Audit of a service provider in the insurance industry as part of a management delegation
Audit / Consultancy – INQUEST is carrying out an audit of the underwriting and claims management activities delegated to a broker by an insurer
As part of the management delegation of their activities, an insurer must carry out regular and documented checks on its service provider to meet prudential requirements and regulations. Our consultants’ task was to ensure that the external management of these activities complied with regulatory and contractual requirements (quality of management, meeting deadlines, etc.)
Involvement of INQUEST consultants:
Our consultants carried out the necessary checks to ensure compliance with the delegated areas of activity:
- Staff qualifications and training
- Internal controls and procedures
- Review of a selection of claim files to ensure the correct application of insurance policies.
Following this audit, our consultants issued a summary factual report highlighting the strengths, weaknesses and areas for improvement, making recommendations that are likely to be implemented by the service provider.