Services

 

Premium Audit Services

ISG utilizes easy to follow audit reports that can be customized based on customer criteria. The ompleted audit report can be sent as a PDF, which includes all pertinent imaged records, allowing for a “paperless” product.

All audits are reviewed for content and accuracy, and audit programs can be tailored to customer needs. Commitments to superior customer service and response time are priorities for ISG. We understand that the premium audit business can, at times, be a “problem” business.

Our success is driven in part by ISG’s view that our field representatives are as much public relations resources as they are auditors, ensuring the highest level of service available in the industry.

Physical Audits

ISG requires auditors to complete all physical audits on-site. A full understanding of the operations and job duties of the employees is critical to the successful and accurate completion of an audit, and our auditors place a high value on this part of the audit process.

Because of the nature of their industry training, ISG auditors are skilled at evaluating financial statements and the general ledger to ensure all possible exposure sources are identified.

A full exit interview is conducted with the insured prior to concluding the audit to ensure accuracy, and this helps to avoid most potential disputes after completion of the audit.

Telephone Audits (in states where permitted)

Telephone Audits are conducted on a variety of small to mid-sized policies. ISG utilizes experienced auditors to conduct all Telephone Audits.

Policyholders are contacted via phone to set a day and time convenient for the insured, and all pertinent information required for completion of the audit is provided to the insured in advance of the audit to ensure an efficient process.

Mail/Voluntary

Mail/Voluntary Audits are conducted on a variety of small to mid-sized polices. ISG utilizes experienced auditors to conduct all Mail/Voluntary Audits. Policyholders are contacted via letter requesting all pertinent information required for completion of the audit.

The audit is then conducted using the records supplied by the insured. A follow-up call is required to verify information contained in the records and to request any additional information needed to complete the audit.

Dispute Resolution

There are circumstances that make some disputes unavoidable at times. ISG has the capability to handle all facets of the dispute resolution process, from receipt of statement of dispute to final determination based on carrier guidelines.

This service can be provided on a permanent or temporary basis as needed. Disputes are handled quickly, and a determination is provided to the policyholder in writing outlining the final outcome.

Expert Witness Services

Most audit disputes are able to be handled without the intervention of the legal system. Some issues are more complicated or more contentious, and can require litigation. ISG has the resources to provide Expert Witness services in these situations specific to the overall premium audit process or to a particular audit.

In these cases, there is a significant amount of time, energy, and money invested in the process. If you are in need of an independent opinion to help you evaluate your options, or if your situation calls for an industry expert to help with your case, ISG can help.

Special Investigations Unit (SIU) Services

The SIU department is a critical component to the overall premium audit process in the ongoing battle to identify all potential exposure sources for a policyholder. This “forensic” audit function serves to identify and appropriately deal with issues of premium evasion and fraud.

Not all insurance carriers have the resources or structure in place to operate a dedicated SIU unit. ISG has the capabilities to assist in the initial set up of an SIU unit, streamline processes and procedures, handle individual SIU audit cases, or act as the SIU unit, depending on the level of need. ISG has the resources and contacts necessary to efficiently handle any SIU needs.

Premium Audit Review

ISG’s review staff has the experience and expertise to handle any level of audit review. The premium audit process provides a number of opportunities for errors to be made, or miscommunications to take place, resulting in an incorrectly completed audit.

The review process is instrumental in identifying and correcting those errors. Our staff is trained to identify these potential issues, from classifications, overtime, pre-tax amounts, and calculation errors, to more wide ranging issues such as a disconnect between the description of operations and the audited exposures and large variances between the anticipated and audited exposures.

These services can be provided on a permanent basis or temporarily based on need.

Classification Inspection

Determining the appropriate classification for a policy can be a difficult task. Understanding the insured’s operations, what processes are used, the raw materials involved, and end use of a product are key elements in the classification assignment process. ISG offers an extremely through and detailed report utilizing its expertise in various industries as well as NCCI and PAAS reference materials to provide an accurate classification recommendation.

Consulting

The consulting services offered by ISG apply to all aspects of Premium Audit processing, including workflow management, review processes, documentation procedures, etc.