Auditing and Review

Auditing and Review2018-09-27T13:05:54+00:00

Auditing and Review

SX3 Auditing and Reserve Reviews incorporates the following services:

  • Leakage
  • Reserving / IBNR / Closures / Reopening
  • Quality Assurance
  • TCF
  • Regulation
  • Reinsurance programs
  • Coverholders
  • TPAs
  • Suppliers
  • Protocol arrangements
  • GDPR

We provide a wide variety of audit services, looking at process adherence, reserving, technical decision making, leakage and run off management. We give commentary on the performance, comparisons against market leading practices, feedback from handlers, managers and service providers, along with a full suite of recommendations for improvement – with quantification.

We have strong expertise in auditing reserving performance, looking at adherence to company philosophies, timing of changes, and accuracy through the lifetime of the claim. We can also look at dormant file management approaches, quantify the degree of reserve redundancy, and review closed files for the risk of reopening.

Performance reviews

Process reviews, efficiency savings, frictional costs are all areas we have experience in. We can review your existing operation and your supply chain and develop a costed plan to improve performance and deliver objectively measurable savings.

Adrian Gilbert
+44 (0)7801 684 335


An insurer asked SX3 to provide expert insight into the effectiveness of its reserving approach. Our team performed an audit of files and data reports to enable accurate quantification of the reopen rate expected from the insurer’s dormant file closure process.

Performance Review
We reviewed the motor claims operation of a Top 10 insurer, and benchmarked the performance of processes from FNOL to final settlement to identify opportunities to improve loss ratio.  We enabled the insurer to:

  • quantify savings through improved decision making at FNOL
  • introduce additional tactics for third party intervention
  • identify gaps in their approved repairer offering
  • further tactics to control processes for TPD spend
  • target opponent specific strategies to defend late reported claims and reduce litigation spend.