Case Study: Thompson Thrift achieves stronger insurance compliance and risk visibility with myCOI

Thompson Thrift Builds Value from Visibility

Thompson Thrift, a full-service development and construction company, faced significant risk management challenges due to its high volume of subcontractors. The manual process of reviewing thousands of insurance certificates was inefficient and led to missed compliance gaps, resulting in substantial financial losses and litigation. The company needed a solution to proactively identify underinsured subcontractors and verify coverage to mitigate these risks.

The company implemented myCOI's insurance tracking solution and services. This provided Thompson Thrift with a dedicated software and team of insurance professionals to identify and eliminate compliance risks. Within seven months of using myCOI, 82% of subcontractors were compliant with contract requirements, and the risk management team was empowered to prevent losses in real time, securing the company's operations against previously hidden risks.

Thompson Thrift

Henry Stadler

Chief Operations Officer