Insurance companies require the use of contractors for handling repair and restoration work from claims. As the entity engaging the contractor to perform the work, insurers have direct, albeit shared, responsibility for the safety of the work being conducted and the delivered product. Having a cohort of trusted suppliers and contractors can become a competitive advantage for insurance companies as:
- Qualified contractors can be deployed for works quickly
- Your reputation is strengthened by the speed and quality of repairs
- Your contractors are operating safely and compliantly under WHS legislation
The administration required for the engagement and ongoing credential verification of contractors can involve a significant time investment when handled in-house. A contractor prequalification and safety management system can handle much of this workload and bring efficiencies to the claim handling process.
Using Cm3 for Insurance Contractor Compliance and Prequalification
Many insurers in Australia utilise Cm3 as their contractor prequalification and safety management system. Cm3 removes the stress of storing contractor documentation by managing them centrally in risk based database. This makes it easy for insurers to find the relevant information and confirm a contractor’s prequalified status.
When adopting Cm3, your contractors are invited to register on the platform where they will create their business profile and be prompted to upload their insurances, licences, safety plans, SWMS, and other key documents. An in-house team of WHS qualified Assessors scrutinise contractor safety management practices and how your contractors meet their WHS obligations and compliance requirements. These Assessors have significant experience and deep knowledge around navigating complex regulatory environments such as chain of responsibility and safety management in the construction and infrastructure industry.
Cm3 reduces the time it takes for insurance companies to administer and deploy qualified contractors for repairs for time sensitive projects. You are able to manage your list of approved contractors through the Cm3 Portal, where you can make customised requests for documentation and declarations. Additionally, there are tens of thousands of existing contractors in Cm3’s database that insurers are able to search through for qualified contractors across Australia and New Zealand.
You are able to monitor your contractors’ performance and compliance through advanced dashboard reporting on Cm3. Additional tools that insurance companies can employ to enhance their contractor management and compliance include:
- Corrective action requests (CARs)
- Ethical sourcing / Modern slavery data collection
- Inductions and training
- Integrations with procurement and invoicing systems
- Onsite contractor verification services
For more information, book a demo with Cm3 today.