Nationwide and TrustLayer Revolutionize Commercial Insurance Verification
Columbus, OH, and San Francisco, CA – Nationwide and TrustLayer have partnered to introduce an industry-first digital verification system for commercial insurance, enabling policyholders and broker partners to validate insurance coverage on demand. This innovation eliminates the need for outdated paper-based certificates of insurance, reducing the risk of fraud and enhancing claims and underwriting processes.
The partnership allows businesses and broker partners who are TrustLayer customers to verify that Nationwide policyholders meet their contractual insurance requirements digitally. According to Rob Chenoweth, Vice President of National Technical Underwriting and Automation for Nationwide Small Commercial, “Today, industry standard for verifying proper insurance coverage relies on static, paper-based certificates of insurance… This can be problematic if a policy is canceled or coverage is reduced, because relevant stakeholders have no way of knowing this on-demand and could be held liable if an accident occurs.”
The collaboration between Nationwide and TrustLayer is built on their shared commitment to innovation. TrustLayer has developed a modern technology solution that enables policyholders to validate the insurance of their third-party vendors across various industries. Nationwide has been at the forefront of providing tech-enabled experiences for its customers and partners, having developed the industry’s first commercial lines insurance verification API in 2023.
John Fohr, Co-Founder and CEO of TrustLayer, emphasized the significance of this development, stating, “To be truly certain that your partners have the right insurance, you have to go beyond a certificate of insurance… Before TrustLayer, companies only validated proof of certificate – not proof of insurance.” The new on-demand insurance verification capability is available at trustlayer.io/pages/nationwide.
About the Partners
TrustLayer
TrustLayer is an AI-powered collaborative risk management platform that digitizes the manual process of insurance verification. It allows companies to securely automate the verification of insurance, licenses, and compliance documents of their business partners through a digital dashboard. Backed by leading investors, TrustLayer is working with major brokers and carriers to build a fully digital proof of insurance solution.
Nationwide
Nationwide is a Fortune 100 company and one of the largest diversified financial services and insurance organizations in the United States. Rated A+ by Standard & Poor’s, Nationwide is a leader in customer-focused innovation, offering a wide range of insurance and financial services products. For more information, visit www.nationwide.com.
