Leavitt Group, the seventh largest independently held insurance brokerage in the US, expects that use of the Compliance Management System could lower a user’s risk profile to qualify for lower insurance rates.
ReposiTrak, a wholly owned subsidiary of Park City Group, helps manage regulatory, financial and brand risk associated with issues of safety in the food and dietary supply chains.
The platform consists of two systems: Compliance Management, which receives, stores and shares documentation and manages compliance through dashboards and alerts for missing or expired documents; and Track & Trace, which identifies product ingredients and their supply chain path in the event of a product recall.
Randall K. Fields, chairman and CEO of Park City Group, said: “We firmly believe that better compliance and visibility means lower risk; lower risk means lower premiums, and that could make ReposiTrak cost neutral before considering its other benefits.
“Importantly, companies taking advantage of the Leavitt insurance advisory service can do so without changing their current insurance brokerage relationship.”
Eric Leavitt, CEO of Leavitt Group, said it and ReposiTrak are in the business of reducing risk and rewarding compliance.
“We’re confident our partnership will deliver a myriad of benefits to our mutual clients.”