Many reinsurers are aware that auditing their customers can greatly reduce and avoid costly mistakes; however they may be lacking the staff or time to perform these crucial audits. Tala Re has the staff and knowledge to offer these services. Our services include but are not limited to:
Contract compliance – verify treaty compliance and confirm adherence to underwriting guidelines and representations.
Reinsurance premium accounting – determine if reinsurance premiums and commissions have been correctly administered and validate, if the unearned reinsurance premium is collectable and correlates to the underlying policy data.
Claims handling – confirm responsibility of cedant as outlined in claims management philosophies, operations and systems and evaluate claim practices through review of amounts paid, settled, reserved and reported.
Implementation and recommendation – if we determine that one of the above issues is out of compliance with what was warranted to the reinsurer, we can identify this in a clear report and make recommendations of how to revamp the area of concern.
In house training – these training are absolutely necessary as good way to redress qualitative and quantitative issues both at ceding company and reinsurance company