Bunker, a San Francisco-based insurtech startup, has launched a program that provides real-time proof of insurance. Certificates of insurance are largely issued as PDF documents, which Bunker says are difficult to track, easy to fabricate, and can only provide static data.
Because the insurance industry has not kept up with the pace of the changing economy, up to 40% of independent contractors are non-compliant at any given time, according to Bunker. This can leave businesses and contractors exposed to damages, even if they have a seemingly compliant CIO on file.
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