myCOI, a provider of cloud-based software for tracking and managing certificates of insurance, announced plans to expand its headquarters in Indianapolis, creating up to 185 jobs by 2021.
myCOI aims to ease the process for businesses that collect certificates of insurance (COI’s) by offering a software platform that provides a single place to view your COI’s, compliance, and risk reporting for your vendors, suppliers, tenants, subcontractors, franchisees, and carriers.
According to Kristen Nunery, founder and CEO of myCOI, “Businesses have to verify that the third-parties they work with have compliant insurance. Seventy percent of the time, they don’t. Unless you are pushing and asking, that third-party isn’t likely to be proactive until those requirements are needed.”
Why is that? “Most companies don’t understand the ins and outs of an insurance policy. Contracts get signed without paying close attention. That’s why our piece in validating these requirements becomes so critical so we can step in, help the issue get resolved, and financially protect our customers” said Nunery.
Founded in 2009, myCOI went to market in 2011 and is backed by several local angel investors for a total of $2.4 million, including the Indiana Angel Network Fund and Elevate Ventures. In 2016, myCOI won the Venture Club of Indiana’s Innovation Showcase Pitch Competition and Nunnery herself was named to the 2015 Young Guns list by Insurance Business America
Nunery currently employs 36 full-time employees at myCOI and through this announcement of 185 new jobs plans to add more staff in insurance services, tech and sales.
Current customers include Cushman and Wakefield, RE/MAX, Meyer Najum, Caterpillar and several local events facilities such as the Indianapolis Motor Speedway and the 500 Festival.
Previously located at 96th and Keystone, myCOI will relocate to 445 N Pennsylvania Street in downtown Indianapolis. This new office will have 6,841-square-feet, allowing myCOI to double their current footprint and staff the new talent they will hire.