San Francisco start - up Bunker has launched a programme that provides up - to - date certificates of insurance ( COI ) to collate claims and combat fraud . Nearly 40 % of independent contractors are not compliant , with their insurance coverage , at any given time , according to Bunker ’s research . This leaves businesses and contractors vulnerable to damages , despite having valid COIs on file . The insurtech ’s website will instantly reflect changes to active insurance policies , and notify COI members when their policies change , are cancelled or expire . It will also allow members to create and maintain their own insurance requirements and share them with contractors .
San Francisco start-up Bunker has launched a programme that provides up-to-date certificates of insurance (COI) to collate data and combat fraud. Nearly 40% of independent contractors are not compliant, regarding their insurance coverage, at any given time, according to Bunker’s research. This leaves businesses and contractors exposed to damages, despite having valid COIs on file. The insurtech’s programme will instantly reflect changes to active insurance policies, and notify COI holders when their policies change, are cancelled or expire. It will also allow members to create and track their own insurance requirements and share them with contractors.