Audit, Accounting, and Risk Management
Investing in claim auditing services is a proactive and cost-effective way for a carrier to positively impact its bottom line. Providing services on an international level, the Claims Auditing practice covers virtually all lines of Property & Casualty Insurance, including environmental, mass tort, products liability, auto, construction defect, workers’ compensation, health care, professional liability, and commercial property. Our auditors average over twenty-five years of experience, and many have held senior management positions at major Property & Casualty carriers. This experience gives us a complete understanding of the issues and problems that our clients are faced with.
An operational audit of an international client’s claim department resulted in a complete reorganization of staffing levels and procedures. Reserve reductions totaling over $25,000,000 were realized based on Alan Gray LLC’s file audit, and the open file inventory was reduced by 35%.
A client requested an audit of claims under a complex reinsurance contract involving a large hospital group and multiple years of medical malpractice coverage. The audit identified a significant claim with serious coverage issues under the client’s contract, resulting in savings of $1,000,000 for the client.
A global insurer requested a comprehensive audit and analysis of an insured’s claim files and related jobsites to develop a model for non-product asbestos allegations. The insured was a distributor/contractor but was billing all losses as asbestos products losses. The audit identified a significant percentage of the audited claims as non-products asbestos claims. The client was able to utilize this information to negotiate a favorable settlement with the insured that resulted savings of over $10 million.
Meet the team.