JLT Canada, Certisync look to overhaul tenant insurance processes, maximize portfolio insurance strategies.

Jardine Lloyd Thompson Canada Inc. and Certisync International have teamed up as part of a joint venture to help property managers and administrators in Canada and revolutionize how the industry regulates tenant insurance processes.

Aimed at giving property managers greater peace of mind, JLT Canada announced Wednesday that it has signed on with InsuraSync, Certisync’s tenant insurance compliance management program for property managers and administrators.

The idea is to provide a comprehensive solution for maximizing portfolio insurance strategies.

JLT Canada, a subsidiary of Jardine Lloyd Thompson Group plc, offers insurance, reinsurance and employee benefits-related advice, brokerage and associated services; Certisync is a communication platform and methodology dedicated to providing 100% access, visibility and transparency to required vendor and tenant documentation status, notes a statement from JLT Canada.

The statement suggests the joint venture will help mitigate a number of issues faced by property managers and administrators, as well as allow for a seamless process.

Property managers and administrators are often left to figure out whether or not their tenants are accurately submitting proof of insurance documents, JLT Canada explains. “If left unchecked, this can leave organizations highly vulnerable to insurance liabilities,” the company cautions.

Related: 37% of Quebec tenants have no home insurance: IBC survey

The program allows for the following:

• tenants can upload their latest certificates of insurance through their personal secure online portal, which minimizes client administration costs;
• Certisync’s team reviews the tenant submissions to ensure they meet the requirements stipulated in the lease, highlighting any gaps in coverage and working collaboratively with tenants to correct;
• tenant insurance status is visible to any client-credentialled user, from any device with an Internet connection; and
• tenants can view, print or share their insurance certificates from their phones, tablets or computers.

“Certisync provides a tenant insurance-monitoring platform that helps property managers ensure their tenants are compliant and aware of their insurance requirements,” says Suzanne Liberman, JLT Canada’s managing director of life sciences, healthcare and real estate. The program is “a great solution for property management due diligence,” Liberman continues.

Related: Fewer than half of B.C. renters have tenant insurance: poll

“We are pleased to add JLT Canada’s deep in-market insurance expertise to our proven methodology for managing compliance,” says Paul Perras, managing director of CertiSync International.

“Together, we offer the market the first comprehensive solution for maximizing portfolio insurance strategies, and then collecting and maintaining proof of tenant insurance that aligns with lease requirements,” Perras adds.