Jardine Lloyd Thompson Canada (JLT Canada) has announced a new tech innovation partnership to assist with tenant insurance verification for its commercial, industrial, and residential real estate policyholders.
The communication platform, from Certisync, will increase the ease of access, visibility and transparency for vendor and tenant insurance documentation through digitization.
The program aims to “revolutionize the way the industry regulates tenant insurance processes,” the company said.
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“It can be quite tedious to have to manually verify the legitimacy of insurance documents, which is why we are excited about this partnership – it’s a great solution for property management due diligence,” said Suzanne Liberman, managing director of life sciences, healthcare, and real estate at JLT Canada. “[This system] helps property managers ensure their tenants are compliant and aware of their insurance requirements.”
Many property managers lack the experience and knowledge to adequately verify that a tenant’s insurance policy matches the requirements of the lease – which can leave the leaser highly vulnerable to insurance liabilities. The CertiSync system manages the insurance documentation verification process, and makes everything electronic and transparent.
Liberman said JLT was constantly working to innovate and increase efficiency, internally and for clients and customers.
“One of JLT’s core strategic pillars is to improve the way we work and serve clients through innovation and by investing in the efficiency and effectiveness of our people, systems and processes. In support of this, it is extremely important for JLT Canada to invest in technology, whether client facing, for client end-use, or operationally within the business,” she said.
“The JLT/Certisync product does just that – it enhances the user experience for clients in this space by simplifying the compliance process and reducing the time to track tenant and vendor insurance and licensing for real estate companies.”
Tenants upload their latest certificates of insurance, and Certisync reviews the submissions to ensure they meet the requirements stipulated in the lease.
JLT Canada VP and manager of marketing and communications Chris Lapworth added: “Our clients’ needs drive innovation in all areas of tech, operations and growth in spaces such as digital – it is our commitment and promise to them that we listen and adapt our approach where necessary to bring better solutions, that also remain competitive in terms of cost, range and servicing.”
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