Insurance premium audits aren't necessarily difficult, but they require specific documentation and can become time-consuming when the person handling them isn't familiar with the process. When one client's administrative employee was tasked with completing an audit, NYC Business Group stepped in to explain what was needed, where to find the required documents, and how to submit everything through the insurance company's portal.
The Challenge
One of our clients spends approximately 99% of his time in the field. When it was time to complete an insurance premium audit, he understandably turned the responsibility over to a trusted member of his administrative staff.
The challenge wasn't the employee's ability or willingness to handle the task. She simply hadn't been through the insurance audit process before.
Premium audits require specific information and documentation, and knowing what an insurance company is requesting — as well as where to find it and how to submit it — isn't necessarily obvious to someone encountering the process for the first time.
Rather than have the client pull his attention away from running the business, his administrator reached out to NYC Business Group for help.
How We Helped
We walked the administrator through the audit process and explained the documentation the insurance company required.
We helped her understand what each requested item was, where the necessary documents could be found, and how the information needed to be submitted.
Just as importantly, we explained how to use the insurance company's online portal to properly submit the audit documentation for processing.
Instead of leaving the client's staff to interpret unfamiliar insurance requirements on their own, we were available to guide them through the process step by step.
The Result
The client's administrator had the information and direction she needed to handle the premium audit while the business owner remained focused on his work in the field.
What could have become a frustrating and time-consuming administrative project became a manageable process with guidance from someone familiar with insurance audits and the carrier's requirements.
“For busy business owners, ongoing support can be just as important as finding the right coverage in the first place.”
Insurance support goes beyond the policy
Insurance service doesn't end when a policy is issued.
Premium audits are a normal part of many commercial insurance policies, but they can create unnecessary frustration when a business owner or employee isn't familiar with the documentation being requested or the submission process.
NYC Business Group helps clients understand what their insurance companies are asking for and guides them through the steps necessary to complete the process.
For busy business owners, that kind of ongoing support can be just as important as finding the right coverage in the first place.