University Park, Ill. (PRWEB) February 13, 2013
Applied Systems announced today that The Boston Consortium for Higher Education has selected Applied Systems certTrax, the premier web-based system for automated tracking of third-party certificates of insurance.
Consortium members chose certTrax in a competitive selection process based on its user-friendly interface and the flexibility of the software to fit the risk management demands of its higher education institutions. Previously, The Boston Consortium’s members had their own manual tracking processes, which were not as efficient as certTrax, a single, web-based software system.
“As part of the core services we provide for the consortium, we look to technology to enhance our risk management profile,” said Edward Frackiewicz, director of the Boston Consortium Risk Management Group. “With certTrax, we plan to efficiently integrate and validate the recording of insurance information from the various vendors we have on our campuses. This will allow our member institutions to measure vendor compliance against requested contract insurance requirements and trigger appropriate communications when they are found to be substandard.”
Technology that delivers self-service capabilities for the insured continues to transform the business of insurance. certTrax is a customizable, web-based system designed to track third-party insurance certificates. It automatically calculates compliance and provides the analysis and reporting to notify subcontractors, vendors and suppliers of policy expiration dates, insurance limits, changes in carrier ratings and more information across thousands of certificates of insurance.
“certTrax is a vital technology for insurance compliance and risk management organizations,” said Bob Zaczynski, senior vice president of implementation and support, Applied Systems. “certTrax monitors a variety of insurance issues easily and efficiently, including policy renewal date, carrier rating, and policy limits. This enables risk managers to better understand their exposure and make informed decisions about their risk prevention plan.”
The consortium was founded by chief financial officers of 15 Boston-area colleges and universities. It comprises Babson College, Bentley University, Berklee College of Music, Boston College, Boston University, Brandeis University, Emerson College, Harvard University, Massachusetts Institute of Technology, Northeastern University, Olin College, Suffolk University, Tufts University, Wellesley College and Wheaton College.
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About Applied Systems
Applied Systems is a leading provider of software that powers the business of insurance. The company is recognized as a pioneer in agency management systems and data exchange between agencies, brokers, carriers and their clients. By automating the insurance lifecycle, Applied Systems software enables millions of people around the world to safeguard and protect what matters most. To learn more, please visit appliedsystems.com.