Initiating Franchisee Insurance Compliance
This process is critical to ensuring Rikor receives the correct data to initiate the franchisee insurance compliance process. Franchisors partner with Rikor because we try to simplify the process of collecting existing data. To make it simple for you, we've partnered with several franchise management systems, offering real-time integrations.
Technology Integration
The franchise management systems we have partnered with to date:
Each system offers a simple process to integrate. Rikor will handle everything on our end for no additional cost. If you are using a different FMS please let us know. We cannot guarantee an integration as we build based on demand.
Many franchisors are not using an FMS, for those of you who are not we have a simple csv file upload process that we walk you through. The only thing we require is an export of the relevant data we need to start engaging with your franchisees.
Launching Insurance Monitoring with Existing Franchisees
Franchise Brand Intro to Zees
We believe in a slow approach to launching insurance compliance monitoring. We do not want to disrupt franchisees existing behavior, or cause a lot of frustration. We ask that each franchise brand introduces us to the existing franchisees through a newsletter, email, and or post within their intranet. You can use the following language as a template and modify it as you see fit.
Subject: (franchisor name) New Insurance Partnership Announcement - Please read
Pre Header: (franchisor name) launches a new insurance program to help franchisees avoid self-insuring and harming our brand reputation
Hi (first_name),
(franchisor name) is partnering with Rikor Insurance Consultancy to launch the Rikor Insurance Program.
What to expect:
- Rikor will be emailing you on our behalf
- Rikor will be collecting your COIs - Certificate of Insurance - see example
- Rikor will be actively monitoring for proper insurance
What you need to do:
- Check your email for a request from Rikor
- Click the “Upload COI” link - Learn More
- Drag and drop your COI onto the upload page
How this benefits franchisees:
After you upload your current COI, Rikor will monitor your coverage and send you insurance notifications on your behalf. This is to keep you and your business protected. Please follow the instructions per the notification.
- Gap in coverage notification - non-existent insurance coverage that exposes you to uninsured claims
- Lapse or expired policy notification - unintentionally letting important policies expire, exposing you to uninsured claims
- Missing coverage notification - reminder to obtain insurance that protects you from uninsured claims
- Insufficient coverage - reminder when current policies might be sufficient to pay for a foreseeable event
Please notify Rikor when completed.
Rikor Insurance Compliance Initiation Process
After your initial email, we will turn our insurance monitoring software “on”. The initial engagement will be another warm welcome email, introducing us, what we do and why. After that, we will begin requesting certificates of insurance from each existing franchisee.
Initial Request
All franchisees will start to receive branded emails directly from Rikor with a request to upload a current version of their COI. From the email, they will be taken directly to a unique landing page specific to them where they are asked to upload their COI.
What they'll see:
- Their entity name
- Their location address (could be mailing, billing, or physical)
-
Drag and Drop Upload Area
- This is where they'll upload their COI with relevant franchisor information on it
- FDD Required Coverages
- Policy Status
- Compliance Status
- View Detailed Insurance Report
- They can view a detailed breakdown of all the issues if needed
Not-Verified Request
If a franchisee fails to provide proof of insurance for all required coverages they will be asked to upload another certificate of insurance. The email or the upload page will specifically tell them what is missing.
Renewal Request
15 days before the franchisee renewal our system will reach out again to ask for updated required policy information. You can find these franchisees in the RMS.
Expired Policy Request
If their required policy expires our system will reach out to collect the updated information. These franchisees are considered “lapse in coverage” and will be on a report and list within the RMS.