Simplifya Verified Platform to Deliver Efficient Cannabis License Verification Process for HUB
December 3, 2020 – Hub International Limited (HUB), a leading global insurance brokerage, announced today that is has chosen Simplifya, a leading provider of operational and regulatory compliance software for the cannabis industry, to provide ongoing cannabis license verification in order to help identify and support valid cannabis operators with insurance coverage.
Licensing for cannabis businesses in the U.S. is particularly complicated. Compliance requirements vary by state, by the type of business, and by the physical location of the operation. And, licensing requires proper due diligence in order for cannabis businesses to operate legally and maintain compliance.
“Proof of insurance shows operational maturity and is an essential step for cannabis cultivators, manufacturers, transporters, and distributors to keep growing their business,” said Jay Virdi, Chief Sales Officer for Cannabis Specialty Practice, HUB International. “With Simplifya, HUB can more efficiently protect legitimate cannabis operators by ensuring their licensures are complete, valid, and active – all of which are non-negotiable necessities for securing proper insurance coverage.”
HUB’s Cannabis Specialty has more than 130 members servicing over 400 cannabis-related recreational and medical clients. HUB clients include companies across the cannabis spectrum throughout North America, including cultivating and harvesting, transportation, retail/dispensaries, manufacturing, and laboratories, as well as wholesale and distribution centers. HUB understands the complexity of the cannabis industry and the many unique insurance coverage limitations and exclusions that can leave businesses exposed to risks. None of which can be secured without proper proof of licensure.
The Simplifya Verified platform currently monitors real-time cannabis license data for 34 states, Washington D.C., Puerto Rico, and all Canadian provinces. While each of these jurisdictions makes cannabis license information available; the format in which they provide it differs from state to state and by province, making manual monitoring both time and labor-intensive. Simplifya’s in-house legal team has completed the data collection of more than 35,000 license records and will provide HUB with an efficient and comprehensive view of client and prospect licensure status.
“One of the major hurdles still facing the cannabis industry is understanding exactly with whom you are doing business or, in the case of HUB, what type of cannabis business they are helping to secure insurance,” said Marion Mariathasan, CEO & Co-Founder of Simplifya. “Simplifya Verified provides companies with a much-needed risk management tool in order to be able to confidently invest in and provide services to legitimate, licensed cannabis operators.”
Simplifya is the nation’s leading regulatory and operational compliance tool for the cannabis industry, empowering small and large businesses to proactively manage compliance tasks across all facilities and license types. Simplifya’s web-based self-auditing system distills complex state and local regulations into a series of simple yes-or-no questions to facilitate self-audits, identify areas of non-compliance, manage remediation efforts, and generate management and audit reports. Simplifya’s SOP feature automates the assigning, tracking, and versioning of standard operating procedures, while its Smart Cabinet digital filing system houses all of a business’s required compliance and operational documents in one place. For more information, visit www.simplifya.com.
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 12,000 employees in offices located throughout North America, Hub’s vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, please visit www.hubinternational.com.