WALNUT CREEK, Calif., June 30, 2023 /PRNewswire/ -- Heffernan Insurance Brokers, one of the largest full-service, independent insurance brokerage firms in the United States announced a partnership with TrustLayer, to allow customers to access TrustLayer's artificial intelligence (AI)-powered collaborative risk management platform.TrustLayer will enable faster and more efficient proof of insurance verification and help Heffernan customers better manage their risk by using its innovative digital solution. Virtually every business struggles with insurance verification. For those who do it well, the administrative burden is high — with manual processes and millions of static documents changing hands across the U.S. Unfortunately, for those who don't manage these processes well, the risk is astronomical, with studies showing that 75 percent of vendors are underinsured. TrustLayer uses robotic process automation (RPA) and Artificial Intelligence to automate this process securely, so companies can automatically verify the insurance and licenses of their vendors, suppliers, borrowers, and tenants. Further TrustLayer is building connectivity to systems of record to allow for truly validating whether coverage is in force."Our focus at TrustLayer is to help relieve risk management pain points and reduce friction for businesses across the entire economy

John Fish, Suffolk Chairman & CEO, spoke to the crowd about the need for innovation in the construction industry (Photo: Business Wire). John Fish, Suffolk Chairman & CEO, spoke to the crowd about the need for innovation in the construction industry (Photo: Business Wire)

BOSTON--(BUSINESS WIRE)--The construction industry today is faced with a unique set of challenges in response to current economic conditions. Among increasing project complexities and a growing urgency for sustainable development, owners and contractors are confronting labor shortages, materials cost escalation and supply chain disruptions. These significant challenges are directly impacting project outcomes, as a recent survey commissioned by Procore Technologies, Inc. (NYSE:PCOR), a leading global provider of construction management software, found 75 percent of construction projects are over budget and 77 percent are behind schedule. Recognizing the immediate need to leverage digital solutions to address labor, supply chain, design, sustainability and automation goals, three years ago Suffolk Technologies, the venture investment affiliate of Suffolk, created its BOOST program. BOOST is an intense six-week business accelerator that connects technology startups in the built world with Suffolk leaders, industry experts and academics. Today, BOOST announced the seven construction technology startups selected for its third annual cohort. The BOOST program will allow these participants to test their solutions on Suffolk jobsites so they can demonstrate and improve their products while building key relationships with industry professionals