You strive to hire the best underwriters in the business. Don't let your underwriting processes get in their way. RGAX can help you review your processes to ensure they're also the best in the industry.
Underwriting can also be time consuming, and taking too long to complete the underwriting process can cost you opportunities. Conducting an underwriting process review can help identify inefficiencies in your new business process and help improve your turnaround times.
The primary objective of an underwriting audit is to identify factors in your underwriting decisions that could have a negative impact on your exposure to risk. We'll also look for adherence to underwriting requirements, treaty parameters, internal underwriting guidelines and underwriting administration.
We take auditing to a higher level than most firms by considering risk management at every step from new business to administration. Here's what our audits will cover:
Case sample selection
Appropriateness of risk assessment and classification of medical, financial, and non-medical risks
Adherence to internal underwriting guidelines, treaty parameters, published underwriting requirements, and prescribed processes
Substantiation of financial eligibility
Suitability of further medical, financial, and non-medical requirements
Adequacy of file documentation to support decisions made
Proper referral to the medical department or co-signer
Identify patterns of exception
Detailed report including case summaries
Trending and demographics charting
Training and development plans for underwriters with below standard audit scores or areas of concern
Our team of auditors have in-depth underwriting knowledge that spans across the life insurance and reinsurance industry. They know the right questions to ask and understand the downstream impact of various functions as they relate to your business. Our commitment to our clients shows in the way we deliver on our promises.
Our average delivery time for a complete audit report is three weeks once your audit is complete.
Our audits minimize disruptions to your operations because your staff won't need to take time away from the office.
We'll customize our timelines to ensure you meet your audit schedule.
As an independent reviewer, we will provide an unbiased, objective opinion based on current risk management and industry best practices.