Risk & Compliance Solutions
Premium Audit Software
Intelligent Premium-Audit Surveys
Step into the future of insurance premium verification with our AI-enhanced Premium-Audit Surveys. More than just user-friendly, our Premium Audit Software is built on intelligent technologies that transform traditional processes into data-driven, automated workflows. By leveraging machine learning and industry-standard exposure data for admitted coverages, our insurance premium audit platform delivers unmatched precision and efficiency. The system intelligently analyzes inputs, flags anomalies, and ensures every premium is verified with accuracy and speed—empowering insurers with actionable insights and greater confidence.
Intuitive Workflow
Premium Audit simplifies the process with an intuitive, auto-saving workflow that streamlines premium verification using industry-standard exposures. With internal logins now enabled at each customer site, user activity is tracked in detail—enhancing accountability, security, and operational oversight.
Seamless, AI-Driven Integration
Elevate your Premium Audit capabilities with intelligent integration across your existing systems. Completed audit results flow directly into Majesco Policy and Billing, so findings move straight into downstream rating, billing, and underwriting decisions with less manual follow-up and faster action on what changed. Powered by AI and advanced analytics, it connects effortlessly with your preferred business platforms—creating a unified, intelligent workflow that strengthens operational efficiency and audit accuracy.
Verified Premiums with Intelligent Precision
Built for carriers, our Premium Audit module uses AI and data-driven logic to verify premiums with speed and accuracy. Intelligent algorithms analyze exposures, payroll, claims, and employee data—delivering a clear, auto-saved audit breakdown. With smart automation and intuitive workflows, carriers gain faster insights, streamlined validation, and smarter underwriting decisions.
A Robust Ecosystem of Loss Control Solutions
Robust Rules Engine
- Automatically identify policies requiring audit using a highly configurable engine that recommends virtual or physical audits based on dynamic risk profiles and predictive analytics.
- Intuitive, step-by-step interface with auto-saving sections—streamlining the audit process with intelligent prompts and real-time data validation.
- Adapt the feature set to align with your business model, leveraging AI insights to optimize audit strategies and operational efficiency.
Report Summaries and Templates
- Generate up-to-date, verified coverage insights using intelligent automation with our premium audit platform —ready to share with underwriters and policyholders for faster decision-making.
- Eliminate manual data entry by uploading templates that leverage AI to structure and validate large datasets instantly.
- Deliver custom reports and recommendation letters to your underwriters at the click of a button reducing costs and improving turnover time.
Regulatory and Industry Standard Exposures
- Leverage industry-standard NCCI exposures enhanced by AI to ensure accurate premium calculations for admitted coverages.
- Calculate state-by-state premiums using standard NCCI exposures or design your own set of rules.
Featured Resources
Press
Digital Underwriting and Loss Control Solutions Top List of Investment Priorities for Insurers
New research shows an increased focus on risk management strategies and solutions Morristown, NJ – June 23rd, 2022 – Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced the availability of a new report, Underwriting and Loss Prevention: Tackle Rising Insurance Costs with Enhanced Customer Experience Leading to Improved…
Podcast
Rethink Risk with Loss Control
Join Denise Garth and PLM’s Erin Selfe for a deep dive on loss control. This podcast covers how the shifting risk environment is impacting insurers, how to cost effectively look at the broader portfolio to assess risk, how technology can help you focus on high-risk areas, and how loss control can add value to the…
FAQ
Premium Audit software enables insurance companies to verify their workers compensation premiums by calculating the amount of exposed payroll an employer has had over the previous year. This is done by comparing an employers estimated payroll vs actual payroll at the end of the policy year.
Founded in 1923, the mission of the National Council on Compensation Insurance (NCCI) is to foster a healthy workers compensation system. In support of this mission, NCCI gathers data, analyzes industry trends, and provides objective insurance rate and loss cost recommendations
