End-to-end internal audit and internal controls compliance for insurance — claims audit automation, underwriting review workflows, multi-jurisdiction audit management, and actuarial model governance.
Insurers face complex audit and compliance challenges across claims, underwriting, actuarial, and regulatory functions — demanding specialized internal audit capabilities.
Insurance claims involve complex workflows spanning initial reporting, investigation, adjustment, and settlement. Auditing claims processing requires tracing transactions across multiple systems, validating reserve calculations, and identifying patterns of leakage, fraud, or procedural non-compliance at scale.
Underwriting decisions must adhere to pricing guidelines, risk appetite frameworks, and regulatory requirements. Gaps in underwriting compliance — from unauthorized exceptions to inadequate documentation — can lead to adverse selection, regulatory findings, and significant financial exposure.
Insurance companies operating across multiple jurisdictions face diverse regulatory examination requirements, reporting standards, and supervisory expectations. Coordinating audit activities and maintaining compliance documentation across regions creates significant operational complexity.
Actuarial models drive critical business decisions on pricing, reserving, and capital adequacy. Ensuring adequate governance, validation, and audit coverage of these models — including assumption setting, data quality, and model change management — is a growing regulatory expectation.
Purpose-built audit and internal controls capabilities for insurance companies — from claims audit automation to board-level reporting.
Automated audit programs for claims processing — from initial notification to settlement. Detect claims leakage, fraudulent patterns, reserve inadequacies, and procedural non-compliance across your entire claims portfolio.
Structured underwriting audit workflows that assess adherence to pricing guidelines, risk appetite, authority levels, and documentation standards. Identify unauthorized exceptions and compliance gaps systematically.
Centralized management of audit activities across multiple regulatory jurisdictions. Coordinate audit plans, track jurisdiction-specific requirements, and consolidate findings into unified reporting frameworks.
Comprehensive governance framework for actuarial models — covering model inventory, validation workflows, assumption documentation, change management, and independent review. Meet evolving regulatory expectations for model risk management.
Centralized tracking of all audit findings, recommendations, and management action plans across insurance operations. Automated escalation, deadline management, and remediation validation ensure issues are resolved on time.
Board-level audit dashboards and reports tailored for insurance governance — covering audit plan progress, key findings, remediation status, regulatory examination readiness, and emerging risk themes.
Comprehensive audit support for Solvency II requirements, including own risk and solvency assessment (ORSA), pillar reporting, governance system evaluation, and internal model validation.
Alignment with International Association of Insurance Supervisors core principles on governance, risk management, internal controls, and supervisory review processes for insurance entities.
Audit and internal control support for IFRS 17 Insurance Contracts implementation, including contract classification, measurement model validation, and disclosure requirements.
Full compliance with IIA standards as applied to insurance operations, including specialized guidance for auditing underwriting, claims, reinsurance, and investment functions.
Configurable compliance with jurisdiction-specific insurance regulatory authority requirements, on-site examination standards, and supervisory reporting obligations.
Support for insurance corporate governance code requirements, including board audit committee oversight, internal audit independence, risk management frameworks, and control assurance.
See how our Audit & ICC platform can transform your insurance internal audit function with claims automation and multi-jurisdiction audit management.