Are your operations due for some Spring Cleaning? It’s never a bad time to make sure your insurance operations are in order and ready to face an internal audit or market conduct exam. A little Spring Cleaning, in the form of a compliance audit, can help a company avoid fines, cease and desist actions or even loss of license.
Let Perr&Knight’s consulting team help you identify and correct compliance risks. If you’re looking for a full-scale review, our team of regulatory compliance professionals and operational and technology consultants will assess your current operations through a combination of staff interviews and documentation review in each of the NAIC’s seven areas of operation: operations/management, complaint handling, marketing and sales, producer licensing, policyholder service, underwriting and rating, and claims. We’ll draft “as is” process maps that document your current processes and use them to identify compliance risks and process inefficiencies. Then, based on our extensive subjective matter expertise and knowledge of best practices, we’ll draft “to be” process maps with proposed solutions for closing gaps and streamlining processes in a compliant manner. In addition, we can support you as you implement changes to processes.
If you’re looking for a more targeted review to help remedy a risk or compliance gap that you’ve already identified, Perr&Knight can help. Our regulatory compliance consultants can perform a more limited analysis, such as a compliance audit of a single area of operation, a sample file review of claims and/or policies, a rate manual compliance review, a certificate of authority inventory, etc. We will customize our services to meet your needs.
Contact us online or give us a call today to discuss how Perr&Knight can help you!
+1.888.201.5123 ext. 3 // www.perrknight.com