How billing works for insurance tracking services
For our insurance tracking solutions we use the definition of an "Account". This is simply a "job" or a "lease" for which you track a unique evidence of insurance from a vendor or tenant.
The architecture of BCS allows you to track different evidences of insurance for the same Vendor or Tenant - also referred to as "Jobs" or "Leases".
1 Vendor/Tenant : 1 COI
A lot of companies will typically just track 1 COI per Vendor/Tenant.
In this case you'll have as many Accounts as you have Vendors/Tenants, because you track 1 job per Vendor or 1 lease per Tenant.
1 Vendor/Tenant: Multiple COIs
If you're an organization where you track multiple COIs per Vendor/Tenant you will likely have multiple jobs/leases per vendor/tenant and therefore pay for more accounts than you have vendors/tenants
Here's how it works - using vendors as an example:
1. If your locations require different additional insureds on the COI, you are in a scenario similar to this:
2. This means if 1 vendor works at all these locations, you'll need different evidences of insurance for the same vendor:
3. In the example above, you'll pay for 3 accounts for this vendor or tenant.