Surety2000 is a web-based system designed as an e-commerce clearinghouse for the insurance industry. Through our two flagship products, Bond Management System 3.0 and ISOcerts Online, the insurance professional now has a leading-edge tool to provide reliable, timely, and validated electronic certificates of insurance and surety documents to a certificate holder and owner/obligee.
Key functions of Surety2000 are to expedite the issuance of insurance documents in a less cumbersome and more cost effective manner.
- Surety companies can track and monitor surety bonds and powers of attorney electronically
- Surety agents can issue bonds instantly, providing a state of the art service to clients, while decreasing delivery costs and eliminating clerical errors
- Insurance agents can instantly issue certificates of insurance directly to the certificate holder
- Clients receive fast and reliable documents
- Owner/obligees receive surety bonds and certificates of insurance free of clerical errors, paperless, and protected from fraud.
- Alpha Trust Electronic Signatures have been integrated into the system, providing a legally binding document to all parties.
Surety2000 was designed in collaboration with major U.S. insurance companies.
ISO, the leading insurance data and insurance forms provider, has partnered with Surety2000. To assure all parties of security and reliability, all servers for Surety2000 are hosted at ISO headquarters and are monitored 24/7.
How does the Bond Management System 3.0 work?
Using web-based technology, Surety2000 allows the surety agent and surety company to work within an improved interactive environment, without altering existing, traditional relationships. The surety agent communicates with the client while the Surety Company authorizes electronic power of attorney. The keys to Surety2000 are the "Authorization Code," Alpha Trust electronic signatures, electronic control over powers of attorney, and the secure interaction and retention of data. In lieu of unreliable paper bonds, the surety agent will generate authorization codes through the system and provide these codes to the contractors/principals. Surety agents digitally sign these codes. The contractor/principal can request the bond and retrieve the bond (view only) from the agent through Surety2000, if they choose to.
Surety2000 has also developed strategic relationships with "on-line bidding systems." During the year 2001, an increasing number of government agencies will continue to install on-line bidding systems from various software companies. Surety2000 is available to be electronically integrated with all of these systems, assuring that the Surety Industry will be keeping pace with the demands of government and clients.
How does ISOcerts Online work?
While creating the project profile, the certifcate holder will create insurance requirements for all subcontractors/vendors. Insurance agents will then create certificates of insurance on behalf of their subcontractor/vendor. After creating the certificate, the agent will be able to instantly transmit a copy to the certificate holder however, Surety2000 will make an instantaneous comparison and display discrepancies to the certificate holder. The certificate holder enters www.surety2000.com, views the certificate and verifies compliance. Since Surety 2000 automatically detects discrepancies, the owner/obligee will be able to easily identify any erroneous certificates and contact the corresponding insurance agent with a rejection notification. This connectivity with the issuing agent avoids voice mails and inefficient methods of communication.
The certificates of insurance process not only eliminates the need for paper, it also eliminates faxing, mailing, and delivery services. Risk managers can easily identify inadequate certificates and instantly notify insurance brokers. In cases where a subcontractor has multiple insurance brokers, S2000 takes each separate policy and merges them onto one certificate of insurance for easy filing.
While an increased number of government agencies pilot Surety2000, others have already embraced the system and accept the Surety2000 "Authorization Code." As these pilots conclude, government agencies will be added to our user list. Check our "News" section for pilot programs.
If you are a Surety Company, Agent, Contractor, or Government Agency, you are invited to click on our registration request below. A Surety 2000 specialist will respond to your request. Please feel free to call us direct at 800-660-3263.
You can register by calling 800-660-3263 or by following one of the links below.
New Surety Registration
New Agency Registration
New Owner/Obligee Registration
New Contractor Registration