Vendor Insurance and Expiration Reminders

Vantaca helps management companies add, track, and manage Vendor Insurance information with ease, and even offers the ability to generate automated expiration reminders!

Follow the instructions in this article to manage Vendor Insurance Information through Vantaca’s Vendors > Insurance page as well as how to set up automated expiration reminders using Vantaca’s Vendor Insurance Alert action item.

Contents

• Adding Vendor Insurance
• Vendor Insurance Alerts
  • Email Notifications

Adding Vendor Insurance

To add vendor insurance:

1. Navigate to Vendors > Insurance. 
   The Insurance page displays.
2. Ensure that your vendor name shows at the top of the page or click it to open the search and select a different one. 
   Note: The association defaults to All Associations when landing on this page.
   
   
    
3. Click New Insurance.
   A blank row displays in the table
   
   
    
4. Provide the following information:
   • Insurance Type: Select the type of insurance from the list:
     Note: We recommend using the Misc/Other type for any that fall outside of the default types listed. 
     • Auto-Liability
     • General Liability 
     • Misc/Other
     • Professional Liability / Errors & Omissions
     • Umbrella Liability
     • Workers Comp
   • Account Number: Enter the vendor's account number.
   • Expiration Date: Enter the date of insurance expiration.
   • Required: Select if insurance is required for this vendor and you would like automated notifications to be generated as the expiration date is approaching. If not selected, no Vendor Insurance Alert reminders will be created for that specific Insurance account.
5. Click Update.

Vendor Insurance Alerts

Any vendor insurance accounts that have the Required checkbox selected will initiate alerts to be created through the Vendor Insurance Alert action item.

The Vendor Insurance Alert action item is designed to be generated at a predefined number of days PRIOR to Insurance expiration so that the relevant parties are notified before the insurance expires.

To edit the number of days prior to expiration that the alert is generated, and to edit who the notifications are sent to:

1. Navigate to Settings > Action Type/Steps page and search for the Vendor Insurance Alert action type. 
   Note: If you do not have access to this page, or cannot edit the Vendor Insurance Alert action item, contact your system administrator.
   
   
    
2. Click the caret next to the Vendor Insurance Alert to display the steps.
3. Click Edit next to the Expiration Reminder step (first step of the action item) and configure the following:
   
   
    
   • Send To: Change the role in the  field to send to the vendor or any role within your organization. 
   • Reply To: This field defines which role within your organization will receive the responses to these alerts. Enter the appropriate role, such as AP or the Association Manager,  to receive these responses. 
4. Click Update. 
5. Click Rules next to the same row.
   The Edit Rules - Expiration Reminder screen opens. For more information about this screen, see the "Action Type Rules" article.
   
   
    
6. Configure the following:
   • Alert Criteria (# of days): Set to how many days prior to the expiration that you want the reminder sent. Setting this field to 30 means that this alert is generated 30 days prior to the expiration date of those Insurance accounts flagged as Required. 
   • Days to Remain at This Step: Select how many calendar days you want to remain in the Expiration Reminder step before advancing to the next Expiration Warning step (which you can configure to send out another notification, possibly to additional roles, if needed).
     Example: With the Alert Criteria (# of days) set to 30 and the Days to Remain at This Step set to 15, the expiration reminder will be generated 30 days prior to the Expiration Date and will remain in that step for 15 days before advancing to the Expiration Warning step.
7. (Optional) From the Expiration Warning step, you can build out steps to automatically notify different roles within your organization as insurance expiration is reached. Many management companies choose to notify their AP or accounting teams to put a Hold on the vendor at this time.
   For more information about putting a vendor on hold, see the "How to Setup or Edit a Vendor" article.

Note: If there are open alert/reminder Action Items, a new Action Item will not kick off the next time.

For example: If there is a Vendor Insurance Alert that is still on the Hold Step and the insurance is due to expire again, it will not kick off a new alert Action Item.

Email Notifications

You can also set up an email notification for these alerts using the Rules screen. For more information about this screen, see the "Action Type Rules" article.

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