Jones Software

Most construction and property management teams collect and verify certificates of insurance (COI) and endorsements. But is this process enough to protect your company from insurance risk and potentially devastating claim payouts? In the video clip below, Jessica Lopes , Director of Risk and Compliance at Jones, and Jason Schiciano, CPIA, explain why even a perfectly compliant COI does not provide sufficient protection. 💡 How does a company adjust its third-party risk management process? On November 14th, Jessica Lopes will be hosting a webinar "COIs: vs Policies: Why Verifying Policies for Exclusionary Language Matters." She will go over some real-life examples where a COI appears compliant, but the underlying policy contains critical exclusions. She will also share the new exclusionary language the Jones team has encountered while reviewing policies for clients and that you should watch out for. This webinar will be helpful for anybody who reviews third-party insurance documents for compliance (link's in the 1st comment).

How does a real estate firm reduce third-party liability exposure? We posed this question to one of our most successful customers - Northwood Office. Here are three tactics that worked: ➡️ Access to accurate and fast COI verification 💡 Consistent 24-hour turnaround times on COI reviews enabled NorthWood Office to efficiently manage properties while protecting from risk exposure with vendors and tenants. ➡️ Clear and actionable insurance insights 💡 Flagging compliance gaps was simply not enough to demystify insurance risk. Actionable solutions including detailed descriptions of gaps in compliance along with suggested steps to improve insurance risk transfer. ➡️ Control over risk decisioning 💡 According to Jill, an ability to override insurance coverage gaps/issues with a click of a button allowed her to execute faster and exercise control over her risk transfer decisions.

Can I accept deficiencies in General Liability coverage on a COI?   General Liability is (almost) always required by our customers, and they rarely disregard it. However, some companies may be flexible in the amount required.   Before you waive GL: Check if the insurance requirement can be changed: ➡️ Make sure the dollar amount is appropriate and not too high. ➡️ Consider expanding requirements into tiers, e.g. high-risk, low-risk, and standard.   If making changes to the requirement is not an option, create an exception rule based on the scope of work.  💡 Example: if the requirement for GL limit is $5M, but the vendor's scope of work poses lower risk, accept $3M limit GL limit on this vendor's COI. If you manage third-party certificates of insurance (COIs) and sometimes wonder if you can waive GL, Auto Liability, or 30 Days' Notice of Cancellation, don't miss the "How to build an insurance exceptions sheet" webinar hosted by Jones and the Institute of Real Estate Management (IREM) on November 13th! Link to RSVP is in the first comment. https://lnkd.in/eiH_jTwA

If you manage certificates of insurance (COIs), you know that getting the overall compliance beyond 50-60 percent can be a major struggle. Yet, some companies succeed. Case in point—our customer KIER Construction, who managed to increase their subcontractor insurance compliance to around 90 percent in just a few months. Last month, Sandy Rex, a lead project administrator at Kier, shared her company’s step-by-step process for managing subcontractor COIs in a webinar that we hosted for customers and friends. Read on for the most insightful points that resonated with the attendees ⬇️ ⬇️ ⬇️

Thinking about using blanket insurance requirements to reduce the time you spend collecting and reviewing COIs, but not sure what makes a project a good fit for these requirements instead of project-specific? You're in luck—JRM Construction Management and Key Construction are going to share their playbooks for when to use which with you. Join Sajjad Mamun, CRIS, Construction Risk Manager at JRM Construction Management and Janet Capps, Operations Administrator at Key Construction on July 10th at 1pm EDT for a webinar where they'll discuss: ✅ Pros and cons of using blanket vs. project insurance requirements 🛠 Creating a Procore setup that allows you to use both of these requirements side by side 📒 Building a playbook for identifying subcontractors that are a good fit for blanket-level insurance requirements 👷♀️ Tracking subcontractor insurance details in Procore with project & blanket-level insurance requirements Link to sign up in the comments below!

Thinking about using blanket insurance requirements to reduce the time you spend collecting and reviewing COIs, but not sure what makes a project a good fit for these requirements instead of project-specific? You're in luck—JRM Construction Management and Key Construction are going to share their playbooks for when to use which with you. Join Sajjad Mamun, CRIS, Construction Risk Manager at JRM Construction Management and Janet Capps, Operations Administrator at Key Construction on July 10th at 1pm EDT for a webinar where they'll discuss: ✅ Pros and cons of using blanket vs. project insurance requirements 🛠 Creating a Procore setup that allows you to use both of these requirements side by side 📒 Building a playbook for identifying subcontractors that are a good fit for blanket-level insurance requirements 👷♀️ Tracking subcontractor insurance details in Procore with project & blanket-level insurance requirements Link to sign up in the comments below!

Really cool testimonial from Sarah M. at Bogard Construction, Inc. on how the recently implemented integration of Jones Software and Sage 300 from Sage enables Bogard to automate the Accounts Payables function for subcontractors based on the compliance status within Jones. I've mentioned this before, but enabling these integrations is key to success in a world where all systems and workflows need to be connected. We have enabled similar integrations via our partners: Yardi, MRI Software, Procore Technologies (via the new Procore Pay feature), CMiC, Vista, and others. More exciting announcements in this area in the coming months!

Make sure you catch Steve Botz at #Realcomm on June 20th and 21st in Tampa!

🚨ATTENTION TEAMS USING PROCORE🚨 Procore Side Panel Apps are here, and now it’s time to get training on how to use them! Join us on June 4th for our webinar: “Everything You Need to Know About How Procore's New Side Panel Apps Are Helping Construction Teams Manage Project and Subcontractor Risk.” Procore’s new Side Panels Apps are changing the way teams manage contracts and insurance risk. Does your team know how to use these new tools, where they can find them in Procore, and what risk information is now available to them? Tune in to: 🎓 Train your team on how to use Procore Side Panel Apps ⌛ Learn how risk and legal departments can use these tools to spend less time answering basic insurance and contract questions and focus on supporting with more strategic tasks ✅ See all the new information and resources you'll have on the side of your screen to help understand and resolve subcontractor and project risk 💻 Learn about the future of Procore's integration ecosystem and how you can adopt these new types of apps into your day-to-day work Panel: - Jeremy Chasen, Sr BD Manager, Strategic Partnerships at Procore Technologies -Will Meurer, VP of Product at Document Crunch -Scott Wisotsky, Product Marketing Manager at Jones Software Link to register in the comments below ⬇️⬇️⬇️

What a West Coast tour for our very own Jack Armstrong!