ReSource Pro has introduced Premium Audit Complete, a solution aimed at streamlining the audit process for insurance carriers and managing general agents (MGAs). This offering leverages the 35+ years of premium auditing expertise from Lowry & Associates, acquired by ReSource Pro in 2024, and integrates it with ReSource Pro’s advanced technology and operational strengths.
Premium Audit Complete delivers a fully integrated, end-to-end service that enables carriers and MGAs to optimize premium collection, improve operational efficiency, and ensure compliance with industry standards—while enhancing profitability and fostering stronger relationships with policyholders. This comprehensive approach empowers carriers and MGAs to align premiums with actual risks, ensuring fairness, accuracy, and profitability.
“Premium Audit Complete empowers carriers and MGAs to validate exposures, maintain compliance and deliver exceptional service to their policyholders in a very competitive market,” said Ernie Feirer, Senior Vice President, Carrier Practice at ReSource Pro.
Key features of Premium Audit Complete include:
- Comprehensive Audit Services: Performs voluntary, phone, onsite and virtual audits to ensure accurate reviews of policyholder financial data, including payroll, sales, and classification codes.
- Downstream Processing: Manages audit endorsements, QA/QC, and carrier system integration to eliminate bottlenecks and delays.
- Enhanced Efficiency: Reduces backlogs and accelerates processing times, enabling carriers to focus on growth and client service.
- Regulatory Confidence: Maintains compliance with industry standards and fosters trust with policyholders through high-quality, accurate audits.
- Scalability and Innovation: Utilizes ReSource Pro’s BPM expertise to provide a scalable, tech-enabled solution adaptable for carriers of all sizes.
Premium Audit Complete addresses the insurance industry’s pressing challenges of premium leakage and misclassification, which cost carriers billions annually, including an estimated $4.5 billion in lost premiums due to misclassification and inaccurate estimates of exposure, according to Verisk.
To learn more about Premium Audit Complete visit ReSourcePro website here.
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