Your New View Coverage Panel
Bunker was the first in the industry to digitize your insureds’ Certificates of Insurance, and display real-time coverage in the Live COI. This year, we’ve turned the Live COI into an interactive panel that not only shows discrepancies between an insured’s coverage and their requirements, but allows you to waive missing elements right from your account!
These are the key changes you’ll see in your new View Coverage panel. Check out How To Waive a Required Element for a detailed tutorial on using your new waiver functionality!
The New Live COI
The most important update to your View Coverage panel is that it now ties an insured’s certificate to their requirement. This change allowed us to:
- Simplify the information displayed
- Clearly show if / why an insured does not meet their requirement
- Waive missing elements
SIMPLIFIED COI DISPLAY
With the help of member feedback, we’ve discovered that not everyone loves exploring the nitty gritty details of insurance like we do. We’ve removed policy elements that don’t effect compliance (like policy number and irrelevant sublimits) to present you with a clean list of the details you care most about.
COMPLIANT & NONCOMPLIANT ELEMENTS
The new panel allows you to see exactly which elements of an insured’s certificate do not match their requirement. Noncompliant limits are listed in red, with the required limit beneath them. That way, you can see exactly how far they deviate from the requirement without having it memorized!
There is never a one size fits all requirement when it comes to insurance. Waivers have always been a part of Bunker’s service offering, but we’re making the communication process more streamlined than ever! Now, rather than emailing back and forth with the insured and the Bunker team to approve or deny waivers, you can do so from your account.
Waiving the missing elements will mark the insured ‘Compliant’ and let our advisors know that they don’t need to request an updated COI. They will also be tracked and time stamped, so that you can see exactly which team member waived the coverage (Coming Soon)!
Rejecting a waiver will let our advisors know that they should continue working with the insured (and/or their agent or broker) to obtain a certificate that meets this element of the requirement.
*Waivers are a paid feature – reach out to your account manager if you’d like to upgrade your account to access waivers!
This summer, you’ll be able to quickly manage waivers in your Notifications Tab! Stay tuned for product updates and tutorials to learn more.