TRAXX - Certificate Tracking
Certificate tracking is not rocket science. It's a repetitive process that is easily capable of numbing the mind, and ticking off the lessee when they receive constant demands for certificates. Our experience of some of the extremely poor attempts at tracking caused us to commence our own tracking service.
Good certificate tracking relies on the ability of the Title Holder to maintain data and update that data as necessary. It also requires that the tracking service maintains adequate records, and has the ability to interpret a certificate when it is received. An analysis of the requests we received for certificates from other tracking agencies revealed that there was a definite lack of quality control, and that they were often unable to interpret information they had received.
We track all assets that require insurance coverage, including Real Estate, Industrial Equipment, Autos, Trucks and Boats.
- Database Available to Lessor and Lessee
- Database tailored to Lessor's Requirements
- Competitively priced
- "Dubious" Certificates checked by a professional
- Fully Automated, Date Sensitive Reminder System
- Substitute Coverage Available
TRAXX provides the Lessor with access to their asset database, allowing them to add, remove, and update assets and lessees. The same database, with limited data is also available to the Lessee, so that, in the event that he changes insurance carrier, he can make the necessary updates. This often prevents requests being sent to the wrong party, and the inevitable delay while the correct data is determined.
Although primarily intended for certificate tracking, our databases can be utilized by Lessors to retain more data than is required for the tracking process, and can provide the lessor with depreciation schedules, and net asset values. With a little help from our programming team, you can have your own tailored asset tracking program.
Our pricing structure is competitive, particularly when compared to the programs and services offered by other tracking agencies. We offer both a "Cost Plus" service, where the lessor pays all costs and a management fee, or a contract service, where a monthly fee based on the assets within the database is levied.
Many certificates are received with ambiguous wording or coverage. Where the information received is deemed unsatisfactory, or inadequate to provide the lessor with security, the certificate is reviewed by a licensed insurance expert, and, where necessary, a revised certificate is requested from the carrier/agency.
A daily report is issued by the system on all outstanding certificates, and our operators also have the ability to refresh this information 24 hours per day. The time lag from the initial request to a follow up is determined by you when your data is first installed. You, as the Lessor, have the ability to alter this time lag on a global basis for your whole database.
In most cases, we can, where there is no evidence of a lessee's coverage, provide you with temporary cover, which will be billed to the Lessee. It is in your interest, however, to keep this interim coverage period as short as possible, as, in the event that the lessee does not pay the premium, it will become your responsibility. Remember, a failure to purchase insurance is often the first sign of a lessee in trouble.