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About Periculum - Frequently Asked Questions
Describe Periculum in a nutshell Describe Periculum in a nutshell Periculum Services Group provides consistent and thorough pursuit, validation and tracking of certificates of insurance on behalf of their clients. This process minimizes the unintended assumption of liability that can occur when doing business with uninsured or underinsured business partners. Periculum Services Group uses sophisticated, internally-developed software to provide services efficiently. Additionally, the Periculum Internet site allows customers to view certificate images and data securely via the Internet, as well as adding and updating data. The combination of service and technology gives Periculum clients the best of both worlds - relief from certificate tracking administration with instant secure access to important business data from any business location. Periculum is the name of a software application designed and developed internally at Periculum Services Group explicitly for managing and automating the tasks associated with verifying appropriate insurance coverage carried by other firms. The development of this software as well as Internet web application capabilities, has brought about the Periculum Service Group to provide highly efficient, effective and low-cost services to risk managers who need to track certificates of insurance from their firms' business partners. The "Periculum" name is the latin word for "risk." What products and services are available? Periculum Services Group will manage all of the administrative chores associated with obtaining, verifying, and following-up certificates of insurance from a firm's business partners. The entire effort from sending letters, paying postage, fielding telephone calls, to policing insurance deficiencies is handled by Periculum using technology and industry professionalism to assure results. The comprehensive Periculum service offers clients Internet access to their data, scanned certificate images, reporting tailored to needs, electronic communication capabilities, and even customized automatic event notifications. Periculum's comprehensive insurance verification services is provided by experienced insurance industry professionals, and includes advance consulting and onsite orientation services to ensure success. Periculum helps risk managers, purchasing agents, buyers, contract administrators. Anyone in your organization who has responsibility for ensuring that the firms with whom they conduct business in your organization's name has proper and adequate insurance coverage. Through the use of Periculum technology and services, this labor-intensive administrative process is virtually removed from the organization. Administrative burdens and costs such as postage and phone calls trying to track down certificates are eliminated. With Periculum, certificate-tracking activities and costs are handled by Periculum staff and systems, and your firm only needs to interact with the Periculum Internet site to determine status, communicate with Periculum, apply waivers, and more. If you currently handle this costly administrative process in-house in a centralized department such as risk management, the effort can be significantly reduced without sacrificing effectiveness. Or if you're decentralized with numerous departments each having to obtain certificates, Periculum offers a way for the decentralized effort to be centralized within Periculum (where it will definitely be handled more consistently and thoroughly) while still allowing decentralized areas of your firm to monitor the efforts and use the information in their business dealings with their vendors. Why does Periculum mean real savings of time and money for any Risk Manager? Technology gives us an edge. Much of our communication takes place electronically, reducing costs. And the review of certificates is highly automated to reduce labor costs. Focused effort and expertise… all Periculum does is certificates, so we can do it better, faster, cheaper. Your firm can focus on what it does best, and Periculum will focus on our area of expertise. Periculum can give your firm more consistent and more effective certificate of insurance tracking, and our technology and process expertise allows us to do it less expensively than most firms can do it themselves. What makes Periculum better than other certificate tracking software and services on the market? For one thing, we use our own software. To ensure Periculum's survival, the Periculum software must be a cutting edge, highly efficient application. It is continually being refined and improved to support specialized client needs and our own processing efficiency needs. Another key advantage is the adoption of Internet technologies. While others give their clients token Internet access to certificate images or rudimentary data access, Periculum allows you to actively monitor and enhance your data. You can add to your vendor list online which automatically causes our software to pursue a certificate. You can apply waivers if a vendor has met all but one insurance requirement that you deem to be acceptable. You can indicate a vendor is inactive to suppress future certificate pursuits on our part. And that's just the beginning. My broker tracks certificates for us, and it's free! Why should I use Periculum? First, it's never 'free' and second, if it's presented as 'free' then what kind of service are you actually receiving. Not to denigrate any insurance brokers or agents, but they are not in business to track certificates of insurance - we are! And what happens when you decide that it's time to place your insurance through a new broker? What happens to your certificate-tracking process then? Periculum is independent. Periculum is focused. Periculum is effective. Have your broker give us a call... we could really help them out. |