered collaborative risk management platform working to digitize the highly manual, error-prone, and paper-based process of insurance verification. With TrustLayer, companies can securely automate the verification of insurance, licenses, and compliance documents of their business partners (i.e., vendors, subcontractors, suppliers, borrowers, tenants, ridesharing, and franchisees) in an easy-to-use digital dashboard. TrustLayer is working with dozens of the largest brokers and carriers in the U.S. to build out a fully digital proof of insurance solution so companies will be able to validate in real-time that their business partners have the correct coverage. The company is backed by leading investors, including Craft Ventures, Abstract Ventures, Box Group, Propel Ventures, Sure Ventures and PruVen Capital, and has also received investments from more than 20 of the top 100 insurance brokers. To learn more, visit trustlayer.io, or follow us on Facebook, Twitter, and LinkedIn.
SOURCE Heffernan Insurance Brokers