TPA audits
If your firm delegates its claims management to a Third Party Administrator (TPA) it is critical that you monitor your TPA to ensure compliance both with FSA regulations and the parameters you have set. ICS offers an accurate and impartial TPA audit service to Lloyd’s managing agents and underwriters; the service complements your firm’s own internal audit processes while offering a robust external source of assurance.
For more information about the ICS TPA audit service please call us on 01892 539600 or email us at: enquiries@insurancecompliance.co.uk
ICS is experienced in:
- Analysis of management information data within a claims experience
- Assessing the accuracy of the incurred position and trends
- Reviewing a selection of claims within portfolios to assess performance
- Undertaking a complete reconciliation exercise across every claim
- Reviewing technical capabilities (as evidenced by claim files)
- Undertaking strategic analysis to ensure alignment with a client’s corporate strategy and philosophies within the claims area
ICS provides a totally impartial service which recognises the dynamics and objectives of individual business areas. We aim for total transparency by establishing up front an agreed methodology, format and timescales and by liaising with the client throughout the process including face to face debriefing with individuals and senior management.