What is COI tracking software?
Certificate of Insurance (COI) tracking software automates the process of collecting, verifying, and monitoring vendor insurance certificates. Property managers and contractors use it to ensure every vendor working on a property has valid general liability, workers compensation, and any required additional insured endorsements (commonly CG 20 10 and CG 20 37) before letting them on site. Without software, this is typically tracked in spreadsheets and consumes 10-15 hours per week per compliance manager.
What's the cheapest COI software for small property management firms?
COIPulse offers a free tier for up to 15 vendors and paid tiers starting at $49/month for 50 vendors. SmartCompliance and TrustLayer start at $150-$200/month. myCOI, Jones, BCS, and CertFocus use per-vendor pricing that's typically $3-$10 per vendor per month and require annual contracts.
How does AI extraction compare to manual data entry?
AI-based COI extraction (used by COIPulse and TrustLayer) reads PDF certificates and endorsement forms in seconds with 95-99% field-level accuracy. Manual data entry by analysts (used by myCOI and CertFocus) is more flexible for unusual certificate formats but takes hours to days per certificate and costs significantly more. For standard ACORD 25 certificates, AI extraction is faster and equally accurate.
What are CG 20 10 and CG 20 37?
CG 20 10 (Additional Insured – Owners, Lessees or Contractors – Scheduled Person Or Organization) covers ongoing operations. CG 20 37 (Additional Insured – Owners, Lessees or Contractors – Completed Operations) covers completed work. Most property managers require BOTH endorsements on vendor COIs to ensure coverage during AND after the work is done. Quality COI software automatically scores whether these endorsements are present and properly attached.
Should I use a managed service or self-service software?
Managed services (myCOI, CertFocus) make sense if you have 1,000+ vendors and want to fully outsource the compliance function. Self-service software (COIPulse, TrustLayer) makes sense if you have 50-1,000 vendors and want lower costs plus faster turnaround. The break-even is usually around 800-1,200 vendors — below that, self-service automation is more cost-effective; above it, the human-analyst model can pay for itself in caught-issues per year.
Do these platforms integrate with property management software (Yardi, AppFolio, MRI)?
Jones, BCS, and TrustLayer have established integrations with major PMS platforms. COIPulse offers REST API and webhook integrations (compatible with Zapier, Make.com, n8n) for any PMS. myCOI and SmartCompliance have limited PMS integrations and rely on CSV import/export.