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Pikorua Security

Compare approaches

Compare COI tracking approaches by what they actually verify.

Spreadsheets, front-page OCR tools, your broker's certificate desk and outsourced review services all collect certificates. The difference is how many pages of the packet they read, and whether the result can stop a payment.

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One subcontractor packet

6 pages

Keystone Mechanical LLC ยท GL 7741-0093-22

  1. p.1ACORD 25 (2016/03)Certificate of Liability InsuranceFront page

    Spreadsheets and front-page tools stop here

  2. p.2CG 20 10 04 13AI, ongoing operationsEndorsement
  3. p.3CG 20 37 04 13AI, completed operationsEndorsement
  4. p.4CG 20 01 04 13Primary and non-contributoryEndorsement
  5. p.5CG 24 04 05 09Waiver of subrogation, GLEndorsement
  6. p.6WC 00 03 13Waiver of subrogation, WCEndorsement

Why the approach matters

of subcontractor and vendor COIs contain material coverage deficiencies or missing endorsements on first review
71%
of subcontractor and vendor COIs contain material coverage deficiencies or missing endorsements on first review
AGC Risk Committee Audit
of COIs claiming additional insured status fail to attach the CG 20 37 completed operations endorsement
64%
of COIs claiming additional insured status fail to attach the CG 20 37 completed operations endorsement
IRMI Construction Risk Survey
to manually review one COI and multi-page endorsement packet against contract specifications
25 to 40 min
to manually review one COI and multi-page endorsement packet against contract specifications
CFMA Time Study
average cycle to collect, audit, chase and resolve one non-compliant COI by hand
28 days
average cycle to collect, audit, chase and resolve one non-compliant COI by hand
Pikorua Security Benchmark Data

Approach chooser

Which comparison should you read first?

Three questions about your vendor count, your current method and the system that pays vendors. You get the comparison that matches, a plan that fits and an estimate of the hours involved.
How many vendors send you COIs each year?
How do you track COIs today?
Which system approves vendor payments?

0 of 3 answered

Answer three questions and we'll point you to the right comparison.

Estimates use the same model as each comparison's cost calculator.

Master matrix

Five approaches, 15 capabilities, one table.

Each cell says yes, partial or no, and why. Partial usually means a person can do it if someone asks, which is different from it happening on every packet.

15 capabilities across five approaches. Scroll sideways on smaller screens.

  • Yes, built in
  • Partial or manual
  • No
Capabilities of four COI tracking approaches compared with Pikorua Security
CapabilityManual spreadsheetsFront-page OCR toolsBroker certificate deskOutsourced review servicesPikorua Security
Reads ACORD 25 and ACORD 28 fields

Partial. Someone types dates, limits and policy numbers into a row by hand, and rows go stale between renewals.

Yes. Front-page fields are extracted automatically; accuracy depends on scan quality.

Yes. The service team logs certificate fields, usually in the brokerage's own system.

Yes. A review team keys or extracts certificate fields.

Yes. Limits by line, policy numbers, dates, insurers and certificate holder, extracted in about 15 seconds.

Reads attached endorsement pages

No. Endorsement PDFs get filed with the certificate. Reading them is a separate job that rarely happens.

Partial. Endorsement PDFs are stored as attachments; reading the wording is left to a reviewer.

Partial. Depends on the service agreement; routine logging usually covers the certificate, not each endorsement.

Partial. Depends on the service level purchased; endorsement review is often scoped separately.

Yes. Deep OCR on every attached form, with the form number and edition read from the page footer.

Validates ISO edition dates

No. Edition dates sit in the form footer and never reach the spreadsheet.

No. Without reading the form footer, editions are never compared with your exhibit.

Partial. An experienced account manager will spot an old edition when asked to look at a vendor.

Partial. Depends on the reviewer and the checklist you supply.

Yes. Compares 11 85, 10 01, 07 04 and 04 13 editions with the edition your exhibit allows.

Detects missing CG 20 37 completed operations

No. The ADDL INSD column on the ACORD 25 shows a Y whether or not CG 20 37 is attached.

No. A Y in the ADDL INSD column reads the same with or without CG 20 37 attached.

Partial. Checked when you ask about a specific vendor, not across every file.

Partial. Checked when endorsements are in scope and the checklist asks for it.

Yes. Requires CG 20 37 or equivalent completed operations wording whenever the exhibit calls for it.

Flags limiting exclusions (CG 21 39, CG 22 94, CG 21 44)

No. Exclusions appear in the policy's forms schedule, which nobody requests.

No. Exclusions are not printed on the certificate, so front-page extraction cannot see them.

Partial. Possible on request; pulling forms schedules for every vendor is outside most service agreements.

Partial. Only if the forms schedule is requested and reviewed.

Yes. Flags CG 21 39, CG 24 26, CG 22 94 and CG 21 44 wherever they appear in the packet.

Verifies waivers of subrogation (CG 24 04, WC 00 03 13, CA 04 44)

Partial. The SUBR WVD column gets a checkmark in the sheet; the form and the named party go unverified.

Partial. Reads the SUBR WVD column; does not confirm the form or the party it names.

Partial. Logged from the certificate checkbox unless the endorsement is reviewed.

Partial. Checked against your checklist when endorsements are in scope.

Yes. Checks the form and the party it names on general liability, auto and workers compensation.

Confirms primary and non-contributory wording (CG 20 01)

No. Primary and non-contributory wording is on the endorsement or in the policy, not on the front page.

No. Primary and non-contributory wording is on the endorsement, not the front page.

Partial. Same as waivers: verified when someone asks.

Partial. Same as waivers: in scope only if purchased.

Yes. Verifies CG 20 01 or equivalent wording against the tier the vendor's contract requires.

AM Best rating check (A- VII or better)

No. Each insurer has to be looked up by hand, and nobody repeats it at renewal.

Partial. The rating is not on the ACORD 25, so it needs a separate lookup that varies by setup.

Yes. Brokers have direct access to carrier ratings.

Yes. Usually part of the review checklist.

Yes. Checks Financial Strength Rating and Financial Size Category on every packet.

Chases the vendor and its retail insurance agent

Partial. The PM emails the vendor, the vendor forwards to its agent, and the thread averages 28 days.

Partial. Emails the vendor about front-page gaps; endorsement gaps still run through your PM.

Partial. The desk contacts the vendor's agent; your PM still chases the vendor and decides on holds.

Partial. The service contacts the vendor; escalations come back to your team.

Yes. One deficiency checklist to the vendor and its agent, with a zero-login upload link.

Renewal cadence

Partial. Conditional formatting turns a cell red; someone still has to notice it and act.

Yes. Automated expiration reminders are standard.

Partial. Expiration reminders, on the desk's schedule and staffing.

Yes. Reminders run on the service's schedule.

Yes. 60, 30, 15 and 0 days before expiration, automatically.

Payment holds in Procore, CMiC, Yardi or AppFolio

No. Accounting has no link to the sheet, so deficient vendors keep getting paid.

Partial. Usually a status field or an export; someone still applies the hold in the ERP.

No. Your broker has no access to payments in Procore, CMiC, Yardi or AppFolio.

No. Results arrive as a report; your team applies holds by hand.

Yes. Places and releases holds through the connector as documents fail or verify.

Jobsite and building access control

No. Site and building access are managed separately from insurance status.

No. Access control sits outside the tool.

No. Site and building access stay with your team.

No. Site and building access stay with your team.

Yes. Locks Openpath or Brivo badges for deficient vendors on Enterprise.

Audit trail for tender defense

No. Proving what was checked, and when, means searching inboxes after the claim arrives.

Partial. Keeps certificate history; does not record which endorsement was checked against which clause.

Partial. Records live in the broker's system and are exported on request.

Partial. Review notes live in the provider's system under its retention terms.

Yes. Time-stamped verification log, every document version and the exhibit, exported as one packet.

Reviewer time per COI packet

25 to 40 minutes per packet when done properly.

Seconds for the front page, then about 23 minutes reading endorsements by hand.

About 20 minutes of your team's time per packet, plus the desk's turnaround.

About 10 minutes of your team's time per packet, plus turnaround in business days.

About 15 seconds to read, then about 3 minutes of human sign-off on flagged results.

Annual cost at 150 vendors

About 600 reviewer hours a year, roughly $27,000 in loaded PM time.

Software subscription plus about 430 reviewer hours (about $19,300) on endorsements and chasing.

Often bundled into broker compensation, plus about 380 internal hours (about $17,200).

Service fees plus about 245 internal hours (about $11,000) for intake, exceptions and holds.

$8,388 a year on Professional, plus about 79 reviewer hours (about $3,550).

Every comparison

Read the one that matches how you work today.

Manual spreadsheets

Pikorua Security vs. Manual Spreadsheet COI Tracking

A spreadsheet records what is printed on the ACORD 25 front page: dates, limits and a Y in the additional insured column. It cannot see the endorsement pages where most coverage defects live, so spreadsheet tracking misses roughly 70% of endorsement defects even when every row is filled in correctly. Pikorua Security reads those pages, verifies endorsements at 99.4% accuracy and holds payment on deficient vendors automatically.

0/13checks built in, vs. 13/13 for Pikorua Security

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Outsourced review services

Pikorua Security vs. Outsourced COI Review Services

Outsourced review services take certificates off your desk: a remote team checks each COI against your requirements and reports back.

3/13checks built in, vs. 13/13 for Pikorua Security

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How we compare

Approaches, not products.

These pages compare ways of running a COI program, not named vendors. Every approach can be done well or badly; we score what each one does by default, on every packet, without someone asking. A yes means the check happens automatically. A partial means it happens on request, for some vendors, or at a higher service level. A no means the approach has no way to do it.

Defect and time figures come from the AGC Risk Committee Audit, the IRMI Construction Risk Survey, the CFMA Time Study and Pikorua Security benchmark data. Cost estimates use the same model on every page: two packets per vendor a year, a 71% first-review defect rate and a $45 loaded hourly cost, all adjustable in each calculator.

Pikorua Security is software. It verifies certificates and endorsements against your contract requirements; it does not provide legal advice, is not an insurance agency or broker, and does not sell, bind or underwrite insurance. For what each ISO form does, see the ISO Endorsement Library.

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