Accounting Systems

We utilize our insurance knowledge and experience to bridge the gap between insurance and accounting systems and the resultant data.

Considering today's environment with Sarbanes Oxley, corporate governance and accountability, confidence in accurate financial statements has never been more important. We provide quality assurance services to ensure insurance systems are aggregating and calculating insurance information accurately. We also ensure the relevant accounting systems are appropriately recording this information from the insurance system and provide a comprehensive review and audit of the report mechanics. We provide services to corroborate the relevant accounting reports with the system reports to provide a level of confidence in the numbers being processed and recorded that could not otherwise be achieved from just random sampling performed by an internal audit staff. Since we thoroughly understand statutory accounting concepts and are able to "bridge the gap" between insurance and accounting systems, we identify issues that are often overlooked by technology companies and auditors. Our expertise in this focus area is unparalleled. (See Louisiana Citizens Case Study)

Our thorough understanding and practical experience in the insurance business provides opportunities where we can play multiple roles within a project, so resources are more efficiently utilized and potential miscommunication in the translation of business requirements into technical specifications can be reduced dramatically. Combined with our multi-discipline expertise, technology projects can be expedited and accuracy and end user satisfaction can be ensured while resources are more efficiently allocated.

While the following are not our core services, they exemplify our range of knowledge and services. We have created financial and operational models to provide predictive GAAP and Statutory financial statements, based on hypothetical business assumptions, such as policy acquisition, acquisition costs, distribution channels, operational cost drivers, reinsurance contracts and costs, loss development and payment patterns, etc. And, we have implemented accounting systems and enterprise resource planning systems, including the design of chart of accounts, accounting process flows and financial statements.