Audit service

We’re all measured by the way we handle claims. We need to be sure it’s being done properly and professionally. Lloyd’s minimum standards demand it. So does the Financial Services Authority (FSA). More than that, it just makes good business sense.

Audit programmes help us take a step back from our day-to-day work and look objectively at every aspect of the way we handle claims. Successful audits are about everyone working together to find the best way of doing things.

We offer a comprehensive service, not only a conventional technical audit, but a review of systems, processes and management controls. We help you review your  service providers, including panel solicitors, loss adjusters and cover holders. We assess the quality of advice you are receiving and the value that is added. We establish compliance with service level agreements and reserve adequacy. We will help you to look at your own systems and controls to identify and reduce leakage, and drive down life cycle times.

Key benefits

• Our team has a combination of legal and adjusting backgrounds, which makes our analysis deeper and more rounded
• The team’s understanding of what it’s really like to be in the service provider’s shoes means they can take a practical rather than theoretical approach
• We identify leakage and, therefore, reduce costs
• Through our audit and review service we can help you to minimise wastage
• From what we learn – we can help you review your process, develop your people and save you money

Key features

• We scope and discuss the auditing requirements, prior to commencing the work. It’s not an off-the-shelf product. Through a pre-audit meeting we identify aims and objectives, reporting format and content, costs and timing of the project. And we agree the sample size and type
• We appoint the services of an audit manager to liaise with you and the third party to ensure the audit delivers the stated aims and objectives
• We will help you understand and measure your own performance and that of your service providers
• We work in partnership with you
• We maintain an impartial and independent approach
• We understand the FSA regulations and Lloyd’s minimum standards
• We have experience and can advise in a pragmatic way
• We are communicative throughout the process
• We provide post audit feedback

For further information about our service, please contact Simon Hiscock on +44 1924 428724 or email simon.hiscock@cl-uk.com