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Comparison

Pikorua Security vs. Manual Spreadsheet COI Tracking

A spreadsheet records what is printed on the ACORD 25 front page: dates, limits and a Y in the additional insured column. It cannot see the endorsement pages where most coverage defects live, so spreadsheet tracking misses roughly 70% of endorsement defects even when every row is filled in correctly. Pikorua Security reads those pages, verifies endorsements at 99.4% accuracy and holds payment on deficient vendors automatically.

Scorecard

13 verification and enforcement checks, scored from the table below.

Manual spreadsheets

0 / 13 built in

0 yes, 4 partial, 9 no

Time per packet: 25 to 40 minutes per packet when done properly.

Pikorua Security

13 / 13 built in

13 yes, 0 partial, 0 no

Time per packet: About 15 seconds to read, then about 3 minutes of human sign-off on flagged results.

Capability by capability

Manual spreadsheets and Pikorua Security, row by row.

Verification, chasing and enforcement checks first, then time and cost. Each cell explains the score.

15 capabilities, side by side

  • Yes, built in
  • Partial or manual
  • No
Capability comparison: Manual spreadsheets versus Pikorua Security
CapabilityManual spreadsheetsPikorua Security
Reads ACORD 25 and ACORD 28 fields

Partial. Someone types dates, limits and policy numbers into a row by hand, and rows go stale between renewals.

Yes. Limits by line, policy numbers, dates, insurers and certificate holder, extracted in about 15 seconds.

Reads attached endorsement pages

No. Endorsement PDFs get filed with the certificate. Reading them is a separate job that rarely happens.

Yes. Deep OCR on every attached form, with the form number and edition read from the page footer.

Validates ISO edition dates

No. Edition dates sit in the form footer and never reach the spreadsheet.

Yes. Compares 11 85, 10 01, 07 04 and 04 13 editions with the edition your exhibit allows.

Detects missing CG 20 37 completed operations

No. The ADDL INSD column on the ACORD 25 shows a Y whether or not CG 20 37 is attached.

Yes. Requires CG 20 37 or equivalent completed operations wording whenever the exhibit calls for it.

Flags limiting exclusions (CG 21 39, CG 22 94, CG 21 44)

No. Exclusions appear in the policy's forms schedule, which nobody requests.

Yes. Flags CG 21 39, CG 24 26, CG 22 94 and CG 21 44 wherever they appear in the packet.

Verifies waivers of subrogation (CG 24 04, WC 00 03 13, CA 04 44)

Partial. The SUBR WVD column gets a checkmark in the sheet; the form and the named party go unverified.

Yes. Checks the form and the party it names on general liability, auto and workers compensation.

Confirms primary and non-contributory wording (CG 20 01)

No. Primary and non-contributory wording is on the endorsement or in the policy, not on the front page.

Yes. Verifies CG 20 01 or equivalent wording against the tier the vendor's contract requires.

AM Best rating check (A- VII or better)

No. Each insurer has to be looked up by hand, and nobody repeats it at renewal.

Yes. Checks Financial Strength Rating and Financial Size Category on every packet.

Chases the vendor and its retail insurance agent

Partial. The PM emails the vendor, the vendor forwards to its agent, and the thread averages 28 days.

Yes. One deficiency checklist to the vendor and its agent, with a zero-login upload link.

Renewal cadence

Partial. Conditional formatting turns a cell red; someone still has to notice it and act.

Yes. 60, 30, 15 and 0 days before expiration, automatically.

Payment holds in Procore, CMiC, Yardi or AppFolio

No. Accounting has no link to the sheet, so deficient vendors keep getting paid.

Yes. Places and releases holds through the connector as documents fail or verify.

Jobsite and building access control

No. Site and building access are managed separately from insurance status.

Yes. Locks Openpath or Brivo badges for deficient vendors on Enterprise.

Audit trail for tender defense

No. Proving what was checked, and when, means searching inboxes after the claim arrives.

Yes. Time-stamped verification log, every document version and the exhibit, exported as one packet.

Reviewer time per COI packet

25 to 40 minutes per packet when done properly.

About 15 seconds to read, then about 3 minutes of human sign-off on flagged results.

Annual cost at 150 vendors

About 600 reviewer hours a year, roughly $27,000 in loaded PM time.

$8,388 a year on Professional, plus about 79 reviewer hours (about $3,550).

Cost of approach

The cost of each approach, in hours and dollars.

Move the sliders to match your vendor count and review time. The model, its assumptions and its sources are listed under the results.

Your inputs

150

Subcontractors, suppliers or carriers that send you COIs in a year.

33 min

CFMA Time Study: 25 to 40 minutes per COI and endorsement packet.

$45/hr

A $45 loaded project manager hour is the default.

Estimated annual cost

Manual spreadsheets

$27,074

602 hours of your team's time. $27,074 in staff time.

Pikorua Security

$11,939

79 hours of your team's time. $3,551 staff time + $8,388 Professional plan.

Hours returned to your team
523
Annual difference in Pikorua Security's favor
$15,136
How this is calculated
  • Each vendor sends 2 packets a year (initial COI and one renewal). 71% of packets are deficient on first review (AGC Risk Committee Audit), and each deficient packet is reviewed again when the correction arrives.
  • Every packet is read in full by a PM or project admin.
  • Each defective packet takes about 90 minutes of email and phone follow-up across the vendor, its agent and the PM.
  • Pikorua Security reads each packet automatically; a person spends about 3 minutes signing off flagged results and about 15 minutes on escalations per defect. Broker chasing runs on the 60, 30, 15 and 0 day cadence.
  • Plan by vendor count: Starter up to 75 ($3,588 a year), Professional 75 to 300 ($8,388), Enterprise above 300 (from $16,800).

What a spreadsheet actually tracks

A COI spreadsheet usually has a row per vendor and columns for the insurer, policy numbers, each limit and each expiration date. Every value is copied by hand from the ACORD 25 front page. That page is a summary prepared by the vendor's insurance agent, and it says so: the form states it is issued as a matter of information only and confers no rights upon the certificate holder.

The coverage that protects you lives in the endorsements attached to the vendor's policy. Whether you are an additional insured for completed operations, whether the vendor's insurance is primary and non-contributory to yours, and whether the carrier has waived subrogation against you are all questions the spreadsheet has no column for. The ADDL INSD and SUBR WVD columns on the certificate are single letters, and a Y in either tells you nothing about which form is attached or which edition it is.

That is why spreadsheet tracking misses roughly 70% of endorsement defects even when every row is accurate. Pikorua Security reads the endorsement pages themselves and verifies them at 99.4% accuracy across ISO forms.

Where the 71% defect rate hides

The AGC Risk Committee Audit puts the share of subcontractor and vendor COIs with a material deficiency on first review at 71%. Pikorua Security's 2026 benchmark breaks that down by category (a file can have more than one), and the breakdown explains why spreadsheets catch so little of it.

The two categories a spreadsheet handles well, low limits and expiration dates, are the smallest on the list. The three largest endorsement categories sit on pages the spreadsheet never records.

  • Missing CG 20 37 completed operations: 64% of deficient files. Invisible on the front page.
  • Named insured mismatch: 48%. Visible only if the reviewer compares the certificate with the subcontract's legal entity name.
  • No waiver of subrogation (CG 24 04 or WC 00 03 13): 41%. The SUBR WVD column can show a Y without the form.
  • Primary and non-contributory wording absent: 37%. Only on the endorsement or in the policy.
  • Limits below the contract exhibit: 29%. Visible, and usually caught.
  • Expired or expiring within 30 days: 22%. The one thing spreadsheets are built to catch.

What the spreadsheet costs a $50M contractor

Take a commercial general contractor with $50M in annual volume and 150 active subcontractors a year. At a 71% defect rate, about 106 of those subcontractors have a material coverage problem in their files. Reviewing and chasing them by hand takes about 4 hours per subcontractor per year across the initial review, renewals and follow-up, or 600 hours in total. At a $45 loaded hourly cost for a project manager, that is $27,000 a year in administrative payroll, spent mostly on work that still misses the endorsement defects.

The larger number is the exposure. When a subcontractor's carrier denies an additional insured tender, the general contractor's average out-of-pocket litigation and SIR loss runs $150,000 or more, according to IRMI construction risk analysis. One denied tender costs more than a decade of COI software.

Pikorua Security Professional costs that contractor $8,388 a year. It recovers about 520 of the 600 administrative hours, verifies every endorsement against the subcontract exhibit, and holds payment through the Procore, Yardi or AppFolio connector until deficiencies are fixed.

Moving off the spreadsheet in a week

You do not have to rebuild anything. Export the spreadsheet as CSV and Pikorua Security maps the columns to vendor records, matching names to your ERP or project management vendor list. Upload your subcontract or vendor insurance exhibit and the rule builder turns each requirement into a check, from limits and AM Best thresholds to required forms and editions.

Then send every vendor a zero-login upload link copied to its insurance agent. Pikorua Security reads each returned packet in about 15 seconds, flags what fails, and chases the gaps on a 60, 30, 15 and 0 day cadence. Most teams retire the spreadsheet inside the 14-day free trial.

Questions

Questions teams ask before they switch.

Can Pikorua Security import our existing COI spreadsheet?
Yes. Upload a CSV or Excel export and Pikorua Security maps vendor names, policy numbers, limits and expiration dates into vendor records. Imported rows stay marked unverified until the vendor's actual certificate and endorsements are read, so nothing is treated as compliant just because a cell said so.
Is a spreadsheet good enough for a small contractor?
If you hire fewer than five subcontractors a year and your contracts do not require specific endorsements, a careful spreadsheet plus reading each endorsement page yourself can work. Once you require additional insured status for completed operations, waivers or primary and non-contributory wording, the spreadsheet stops being the check and becomes a list of dates. Starter covers up to 75 active vendors for $299 a month billed annually.
Does Pikorua Security replace advice from our insurance broker or counsel?
No. Pikorua Security is software that verifies documents against the requirements in your contracts. It does not provide legal advice, is not an insurance agency or broker, and does not sell, bind or underwrite insurance. Your broker and counsel still set the requirements; Pikorua Security checks every vendor against them.

14-day free production trial

Stop letting non-compliant vendors expose your balance sheet.

Upload your current subcontractor COI files. Pikorua Security shows you every hidden coverage defect in 10 minutes.