Outsourced internal audit
Case studies
How we were able to provide our client, a small personal lines insurer, with a tailored service that met their audit requirements
The background
Our client was a small personal lines insurer, looking to outsource aspects of their internal audit process.
Our solution
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We agreed a proportionate 3-year rolling audit plan covering all the in-scope areas.
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We engaged pragmatically with the business, tailoring our approach to be proportionate to the size and nature of their operations.
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We worked collaboratively with the function areas we were reviewing to discuss and agree necessary improvements and sought their buy-in to timescales.
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We provided clear and concise reporting, providing assurance and recommendations to the board.
The results
We were able to provide our client with a tailored service that met their audit requirements. They particularly appreciated our collaborative approach to agreeing management actions.
LCP InsurSight is an analytics and automated trend identification tool for general insurance companies.
We work with insurers to help them better understand and manage the risks they face and their capital requirements.
We help our insurance clients to develop strong links between their strategy, capital management and risk management processes, improving their chances of business success.
Our business-focused approach to validation can help you be confident that your insurance models are robust, and that you are meeting regulatory requirements.