MAXIMISE COSTS & EFFICIENCY SAVINGS
Taylor Rose provides auditing services to the insurance and compensation sector.
This is an established off-shoot of our costs negotiation work, which always required close auditing of insurers’ files to understand the opponent’s claim for costs.
We now frequently audit insurers’ own legal service providers. Our experience of both high and low profile accounts, and technical and non-technical cases, means that we are able to audit and provide expert, personalised costs advice in order to maximise costs and efficiency savings.
Many of our clients are insurance companies who require an expert eye to be cast over their panel solicitor’s files, in order to check that the files are compliant or alternatively for insight into whether savings could be made. We are able to conduct audits in-house, in order to maintain the good relationship already in place with the legal service provider, or provide a take-away service, in order to avoid disruption to the day to day running of the supplier’s business.
We advise our clients whether costs could be saved in future, and whether the costs could or should be recovered from the supplier. We are able to spot whether a panel solicitor concluded the case in the most favourable way to you, and how to fix the problem if it didn’t.
We offer three specific types of audit which can be carried out by our team of experts:
Compliance auditing starts from a neutral baseline, from which points are lost for non-conformities, and credit is gained for good performance and positive behaviour. We look for substantial compliance with a relevant Service Level Agreement or best practice.
We make an analysis based on specific concerns raised in advance of the audit. For instance, concerns may have arisen because of errors and an insurer may want to grasp the extent of the problem.
This focuses squarely on financial consequences. We assess the notional cost of decision-making, errors and omissions against the potential spend and determine whether it is within a reasonable margin of appreciation.
We always prepare a written audit report and that is usually accompanied by a feedback session.
Using Taylor Rose as an external auditor will assist in determining problem areas and where improvements can be made, freeing up your time and improving efficiency. We are here to relieve the pressure and stress of auditing files.
For a no obligation quote, or to request further information, please contact us.
WE ARE ABLE TO AUDIT AND PROVIDE EXPERT, PERSONALISED COSTS ADVICE IN ORDER TO MAXIMISE COSTS AND EFFICIENCY SAVINGS
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