Risk & Compliance Solutions
Premium Audit
Robust Premium-Audit Surveys
Dive into the future of insurance premium verification with our advanced Premium-Audit Surveys. Our platform isn’t just user-friendly – it’s a revolution. By leveraging industry-standard exposures for admitted coverages, we provide an interface that isn’t just about ease but efficiency. In an industry that demands precision, our robust system ensures that every premium is verified with the utmost accuracy, giving insurers the confidence and clarity they need to move forward.
Intuitive Workflow
Our Premium Audit simplifies the audit process into an intuitive, step-by-step workflow. Each section saves automatically upon completion, allowing users to easily verify premiums while making use of industry-standard exposures for admitted coverages.
Seamless Integration
Integrate Premium Audit with your existing tools to strengthen your organization. Synchronize all your survey data within the Loss Control ecosystem and take advantage of various interconnected tools. Alternatively, you can integrate it with the business solution you prefer.
Verified Premiums
We designed Premium Audit specifically for carriers to verify premiums using a step-by-step module that harnesses industry-standard exposures for admitted coverages. Carriers can then access a comprehensive breakdown of audit details, including calculated exposures, employee details, payroll verification, claims, and more. The workflow is intuitive and straightforward, with distinct sections that save automatically when finished.
A Robust Ecosystem of Loss Control Solutions
Robust Rules Engine
- Identify policies requiring audit with the most configurable solution, recommending either a virtual or physical audit based on risk characteristics.
- Easy to use, step-by-step workflow with defined sections that auto-save upon completion.
- Configurable feature-set allows you to fit your business model.
Report Summaries and Templates
- Report summaries provide up-to-date and verified coverage information that can be shared with underwriters and policyholders.
- Upload templates to eliminate the need for manual entry of large data sets.
- 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 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
