Ensuring 100% Audit Compliance and Restoring Confidence in Bordereaux Reporting

Client Overview

A leading global insurer was facing growing concerns around the accuracy and transparency of their Bordereaux reporting. With an external audit by KPMG approaching, the organization needed complete clarity, reliable data validation, and a transparent workflow to avoid compliance issues and rebuild internal confidence.

Problem Statement

The client’s Bordereaux process revealed multiple compliance vulnerabilities:

• Inconsistencies in premiums and claims data raised concerns about accuracy.
• The process was flagged for a critical external audit by KPMG, adding pressure to rectify errors quickly.
• These inaccuracies risked audit failure, jeopardizing the client’s regulatory standing and reputation.
• The absence of a transparent data management workflow made it difficult to explain discrepancies to auditors.

Solution Provided

Decimal Point Analytics deployed it's Compliance and Risk Management Services to bring structure, transparency, and control to the audit process:

• Conducted a comprehensive review of the Bordereaux process to identify discrepancies.
• Identified and corrected discrepancies in premium and claims reporting, backed by supporting documentation.
• Established a transparent, step-by-step data workflow tailored for audit clarity and ease of explanation.
• Collaborated closely with KPMG to address audit concerns and ensure full readiness.

Outcome

• The client completed the audit successfully, with zero significant findings resulting in achieving full compliance.
• Strengthened internal confidence in the accuracy and reliability of Bordereaux reporting.
• Significantly reduced audit preparation time and streamlined compliance readiness.
• Improved transparency and traceability reinforced trust with auditors and regulators.

Key Takeaway

Clear documentation, proactive audit collaboration, and structured data workflows are essential for mitigating compliance risk and achieving audit success in the insurance sector.

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