Enhancing Supply Chain Security: Insurance Verification Solutions for Manufacturers
End-to-end vendor insurance verification and fulfillment solution to minimize administrative costs and your exposure.
Understanding Third-Party Insurance Risk for Manufacturers
Evident knows that there’s no “one size fits all” when it comes to how manufacturing operations deal with insurance for their vendors and contractors. The sheer quantity and diversity of suppliers requires both flexibility and responsiveness.
Manufacturers turn to Evident to provide visibility into the total insurance risk of the supply chain, greatly reducing exposure to negative events like product recalls.
Learn more about how insurance verification is helping manufacturers of all sizes reduce risk, administrative burden, and cost.
How We're Different
Deep Visibility
Evident doesn't just store your third-party COIs, we digitize all COI and policy details so we can provide complete analysis of your supply chain's exposure.
Automation
Evident automates the entire process - collection, verification, analysis, decisioning, storage, and monitoring of third-party COIs and policies to ensure compliance with corporate standards.
Getting to "Yes"
Our workflows can handle the exceptions and even offer fulfillment to ensure that more of your supply chain partners have active and up-to-date coverage, while greatly reducing your administrative effort.
Optimize Risk/Spend
Evident integrates guidance from insurance industry partners into actionable reports that eliminate redundant coverage and optimize premiums to reduce overall cost for you and your network partners.
Case Study
Evident is working with one of the largest manufacturers of packaged bakery foods in the U.S., one that operates 40+ bakeries producing many household brand names. With access to live COI monitoring through Evident’s platform, the manufacturer has seen a noticeable uptick in their distributor compliance rates and overall savings.
How It Works
Build out your policy requirements (coverage types, amounts, exceptions)
Load your vendors, suppliers, and other third-party partners' information
Digitize COI data elements
Review granular, accurate, searchable, real-time COI data view
Deploy rules-based compliance evaluation with our decision engine
Provide coverage options to help fulfill company requirements when needed
Monitor compliance status and report on changes
Evident ROI Calculator
This free calculator simulates the potential return on investment that your company could realize by using our technology-based insurance verification solution to vet and retain your vendors and other third-party partners. Simply answer a few questions and fill out a form to see how much money your company could be saving with Evident!