The State of Third-Party Insurance Verification: Industry Trends & Risks

Based on data from hundreds of thousands of verifications, Evident’s latest research report demonstrates that large enterprises have an average of $2 billion in uncovered insurance requirements due to non-compliance with requirements by their third-parties. Enterprises in certain industries (i.e. grocery, transportation, convenience stores, etc.) assume more third-party risk due to the sheer number of partnerships they maintain, while industries with smaller ecosystems (i.e. telecommunications, restaurant franchises, etc.) tend to see greater third-party insurance compliance rates due to more straightforward requirements. In this webinar, watch Evident’s Co-Founder & Chief Product Officer, Nathan Rowe, Dana Thomas, VP - Operations, and Third Party Risk Association Chief Executive Officer & Co-Founder, Julie Gaiaschi, discuss industry-specific third-party risks and trends, as well as opportunities for enterprise risk managers in each segment. Key Takeaways: - Gain clearer understanding of industry-specific third-party risk profiles and insurance verification challenges, with insight from segments like: financial institutions, government entities, and manufacturing, in addition to those listed above - Hear specific data points around third-party coverage types, common limits, and the number of insureds (verified by Evident) that meet enterprise insurance requirements - Learn more about areas for opportunity and how enterprises can automate multiple functions and integrate them throughout the third-party insurance verification process