A new study from Evident, a leading provider of automated third-party insurance verification and credentialing services for enterprises, finds that inadequate third-party insurance coverage averages $1.875 billion in risk exposure for large enterprises. These findings are the result of two years of research with the automated insurance verification provider’s customers and the partners, vendors, suppliers and franchisors for whom they verify coverage.
- Based on an analysis of tens of thousands of records, Evident found that, on average:
- Inadequate third-party insurance coverage averages $1.875 billion in risk exposure for large enterprises
- 75% of third-party vendors do not meet the insurance requirements of the companies that hire them
- 31% of third-parties simply don't respond to requests for verification
Download this white paper to learn about these findings and how automation can reduce risk for organizations.
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