Premium audit roles
Many regular users of PolicyCenter are underwriting personnel or producers. Although premium audits interest these users, the actual initiation and processing of premium audits is typically done by a separate premium audit department. The premium audit department might include in-office premium audit examiners, and outside premium auditors who travel to the policyholder’s location.
The default application contains audit roles as described in the following topics.
Premium auditor
PolicyCenter assigns an audit with a method of physical to a premium auditor. The premium auditor is a person who travels to the policyholder’s location to conduct the audit. The premium auditor returns that information to the insurer’s office. The premium auditor role can vary by insurer. For example, the auditor may be allowed to edit the audit summary and audit details. However, the auditor may not be allowed to complete the audit because a premium audit examiner needs to check it for accuracy.
Premium audit examiner
The premium audit examiner is located at the office of the insurer. The premium audit examiner enters the audit details for premium reports and final audits. The premium audit examiner checks physical audits for accuracy, calculates the premiums, and completes the audit.
If the final audit method is:
- Physical – The premium audit examiner receives the physical audit from the premium auditor and checks it for completeness and accuracy. The examiner also checks it for adherence to manual rules and guidelines of the insurance company. For example, does it include all the locations and entities? Does it split exposures for the anniversary rating date (ARD)?
- Voluntary – The premium audit examiner receives a completed report document from the policyholder. The examiner reviews the document prior to billing to ensure that the policyholder completed it properly. If necessary, the premium audit examiner calls the policyholder to clarify or amend the totals received.
- By phone – The premium audit examiner calls the policyholder to obtain audit exposures and ask questions appropriate to the audit or renewal.
Premium audit supervisor
The premium audit supervisor is a supervisor in the premium audit department. Premium audit supervisors have all the audit permissions. In addition the supervisor has access to team screens where outstanding audits and audit activities can be tracked.