Evident
Evident's Third Party Risk Management Platform revolutionizes the exchange of third party risk data, simplifying the management and vetting of Certificates of Insurance (COIs) and providing intelligence throughout the TPRM lifecycle.
Services
Evident offers a comprehensive suite of services designed to cater to organizations' needs globally. The company specializes in third party risk management with a focus on simplifying and verifying Certificates of Insurance (COIs). Evident provides an automated platform that facilitates the collection, verification, and monitoring of tens of thousands of data points. Their insurance verification solution automates COI collection, digitization, verification, analysis, decisioning, and continuous monitoring. The platform can also be white-labeled and partner-branded, providing flexibility for various businesses.
Platform and Technology
Evident's platform spans 140+ countries and supports 65 languages, making it a widely accessible solution for global organizations. The automated system simplifies evidence collection from third parties, significantly reducing administrative overhead by 90%. Evident's AI-powered analytics enable proactive risk identification and trend analysis. Additionally, the platform offers third-party relationship insights, entity resolution, and advanced analytics. With API integrations, the platform provides sophisticated services such as insurance and identity verifications, background checks, and business credentials.
Network and Compliance
Evident has a vast network of over 4 million verified third parties. The platform continuously monitors key risk signals to maintain compliance and verifies over 820,000 policies annually. Evident's technology helps streamline identity verification and onboarding processes, aiding companies like TravelCar and Mobiliti. The platform assists businesses in various industries, including commercial lending, construction, enterprises, franchises, government, grocery stores, logistics, manufacturers, retail, staffing, supply chain, and transportation, to meet compliance requirements by automatically filling coverage gaps.
Industry Applications
Evident's platform is utilized across a diverse range of industries. In commercial lending, Evident facilitates insurance verification and monitoring. The construction sector leverages Evident to ensure subcontractor compliance and liability coverage. Government organizations use the platform for insurance verification, accurate analysis, and report generation. Manufacturers benefit by reducing exposure to negative events like product recalls through visibility into supply chain insurance risks. Retailers and grocery stores rely on Evident for vendor compliance and coverage verification, while logistics and transportation sectors use the platform for monitoring supply chain risks.
Company Utilization Examples
Companies like 5F-SuperHighway have achieved significant business growth by leveraging Evident’s platform to improve onboarding proficiency. TravelCar and Mobiliti have streamlined their identity verification and onboarding processes using Evident’s automated solutions. Large enterprises use Evident to verify and monitor their third-party network coverage, ensuring compliance and mitigating risks. Evident’s network also supports government organizations in verifying insurance, ensuring it is up to date, and producing on-demand reports. This widespread usage demonstrates the platform's efficacy and versatility across multiple business models.