EXO Edge Closes $10M Vendor Insurance Gap, Speeding Audit Sign-Off by 6 Weeks

Client Profile

The client is a U.S.-based multifamily property management company overseeing a growing portfolio of multifamily residential communities across several states with approximately 150 properties. Like most owner-operators on a scale, the business relies on a large, multi-trade vendor network of roughly 1200 contractors security, HVAC, landscaping, janitorial, elevator maintenance, and general contracting — each contractually required to carry defined General Liability, Workers’ Compensation, Umbrella Liability, and Additional Insured coverage.

Certificates of Insurance (COIs) were tracked through a mix of spreadsheets and a third-party COI portal, with
compliance oversight split across property-level staff and a small central team.

The Challenges

As the vendor base grew, manual COI verification could not keep pace. Certificates expired without renewal follow-up, coverage limits fell short of contractual requirements, Additional Insured endorsements were missing, and named-insured details didn’t always match the vendor of record.

An internal compliance sample of 50 vendors flagged a meaningful share of vendor files with one or more of these gaps — enough to concern the audit team and trigger a wider review of 200 vendors.

The most consequential gap involved a trade contractor who carried coverage well below the umbrella and additional-insured limits required for the scope of work — a mismatch that had gone undetected for an extended period. Because the control couldn’t be shown to be operating consistently across the portfolio, management’s audit sign-off was delayed while the exception population was investigated further.

The client needed a structured, repeatable way to validate vendor insurance compliance across hundreds of vendor files — not just clear the immediate backlog, but build a process that would hold up under future audit scrutiny as the portfolio continued to expand.

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