Important Points

19 Important points to consider before you select a Premium Audit Professional

If you're thinking about hiring a premium audit company, ask yourself whether the consultant’s method is...

1. Effective. What proof do you have that their audit process works? Is it similar to other audits you've tried that have not worked? What will make it work this time if it hasn't worked before?

2. Dignified. Is the method built on statutory rules and regulations to assure you are compliant, and treat all parties in a respectful and professional manner?

3. Innovative. Will you gain a competitive advantage by using this auditor or auditing company? Are your competitors already using it? If your competitors are using it, will you be at a disadvantage if you do not?

4. Efficient. Is the method thought through so that it saves money?

5. Systematic. Is the premium audit process carried out in a straightforward, step-by-step manner? Or is the method scattered -- sort of hit and miss, without focus?

6. Prestigious. Does the method build your image as a professionally managed business? If you are an insurance company will the audit firm you select share your values and leave the type of impression you desire?

7. Desirable. Is the consultant's method what you really want? Or are they trying to persuade you to accept something you don't want, leaving you unsure or unsettled?

8. Interactive. Does the audit process used take specific steps to understand your business and get your feedback when needed?

9. Attractive. Does the work method sound appealing and a good fit for your company culture and values? Does it "feel right?

10. Time-saving. Does the audit process allow you to use your time and employee's time elsewhere more productively?

11. Credible. Does the method build or enhance your credibility as a professional organization? The annual audit is one of the few contacts an insurance company has each year with their policyholder, are you certain your audit company is making the impression you desire?

12. Comprehensive. Does the overall strategy profit from the synergy of several methods reinforcing each other? For example does the consultant balance premium savings with experience mod development?

13. Powerful. Will the method eliminate risk and reduce expenses for your company?

14. Productive. Does the method make your people more productive?

15. Persuasive. Does the method provide genuine help to your company?

16. Accountable. Does the method allow clear measurement of long term cost savings and effectiveness?

17. Profitable. Does the method show you a clear profit? Or does it simply make you busier, maybe not even paying for itself?

18. Selective. Does the culture of the consultant match the culture of your company?

19. Educational. Does the method help educate your employees so they understand potential problems and the solutions to ensure governance and risk control?