premium audit collections best practices
Download
Skip this Video
Download Presentation
Premium Audit Collections Best Practices

Loading in 2 Seconds...

play fullscreen
1 / 13

Premium Audit Collections Best Practices - PowerPoint PPT Presentation


  • 92 Views
  • Uploaded on

Premium Audit Collections Best Practices . Hosted by: InsightSolutions Website: www.myinsightsolutions.com Moderator: Patrick J. Connolly, M.S. Ed. Title: Director of Operations. Overview of the Premium Audit Process. Outline of how audits are typically completed Internally

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Premium Audit Collections Best Practices ' - auryon


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
premium audit collections best practices

Premium Audit Collections Best Practices

Hosted by: InsightSolutions

Website: www.myinsightsolutions.com

Moderator: Patrick J. Connolly, M.S. Ed.

Title: Director of Operations

overview of the premium audit process
Overview of the Premium Audit Process
  • Outline of how audits are typically completed
    • Internally
    • Externally
  • Scheduling process
  • Onsite processes
  • Quality Review
  • Return to Underwriting or Processing
what should you know upfront
What Should You Know Upfront?
  • Get started off on the right foot for collecting AP
    • The audit should be ordered close to the expiry date of the policy
    • Communicate with Underwriting to understand their processes for ordering audits and selection criteria
what should you know upfront1
What Should You Know Upfront?
  • Get started off on the right foot for collecting AP
    • The audit should be ordered close to the expiry date of the policy
    • Communicate with Underwriting to understand their processes for ordering audits and selection criteria
what should you know upfront2
What Should You Know Upfront?
  • Get started off on the right foot for collecting AP
    • The audit should be ordered close to the expiry date of the policy
    • Communicate with Underwriting to understand their processes for ordering audits and selection criteria
the completed audit
The Completed Audit
  • Completed and sent back to Underwriting
    • What does the carrier look for in the audit?
    • How does underwriting treat disputed audits?
    • What happens to uncooperative insureds?
what should you know upfront3
What Should You Know Upfront?
  • Get started off on the right foot for collecting AP
    • The audit should be ordered close to the expiry date of the policy
    • Communicate with Underwriting to understand their processes for ordering audits and selection criteria
what should you know upfront4
What Should You Know Upfront?
  • Get started off on the right foot for collecting AP
    • The audit should be ordered close to the expiry date of the policy
    • Communicate with Underwriting to understand their processes for ordering audits and selection criteria
what should you know upfront5
What Should You Know Upfront?
  • Get started off on the right foot for collecting AP
    • The audit should be ordered close to the expiry date of the policy
    • Communicate with Underwriting to understand their processes for ordering audits and selection criteria
best practices for successful collections
Best Practices for Successful Collections
  • Communication will improve collection process
  • Establish good communication between underwriting and collections
  • Automated solutions that greatly improve the premium audit process
    • Endorsing audit results onto current policy and adjusting estimates accordingly
best practices for successful collections1
Best Practices for Successful Collections

Best practices to handle the premium audit

process more successfully

  • Processing and billing an audit within 10 days for those without an automated billing system
  • Communicate negative trends to underwriting so they know what audits to set for RUSH handling
thank you

Thank You

Question and Answer Session

www.myinsightsolutions.com

ad