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For Mutual Insurers

Home, Auto, and Farm Insurance – Underwriting & Claims Audits

Our specialists are subject-matter experts in multiple fields and disciplines. Underwriting and claims audits span a diverse range of personal and farm portfolios. We offer either standard or tailored scopes of work which can include a multi-disciplinary approach to tools, wordings or staff. Technical and operational strengths and weaknesses are identified to determine problematic patterns against opportunities and threats. We focus on fixing the root cause and not just symptoms but more importantly, we start the dialogue to understand circumstances, resolutions, and likely outcomes of proposed recommendations.

  • In-depth understanding of home, auto, and farm insurance markets and regulations
  • Thorough identification of key risk exposures and inefficiencies
  • Technical expertise in personal lines and farm insurance underwriting and coverages
  • Claims management experience handling home, auto, and farm claims
  • Measurement of strengths and weaknesses to drive effective cost-efficient change

Commercial Insurance – Underwriting Audit and Training

Drawing on the experience of seasoned commercial insurance experts, we provide strong commercial insurance training based on the results of the commercial lines portfolio. The audit provides feedback into areas of risk that a mutual insurer may wish to mitigate, transfer, or remove, to ensure more profitable results. Our commercial insurance experts work with the underwriting manager and underwriters to understand where training, wording improvements, and operational changes can offer better risk selection and portfolio management. We encourage clear and concise communication; ensure scope of work matches required outcomes; and engage in open discussions around audit findings to generate underwriting improvements. Addressing difficult questions and tough messages is common for us. With continuous improvement as a common goal, we want to help strengthen relationships among underwriting, sales, and customers. Our specialists relate to all levels of the organization and our value is the unique talents and technical expertise our team of specialists bring:

  • In-depth understanding of commercial insurance markets and processes
  • Thorough identification of key risk exposures and inefficiencies
  • Measurement of strengths and weaknesses to drive effective cost-efficient change
  • Creation of alternate solutions with innovative thinking
  • Technical expertise in various disciplines and specialties
  • Independent and objective advice and perspective at all levels of the organization

Strategic and Operational Reviews

The status quo may currently be the right solution but looking forward this may not always be the case. Competitors may change their game plan, or the marketplace may be going through upheaval which requires strategic rethinking. Changes to insurance distribution, marketing, expanding purchase options along with consolidation of industry players may seriously affect your strategic plans. To keep up-to-date and competitive, annual reviews may be required to consider:

  • Determine the need for a strategic review to ensure the best path forward
  • Acquiring additional staff or training existing staff to be more effective
  • Considering new data systems, procedures, markets, or products
  • Looking to implement best practices, standardizing policies and procedures

Our team has experience working for and consulting with stock and mutual insurers in addition to insurance agency and brokerage operations. We can help prioritize and focus internal ideas and can inject external ideas. Not only have we seen what works well in the insurance community but more importantly, we know what does not work. Let us share that knowledge!

Sales Training and Brokerage Relations

Whether working with brokerages and/or internal agent staff, quality and volume of business written is the lifeblood of a mutual. The profitability depends on producing good business and maintaining high standards. In addition to underwriting and claims expertise, our specialists have experience as insurance producers, brokerage managers, and insurance company sales/marketing staff. They can assist with determining the best approach to:

  • Reviewing and providing training needed to enhance production efforts
  • Acquiring additional sales staff and expanding into new markets
  • Improving broker relationships by communicating target business and required risk management details
  • Introducing new products or enhancing existing wordings to attract and impress current and new clientele
  • Attracting and establishing new broker relationships

Custom Consulting Services

We help our clients be their best by:

  • Providing an impartial or expert opinion, or specialized experience to move a project along
  • Closing knowledge gaps arising from new systems or processes, or even the loss of a key employee
  • Answering underwriting and risk management questions on an ad hoc basis

Our network of independent insurance specialists provides a wealth of experience at your fingertips, removing the need to recruit, hire, or add permanent staff to get you over the hump. We fill the gaps.

Custom Consulting Services & Training

With a wealth of experience at your fingertips, independent insurance specialists provide an impartial or expert opinion to move insurance and risk management projects along.

Custom Consulting Services & Training

With a wealth of experience at your fingertips, independent insurance specialists help you get over the hump, fill the gap, or help out until you find an expert of your own.

Underwriting & Claims Technical Audits

With subject-matter experts in multiple fields and disciplines, technical underwriting & claims file audits span a diverse range of portfolios.

Custom Consulting Services

Be your best with an impartial or expert opinion to move projects forward, assist with new system implementations, or discuss risk management, claims, and underwriting questions with an impartial third party.

Sales Training and Brokerage Relations

With a wealth of underwriting, claims, and intermediary experience, independent insurance specialists help mutuals achieve volume targets with sales training focused on building broker relationships.

Strategic and Operational Reviews

With decades of experience working for and consulting with stock and mutual insurers in addition to insurance agency and brokerage operations, NICExperts help prioritize and focus internal ideas to improve operating efficiencies.

Commercial Insurance – Underwriting Audit and Training

With a wealth of underwriting and claims experience, commercial insurance training is customized to commercial lines portfolio results. Audit results help focus training, wording, or operational changes to offer better risk selection and portfolio management.

Home, Auto, and Farm Insurance – Underwriting & Claims Audits

With subject-matter experts in multiple fields and disciplines, technical underwriting & claims file audits span a diverse range of personal and farm portfolios.

Part of the Team

Call us to supplement your insurance or risk management tea, discuss alternate insurance solutions, design or implement new insurance systems, or help implement insurance best practices.

Enterprise Risk Management Reviews

Quick Summary: With the ability to work with any insurer or intermediary on your behalf, NICExperts help identify, understand, and analyze risk exposures to discuss appropriate and cost-effective controls including insurance and non-insurance solutions.

Commercial Insurance Services

With no strings attached and no capability to place your insurance, NICExperts arrange remote or on-site visits to assess potential risk exposures or review contracts, policies, or wordings.

Operational & Enterprise Risk Management Reviews

With decades of experience working for and consulting with reinsurers, insurers, MGAs, and brokerages of all sizes, NICExperts bring fresh ideas to improve delegated authority and internal operating efficiencies.

Navigating Delegated Authority

Taking on delegated authority operations for the first time requires proper balancing of existing operations against new contractual requirements. A well-researched plan saves time, money, and effort in the long run.

Peer Review & Agency Audits

Design and implementation of, and training on internal or delegated authority audits independently or as partners of the agency's own team.

Insurance Audit Services

With the goal of continuous improvement, peer review or internal audit programs focus on clear & concise communications to work within existing best practices. Standard or tailored scopes of work handled remotely or on-site, are available in English or French. Licensed professionals familiar with local regulation are available on request.

Custom Consulting Services

With a wealth of experience at your fingertips, independent insurance specialists help you get over the hump, fill the gap, or help out until you find an expert of your own.

Expert Witness

Fact-based opinions are measured against relevant and appropriate professional, regulatory, and industry standards to assess technical and operational strengths and weaknesses.

Pre-Agency, Due Diligence & Run-Off Reviews

Focus is to work with onboarding teams to ensure early success before delegated authority partnerships begin or when contract changes require follow up review.

Operational Reviews

With decades of experience working for and consulting with reinsurers, insurers, MGAs, and brokerages of all sizes, NICExperts bring fresh ideas to improve delegated authority and internal operating efficiencies

Bordereaux & Reporting Reviews

Focus is on bordereaux trends, outliers, premium funds tracking, claims fund management, and satisfactory reporting requirements. Custom reviews and beta testing is available for on-line systems

Agency Compliance Reviews

Compliance reviews focus on corporate ownership, company policies, and testing of regulatory, legal, tax, and licensing oversight.

Peer Review and Agency Audits

The most comprehensive reviews can include a mix of multiple functional areas including company, compliance, underwriting, claims, operations, IT, bordereaux, and accounting.

Insurance and Audit Services

With continuous improvement and relationship building as a common goal, Delegated Authority or Internal Audits focus on clear & concise communications to generate open discussions about findings and resolutions. Standard or tailored scopes of work, remote or on-site, are available in English or French

Lloyd’s Coverholder & Third-Party Administrator (TPA) Audits

Focus is to work with onboarding teams to ensure early success before delegated authority partnerships begin or when contract changes require follow up review.

Lloyd’s Operational Reviews

With decades of experience working for and consulting with Lloyd's Managing Agents, Coverholders, DCAs, and brokerages of all sizes, NICExperts bring fresh ideas to improve delegated authority efficiencies.

Lloyd’s Bordereaux & Reporting Reviews

Focus is on bordereaux trends, outliers, premium funds tracking, claims fund management, and satisfactory reporting requirements. Custom reviews and beta testing is available for on-line systems.

Lloyd’s Underwriting & Claims Technical Audits

With subject-matter experts in multiple fields and disciplines, technical underwriting & claims file audits span a diverse range of portfolios.

Lloyd’s Compliance Reviews

Compliance reviews focus on corporate ownership, company policies, and testing of regulatory, legal, tax, and licensing oversight.

Lloyd's CH & Delegated Claims Administrator (DCA) Audits

The most comprehensive reviews include multiple functional areas including company, compliance, underwriting, claims, operations, IT, bordereaux, and accounting.

Lloyd’s Delegated Authority Insurance & Audit Services

With continuous improvement and relationship building as a common goal, Delegated Authority Audits focus on clear & concise communications to generate open discussions about findings and resolutions. Standard or tailored scopes of work, remote or on-site, are available in English or French.