When an insurance policy has activity (sold, changed, renewed, etc.) or an insured enters into a relationship (buys car/home, contracts to perform work/service, etc,) insurance information needs to be shared with a variety of third parties.
Think about the impact;
• $3.1 trillion of commercial and multifamily mortgages
• 2,8 million new home mortgages valued at more than $637 billion
• 5.6 million commercial buildings with 87.4 billion square feet
• 1.2 million companies with 28.8 million commercial trucks and 3 million drivers
• 42.6 million independent contractors
• 17.6 million vehicles purchased annually with longer terms and 32% leased
• And there are many other examples
Every time a policy or business relationships changes, evidence of insurance and compliance verification is required. Today’s convoluted and wildly expensive certificate of insurance is a vortex of agent/broker manual effort, paper, email, faxes and procedures where data is both late and locked in certificate forms (paper or PDF.) This is where GAPro comes in.
GAPro is an InsurTech start-up that delivers data driven proof of insurance/compliance verification solution significantly reduces both costs and errors associated with legacy form based solutions. GAPro’s ecosystem provides all insurance stakeholders (carriers, agent/brokers, insured and third-parties) with secure self-service access to their insurance information, providing real-time and ongoing insurance confirmation and compliance verification. Additionally, GAPro can provide new customers and sources of revenue for carriers and agent/brokers alike.
