Insurance Document Autonomy

Exchanging certificates of insurance (COI) and additional insured endorsement (AIE) documents is a standard operating procedure in real estate.

It’s one of the most time-consuming tasks involving four independent stakeholders that contribute to determine and process requirements manually. And, one of the easiest workflows to automate when shared interests share similar industry strategies and objectives.

These protections are tied to specific build and service related projects on a property. They’re required when executing a contract for services and expire upon completion or other predetermined date and may renew annually on extended SLA’s.

The manual process usually goes smoothly using minimum resources averaging 3 to 5 man-hours in total. However, it can require 16 man-hours across three stakeholders to process documents.

In both cases, the digitization of property data and its operation introduces autonomy reducing insurance deliverables to minutes at pennies on the dollar.

“consistent timely data exchange
between independent service providers”

The CaPSCi architecture was designed for this type of on-demand interaction between independent interests. Technology autonomously creates a pseudo network around the property, its projects, management teams and service providers.

As illustrated, ‘service providers’ in this case includes an anonymous user(s) in the contractors’ insurance company agent.

The ‹project› diamond may be anything between AEC designs and build to operational services or SLA contracts for landscaping, parking lots and HVAC, etc.

While independent of the vendor-management relationship, AI data and technology allow an anonymous insurance platform to receive, process and deliver document request without disrupting user workflows.

Deliverables are provided directly to management and simultaneously to the property. Stakeholders and details are assembled dynamically via respective user technologies at each step of the project.

SLACi digital IAM solutions for real estate industries allow user technologies to process requests without human intervention. Stakeholder detail, AI instructions and user apps operate in the background to authenticate exchange of information between the diverse technologies of users and data resources distributed throughout industry.

“Transitioning build data into enterprise grade AI data provide benefits and advantages throughout the value-add service chain”

How Data-Tech Works

The workflow of project managers generally define who operates within a CaPSCi network but the interoperability of data may transcend several layers of user technology in preparing deliverables. SLACi establishes an agnostic security framework around project stakeholders to authenticate and process digital requests through their unique user apps.

Real estate professionals and service providers follow predictable paths between concept and bid and execution of operational requirements. Each stage builds on a network of service providers involved in a specific task or project.

In most cases, a signed contract between management and a contractor is associated with an exchange of insurance documents.

Platforms & Technologies

Upon digital notification, manager platforms will query the contractors AI data tech for the required documents. The necessary details, interests and stakeholders will assembled and attached to the digital request. In turn the contractors’ technology will talk to its insurance agent. The agents’ platform will use data passed down through the value chain to authenticate the request and produce deliverable(s).

Each CaPSCi network emerges in the background through the individual identities of users and workflows. It’s a temporary infrastructure to validate authentication to access and exchange of data between users, technology and industry sources.

Future of Documentation

Digitally, COIs can be executed in a few bytes as a verification process replacing a mountain of print to paper computer files. References to additional insures will require a few more bytes. Interoperability between industry segments will continue to simplify analog processes between fragmented interests.

Incremental Implementation

Implementing tangible autonomy in real estate will occur in small steps proportionate to the availability of data and off-the-shelf solutions. Data is the precursor and least expensive technology to assemble. Its the next step in the digitization of property and facilitates development of AI technologies that integrate industry workflows.

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