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Premium Audit Services focuses on providing our business partners with solutions to challenges in today's market. Our team of forward thinking professionals will work with you to design an effective Premium Audit strategy.
Our solutions-oriented Premium Audit Management Team helped reduce the overall audit cost for a national carrier by effectively communicating with not only the carrier but their broker to make the audit process more efficient. FARA also assisted in improving the overall audit experience for the insured by successfully communicating with the insured prior to and during the audit. The open communications between FARA, the carrier, the broker and the insured allowed the client to receive the utmost quality and service.
Our service solutions include mail, phone, physical, and virtual audits. FARA's experienced field representatives provide superior service to all 48 contiguous states and Hawaii. Our management team is always ready to insure that our client's experience is unmatched.
FARA has developed an unsurpassed way of controlling quality. Our auditors are experienced, averaging over 9 years of experience. Our patented system allows for automatic calculations of the audit reducing not only billable time but also reducing human error.
FARA Premium Audit Services aided a client, a super regional property and casualty insurance carrier, in reducing their failure rate with the Pennsylvania Compensation Rating Bureau by 14% which resulted in the removal of probationary status for that client.
FARA Premium Audit Services utilize FARA's premiumAuditExpert system, which has built-in intelligence that creates internal and external efficiencies enhancing every aspect of the premium audit process. Those efficiencies not only result in a reduction of data entry time and on site time, but also include real time reporting, immediate audit tracking capabilities, and an overall better way to manage the audit process resulting in a reduction of costs to our clients.
