Assurance Informational Packet
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This document describes vendor screening and risk management services provided by Assurance Screening, LLC. They specialize in screening subcontractors and vendors for clients by collecting and verifying required documents and checking for risks based on customizable criteria. This includes services like verifying certificates of insurance, checking for bankruptcies or liens, and validating licenses and qualifications. Assurance Screening aims to help clients reduce risks, prevent fraud, and lower auditing costs associated with oversight of their business partners. They offer different screening packages tailored to clients' needs starting at $90 per vendor screened.
Assurance Informational Packet
- 1. Vendor Screening & Risk Management Assurance Screening, LLC 15400 Knoll Trail Drive Suite 220 Dallas, TX 75248 214.988.5429 www.assurancescreening.com
- 2. Assurance Screening, LLC Risk Management Screening Professionals Assurance Screening provides a solution to client organizations for evaluation of subcontractors and vendors Specialize in due diligence screening, credentialing and the collection and verification of required or requested documents of the vendors and subcontractors of our clients Screenings based on client’s Unique Screening Criteria (USC)- tailored to follow client risk management guidelines and parameters Our process is web-based = No software installation required by client or subcontractor/vendor We are a Texas based HUB certified Minority Business Enterprise Subcontractor Screening & Continued Management Screening is based on your subcontractor qualification/evaluation form and risk management parameters Upon screening and verification of the subcontractor or vendor, any information that creates a positive hit, or does not meet the requirements of the specified screening parameters, receives a flag on the system, and if necessary, additional communication to the client All aspects of the screening process are handled by the Assurance Screening notification and collection system Findings and documentation delivered via secure website www.assurancescreening.com ©2011 Assurance Screening, LLC
- 3. Description of Services Collection and Verification of Certificate of Insurance Assurance Screening handles everything from document retrieval, storage and management of certificates of insurance, including liability and worker’s compensation coverage. We verify if your business partners have the correct coverage amounts that your business requires. Through our producing agency verification, you are notified if we find fraudulent documents and if anything is changed, altered, or cancelled with your business partners policies. Bankruptcy, Lien, & Judgment Check Assurance Screening helps determine the financial stability of your suppliers, vendors, and contractors by screening public records for bankruptcy filings, tax liens, and judgments. This screening can be implemented and monitored at any interval chosen by the client whether daily, weekly, etc. OSHA Citation & Violation Search Assurance Screening screens to identify any citations and/or violations listed with the United States Department of Labor Occupational Safety and Health Administration (OSHA). Such can result from planned or unplanned company inspections or from referral. Ensuring that the companies you do business with are safe and healthy places to work is essential in positive company standing and public image. EIN & W9 Collection & Verification Assurance Screening checks the validity of your business partners’ tax identification numbers as well as provide SSN verifications of your independent contractors. EMR Collection & Verification Experience Modification Rate (EMR) has strong impact upon a business. It is a number used by insurance companies to gauge both past cost of injuries and future chances of risk. Assurance Screening helps our clients by collecting and verifying the 3 Year EMR histories of our clients’ subcontractors and vendors. Business Profile Report This report provides the information needed to make informed credit-granting decisions quickly and easily. Reports include current payment information, payment trending, public record information including bankruptcy, lien and judgments, company background information and financial information. Professional License & Educational Verifications Assurance Screening verifies that your business partners have up to date operating licenses for their field of expertise. Assurance Screening can also verify that your business partners have the educational degrees stated in their hiring process. Corporate Status Verification Assurance Screening verifies the company’s good standing status with the state as an active corporation. We conduct state business entity verifications. Professional & Project Reference Checks Assurance Screening provides a third-party solution for professional reference collection and past project reference checks. Our firm follows up with each reference listed and documents back the information received from the client customizable screening questions. Additional Document Collection & Verification Services With customizable document collection and management services, Assurance Screening can assist your organization in the collection and verification of most documents you require from your subcontractor, vendors and suppliers. Whether you require Bonding Capacity Reference Letters, Bank Credit Letters, MBE/DBE certification collections, or other documents, Assurance can make sure you are receiving those documents, and communicate with your business partners on what your company requires. www.assurancescreening.com ©2011 Assurance Screening, LLC
- 4. Benefits of Our Services Client dictates Unique Screening Criteria Client sets Unique Screening Criteria (USC). Assurance screens based on your organization’s risk- management guidelines and parameters. Assurance provides the outcomes of the screened criteria back to our clients on which service providers meet that criterion, all of which can be viewed online. Assist with Fraud Prevention Program Assurance decreases company related subcontractor and vendor fraud and increases corporate control. The Association of Certified Fraud Examiners March 2009 survey of CFE’s state they expected vendor fraud to increase 41.4% in 2009– ACFE’s study of the Impact of an Economic Recession. Decrease interruption of business activities Assurance helps determine the financial stability of your subcontractors and vendors by screening public records for bankruptcy filings, tax liens, and judgments, as well as pulling other types of business credit reporting. This can be executed at any frequency, as chosen by the client. Eliminate exposure to changes in coverage amounts or fraudulent liability insurance Through our producing agency verification, you are notified immediately through our system of fraudulent documents and if anything is changed, altered, or cancelled with your subcontractors and vendors insurance. No software to install Our screening solutions are web-based. All of our data is scanned, sorted, and secured online. Significantly lowers our client’s vendor & subcontractor internal auditing costs Because the Assurance Screening process is designed with flexible pricing in mind, you can significantly decrease the costs incurred to manage and screen your business partners. Pricing options available include: Subcontractors/vendors cover the cost Your company covers the cost You & your subcontractors/vendors split the cost Immediate knowledge of where your business partners stand No software to be installed by client or their subcontractors and vendors. Assurance Screening is completely web-based, providing our clients with secure 24/7 access to reports. Creates a win for your business partners Assurance is also a “self-check” device so your subcontractors and vendors know what information on their business may be fraudulent or incorrect. www.assurancescreening.com ©2011 Assurance Screening, LLC
- 5. Solutions to Fit Your Needs Assurance Screening offers different screening solutions so your organization can experience increased corporate control over vendor and contractor credentialing. No matter which solution fits your organizational needs, each of the packages final design is based upon your Unique Screening Criteria (USC). Below are some example packages that our current clients have implemented. Sample Screening Package 1 Collection of Certificate of Insurance Quarterly Producer Agency Verification of Insurance EMR (Experience Modifier Rating) Collection & Verification Business Credit Profile Reporting Professional License Collection & Verification OSHA Citation/Violation Search Quarterly Business Entity Verification Cash Flow and Balance Sheet Collection Banking Reference Letter Collection Bonding Reference Letter Collection & Verification Cost per Vendor/Subcontractor Screened $129 Sample Screening Package 2 Collection of Certificate of Insurance Monthly Producer Agency Verification of Insurance Company Civil Financial Check - Bankruptcy, Tax Lien, Judgment Search Corporate Status Verification OSHA Citation/Violation Search Quarterly Professional License Verifications (up to 3) Minority Business Entity Verification Cost per Vendor/Subcontractor Screened $115 Sample Screening Package 3 Collection of Certificate of Insurance Quarterly Producer Agency Verification of Insurance Bankruptcy, Lien, & Judgment Check OSHA Citation/Violation Search EIN Collection and Verification of Business Cost per Vendor/Subcontractor Screened $90 Sample Screening Package 4 OSHA Citation/Violation Search Quarterly Professional License Collection & Verification Collection of Certificate of Insurance Monthly Producer Agency Verification of Insurance Cost per Vendor/Subcontractor Screened $55 www.assurancescreening.com ©2011 Assurance Screening, LLC
- 6. Description of Services Additional Screening Capabilities Employee & Applicant Screening A company's most valuable asset is its people. There can be tremendous consequences resulting from poor hiring decisions. Employment screening helps promote a safe and profitable workplace. Screening is an effective strategy in mitigating the risks involved in company and business expansion. Applicants with criminal records or false credentials are also less likely to apply if the company has protective measures in place. National Criminal Check (Including Sex Offender) State Criminal Check Government Watch List/OFAC Search Tenant Screening As a property manager, the only protection that you have against a bad tenant is the due diligence that you conduct that helps to identify risk. Effective tenant screening is an important tool for every property manager. You protect your property, your income, and your existing tenants when you know the background and verify the insurance coverage (if applicable) of your tenants or potential tenants. Screening services reduce the worries about credit reporting regulations and ease the complicated and sometimes difficult process of obtaining credit information. You will know you are fully FCRA (Fair Credit Reporting Act) compliant once you choose to screen your tenants. www.assurancescreening.com ©2011 Assurance Screening, LLC
- 7. Our Software Security is a high priority and an integral part in the design and of Assurance Screening’s credentialing system. Attention is given to high publicity threats such as viruses, denial of service attacks and other malicious activities over the Internet, as well as to maintaining the integrity and confidentiality of sensitive application data such as credit reports, social security numbers, and other identifying information. Assurance Screening utilizes industry-leading technology to secure the software and its operating environment, including client authentication (password-controlled access), Secure Sockets Layer (SSL) protocol, 128 bit data encryption, public-private key pair, firewalls, intrusion detection, filtering routers, and data backups. Each component acts as a layer of protection to safeguard information from unauthorized users, deliberate malfeasance, and inadvertent loss. Additionally, the physical server machines are hosted at a state-of-the-art collocation facility that is staffed on-site 24/7 to provide an immediate response to any incident. Access to the facility is restricted to authorized personnel and is secured by both password-protected keypads and biometric scans. Security Summary Enterprise firewall protection Enterprise anti-virus software 128-bit encryption Public-private key pair IP address or range restrictions Intrusion detection Filtering routers Mirrored hard drive data servers Weekly OS security patches Consistent firmware, driver, and patch updates to servers and network components 24×7x365 electronic and physical security www.assurancescreening.com ©2011 Assurance Screening, LLC