Premium auditing is an insurance industry, focusing on premiums, or the price a consumer pays for insurance coverage.
A premium auditor will Investigate, examine, and reports on financial and operational analyzing characteristics to detect any possible fraud and to make sure laws and regulations are being followed so that the audit is completely as accurately as possible.
ESSENTIAL DUTIES & RESPONSIBILITIES
Responsibilities include the following:
Reviews company records to document and verify classification, operations, locations, and ownership of each named insured.
Investigates and verifies the premium base exposures according to policy contract terms, manual rules, company filings, and procedures.
Provides a written summary of audit information for processors to use to process the audit.
Complies with state regulations and company guidelines, and maintains working knowledge of all insurance manuals, premium audit manuals, and related material. Consistently remaining current on premium audit related rules and information.
Resolves audited earned premium discrepancies with insureds, agents, underwriting, and collections vendors.
Communicate with insureds and agents through written correspondence and telephone calls to gather information that could be needed for the completion of an audit.
Completing and transmitting audits in a timely manner, a daily quote is required to be met
Make referrals to underwriting on pertinent information found during the review process
Education and Experience:
Bachelor's degree (B. A.) from four-year College or university; or one to two years related experience and/or training; or equivalent combination. Background in General Liability Insurance Auditing preferred.