VeriSourceTM helps companies mitigate third-party risk by enabling them to easily and efficiently manage insurance prequalification for contractors of all sizes, verify which contractors meet coverage requirements, and keep on top of contractors’ policy expirations.

Get an at-a-glance view of contractors’ compliance with your insurance requirements

  • Centrally track and maintain insurance coverage information for all of your contractors using a single, web-based application that offers the flexibility to meet the needs of any industry
  • Quickly see each contractor’s status to verify which contractors meet your company’s coverage requirements
  • Leverage contractor dashboards to easily access all your contractors’ insurance coverage details and certificates of insurance (COIs)

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Streamline contractor insurance prequalification and management processes

  • Use KPI (Key Performance Indicator) charts to easily monitor your program
  • Efficiently keep on top of policy expirations with reporting for you and automated email reminders for your contractors
  • Confirm the validity of your contractors’ coverage: as a value-added service included with our software, Veriforce® auditors review all submitted insurance data against a contractor’s COI(s)

Accelerate contractor time-to-work

  • Eliminate guesswork: in the contractor’s view of VeriSource, COI Tracking Actions show contractors exactly what must be completed to get compliant with your insurance requirements, getting them to work more quickly
  • Speed the onboarding process: VeriSource uses Action Badges and a simple, ACORD standard-based template to make document upload requirements clear, and data input highly efficient for contractors
  • Minimize data entry: any insurance coverage details input to VeriSource for another hiring client are auto-populated when new hiring clients are added, providing an efficient starting point for the contractor

Manage contractors of all sizes - large and small - in one place, saving time and money

  • Avoid the hassle of tracking COIs for small, low-risk contractors separately: unlike some solutions, a VeriSource subscription is affordable for even your smallest contractors, so there’s no need to manage them outside of the application
  • Help ensure participation by smaller, local contractors, enabling you to get the best value for your company, rather than potentially limiting your contractor pool to non-local, higher-priced options

Tailor your insurance prequalification solution to support your company’s specific procurement policies

  • Leverage the software’s flexible, client-side configuration capabilities to group your contractors based on their size, work types, or other criteria or risk factors and customize each group’s insurance requirements
  • Automatically enforce contractor compliance with insurance requirements that align with your company’s policies, including any unique contractor-specific requirements

Gain a comprehensive view of contractor compliance beyond your insurance requirements

  • Simplify contractor management with integrated VeriSource applications to manage safety prequalification, as well as contractor compliance with PHMSA OQ Rule and DOT/PHMSA drug and alcohol requirements
  • Get a one-stop view of each contractor’s compliance and commitment to safety so you can easily identify contractors who are ready to go to work, make more informed contractor selection decisions, and, ultimately, lower your risk