In the highly competitive world of insurance, brokers constantly seek innovative ways to generate revenue, differentiate their services, and provide deeper value to clients. One often-overlooked area brimming with opportunity lies in certificates of insurance (COIs). Certificate Hero, a data-driven COI management platform, is helping brokers uncover hidden revenue streams by identifying coverage mismatches and streamlining the management of inbound certificates. Here's how.
When issuing COIs, coverage mismatches are common and often overlooked. These discrepancies between what's requested and what's actually in place can expose clients to risk and brokers to E&O exposure. Certificate Hero automates the process of comparing certificate requests against the insured’s actual policy data, flagging mismatches instantly.
This visibility allows brokers to proactively engage clients with tailored recommendations. Whether it’s upselling additional limits, adding endorsements, or correcting inaccuracies, brokers can turn what used to be administrative friction into consultative sales opportunities. Clients appreciate the diligence, and brokers gain a clear path to new premium dollars.
While most brokers focus on outbound Certificates of Insurance (COIs), inbound certificates collected by the agency's insureds from their subcontractors and vendors represent a powerful opportunity to deliver added value. Managing these manually can be tedious and error-prone, but Certificate Hero’s insured portal streamlines inbound COI collection and tracking. It not only boosts compliance but also strengthens client relationships through a more consultative, value-driven approach.
By providing a tool for your insureds to manage inbound certificates, brokers position themselves as strategic risk advisors. More importantly, this service can be monetized. Brokers can mine certificate data for lead generation, build new fee-based revenue models, or embed it within broader risk management programs, unlocking scalable, recurring revenue streams.
While Certificate Hero is widely known for dramatically reducing COI issuance time and E&O risk, its real impact for brokers lies in revenue generation. By surfacing actionable data around coverage gaps and inbound certificate compliance, it empowers brokers to move from reactive service to proactive revenue-driving strategies.
In an industry where margins are tight and differentiation is tough, Certificate Hero gives brokers a competitive edge, not just in productivity, but in profitability.
Schedule a demo to learn more.