Nationwide partners with TrustLayer to pioneer on-demand commercial insurance verification

Columbus, OH and San Francisco, CA – Nationwide and TrustLayer today announced they have partnered to provide what is believed to be an industry-first digital verification of commercial insurance for policyholders and broker partners. This now means that Nationwide customers will be able to have their commercial insurance policy details verified and validated on demand, alleviating an antiquated and tedious paper-based process. 

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“Today, industry standard for verifying proper insurance coverage relies on static, paper-based certificates of insurance and places the responsibility on companies to track and validate authenticity on an ongoing basis,” said Rob Chenoweth, vice president of National Technical Underwriting and Automation for Nationwide Small Commercial.  “This can be problematic if a policy is canceled or coverage is reduced, because relevant stakeholders – for instance a general contractor who relies on bonded and insured subcontractors – have no way of knowing this on-demand and could be held liable if an accident occurs. This relationship with TrustLayer is designed to simplify the insurance verification process for our customers and distribution partners and is another example of our commitment to putting them at the center of everything we do.”

Through the partnership, a business or broker partner who is a TrustLayer customer, can now validate on-demand that Nationwide policyholders meet the certificate holder’s contractual insurance requirements. Digital validation stands to reduce fraud and enhance both claims and underwriting processes for Nationwide and other key stakeholders. 

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This new relationship is just the latest example of TrustLayer and Nationwide’s industry innovations.

TrustLayer has built a modern technology solution which allows policyholders to validate the insurance of their third parties across any vertical. TrustLayer’s buy-in from insureds and brokers on solving this pain point made the partnership a natural fit.

Meanwhile, Nationwide has served as a leader in providing tech-enabled experiences for its customers and partners. In 2023, the company built the industry’s first commercial lines insurance verification application programming interface (API) with the goal of streamlining the verification process for brokers and risk managers through digital delivery of policy details directly from its policy administration system.

Now, the two leaders have built a better way for businesses to be certain the third-parties they work with have coverage.

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“To be truly certain that your partners have the right insurance, you have to go beyond a certificate of insurance,” said John Fohr, Co-Founder and CEO at TrustLayer. “A certificate of insurance only validates coverage at a point in time. To achieve true proof of insurance you must use reliable policy data. Before TrustLayer, companies only validated proof of certificate – not proof of insurance,” he expanded. “I believe this is the way forward – not only for insurance but for licensing, and countless other compliance scenarios where trust must be established between companies. We are fortunate to work with dozens of amazing partners, to reimagine the way companies share and validate information in order to build trust.”

To get started with this new on-demand insurance verification capability, visit trustlayer.io/pages/nationwide.

For more information about integrating with Nationwide’s insurance verification APIs, visit Nationwide’s Partnership webpage.

About TrustLayer
TrustLayer is an AI-powered collaborative risk management platform working to digitize the highly manual, error-prone, and paper-based process of insurance verification. With TrustLayer, companies can securely automate the verification of insurance, licenses, and compliance documents of their business partners (i.e., vendors, subcontractors, suppliers, borrowers, tenants, ridesharing, and franchisees) in an easy-to-use digital dashboard. TrustLayer is working with dozens of the largest brokers and carriers in the U.S. to build out a fully digital proof of insurance solution so companies will be able to validate in real-time that their business partners have the correct coverage. The company is backed by leading investors, including Craft Ventures, Abstract Ventures, Box Group, Propel Ventures, Sure Ventures and PruVen Capital, and has also received investments from more than 20 of the top 100 insurance brokers. To learn more, visit trustlayer.io, or follow us on Facebook, Twitter, and LinkedIn.