OUTSOURCING, SUPPLIER MONITORING AND REVIEWS

A taylor made monitoring service to help you demonstrate regulatory compliance with Financial Services Authority (FSA) requirements.

This service can include:

Review of operational management and controls;

Analysis of management information;

Review of individual insurance claims cases;

Sampling and checking of payments and reserves;

Review of overseas-based operations.

Like many insurance companies faced with the challenge of ensuring FSA compliance, our client - a virtual insurer with inevitably limited internal resources - needed access to an experienced and independent team that could help it develop and implement a monitoring programme on its outsourced claims suppliers.

CWMC is working on a full service two-year contract, customised audit programme following on from a detailed risk assessment of suppliers. This programme also looks at claims training, regulatory compliance, complaints-handling and opportunities for future business improvement. Our flexibility and experience allows us to focus on where need is greatest, ensuring faster and more cost-effective results.