Best Practices for Premium Audit Processes: Maximizing Efficiency and Communication

1. Premium Audit Collections Best Practices Hosted by: InsightSolutions Website: www.myinsightsolutions.com Moderator: Patrick J. Connolly, M.S. Ed. Title: Director of Operations

2. 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

3. 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

4. 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

5. 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

6. 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?

7. 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

8. 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

9. 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

10. 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

11. 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

12. Best Practices for Successful Collections Open Forum

13. Thank You Question and Answer Session www.myinsightsolutions.com