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This method will parse an uploaded contract, scan for the insurance clause and extract the required policies.
See below for a full video walkthrough:
This guide will review selecting the most common ACORD form, the ACORD 25.
Read through the flow below, or jump forward to one of the following sections:
Compliant Line of Business (LOB)
Non-Compliant Line of Business (LOB)
How Does Certificate Hero Know the Insured's Policy Limits and Coverages?
What Automatically Populates on the ACORD Form
Updating the Certificate Fields
To begin, drop down the “Certificates” menu and click “Manager”.
Within the Certificate Manager, click the orange “Create Certificate” button.
Select “Contract” and select the contract you want to upload from your device.
Click “Create Certificate” to proceed.
Certificate Editor
This will bring you to the Certificate Editor, which is split in two sections – the COI resources on the left and the ACORD form itself on the right.
Once within the Certificate Editor, on the right you will need to select the ACORD Form type you would like to build the certificate out on.
The Certificate Editor is a user-friendly interface, and each tab and grey selector has its own importance, allowing you to easily customize any part of the certificate.
Within the certificate preview to the right, you will see in real time any additions and edits you make to a certificate. Anything with a GREY selector is an area within the certificate you can interact with.
You can customize or modify your certificate of insurance by choosing any of the following grey selectors:
- Agency contact name, number, and email
- Named Insured
- Certificate policies
- Description of Operations
- Certificate Holder
- Signature
Contracts Tab
When a contract is uploaded, a copy of the contract will be available for reference within the Contract tab.
From here, you can scroll through and review the contract you just uploaded, as well as confirm you have uploaded the correct one for the request you are working on.
Insurance Tab
When a contract is uploaded, the details of the Insurance requirements will be displayed within the Insurance tab.
The contract in its entirety is run through the Certificate Hero software. Through this, the insurance section of that contract is isolated and highlighted, as shown below.
Instead of seeing the entire contract document, you will see just the highlighted page or pages that contains the required insurance information.
Requirements Tab
Certificate Hero will then break down the highlighted insurance sections of the contract by line of business. And then within each line of business, breaks it down further by each coverage that’s being required. You will find the breakdown of required LOBs and coverages within the Requirements tab.
This will also display any compliant and/or non-compliant policies.
You can expand each LOB to review the coverage requirements extracted from the uploaded contract.
Requirements – Compliant Line of Business (LOB)
A compliant LOB, the LOB will not have a highlighted red boarder. Without a red boarder, it means the policy and coverages meet the insurance requirements found in the contract. To verify compliance, expand the LOB, and compare the "Contract" column (insurance requirement from the contract) and "Coverage" column (the coverage the Insured actually carries according to AMS integration) to determine where the insured is compliant.
If the coverages match, the "Compliant" column should be marked as YES.
Requirements – Non-Compliant Line of Business (LOB)
A non-compliant LOB will be easily identifiable by a highlighted red boarder. To view what is not complaint, expand the LOB and a red message in the "Compliant" column should be marked NO to identify which coverage(s) within the policy is not compliant with the contract you uploaded.
You can then compare the "Contract" column and "Coverage" column to determine the areas in which the Insured's policy is not compliant.
If the Insured does not carry a required LOB, this is considered a non-compliant LOB as well. This LOB will also be identifiable by a highlighted red boarder.
When you expand to view how the LOB is not complaint, the "Coverage" column should read "No Coverage".
How Does Certificate Hero Know the Insured's Policy Limits and Coverages?
Certificate Hero is integrated with your agency's Agency Management System. Due to this integration, we can see what the Insured carries, the policy limits and coverages, and put into place important Guardrails to help ensure certificate compliance.
Because your team has already completed the hard part by entering the Insured's policy information and data in your AMS, you do not have to re-enter that information in Certificate Hero. Your agency's AMS will be the one source of truth for nearly all entries and almost all data pulled into Certificate Hero via the integration.
What Automatically Populates on the ACORD Form
Once the ACORD Form type is selected, Certificate Hero will populate every line of business that is requested within the contract on the ACORD form, if the Insured carries the LOBs and based on the default LOB profiles that exist for the Insured.
Additionally, due to the integration with the AMS, only the limits the Insured carries will populate - the system will not populate limits above what the Insured carries, nor will it populate a policy the Insured does not carry.
Can I change the data on the ACORD Form, or am I limited to what populates?
Yes, Certificate Hero allows you to modify any data within the grey selectors that populates on the certificate before completing and issuing it. This includes policies that were automatically populated during the contract upload workflow.
You are not limited to what the system populates. For example, if a contract requires a $10M Umbrella policy but the Insured has only a $5M Umbrella policy set as default, along with a $5M Excess policy, the system will initially populate the $5M Umbrella limit and flag it as non-compliant as the limit is lower than the contract requires for the policy. In this case, you can use the "Add Policy" grey selector to add the $5M Excess policy, bringing the certificate into compliance.
However, if the Insured carries only a $5M Umbrella policy, has no additional coverage, and does not wish to obtain more, the processor can still issue the certificate reflecting the $5M Umbrella policy and proceed with completing it.
Updating the Certificate Fields
To learn how to update any of the fields on the certificate during the processing flow, click the links below:
- Selecting the Policies/LOB profiles
- Entering the Certificate Holder
- Adding verbiage to the Description of Operations
- Attaching Endorsements
- Named Insured
- Agency Contact
- Signature