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 can import your franchisee roster from FranConnect.

Technology Integration

The franchise management system we import from today:

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. See What integrations are available?

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 My COI” button - 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
• Their brand's insurance requirements
  • Each coverage, the minimum limits and the endorsements
  • The Certificate Holder, exactly as it must appear
• Their results, after Rikor reviews the certificate
  • A Coverage Review Summary that names each item that needs attention

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

Before a required policy expires, 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 show a Policy Status of “Lapsed” and appear in the Franchisees list when you filter by Lapsed.