QUALITY CONTROL
Quality Control
ON THE RIGHT THING applies a set of automated tools to check whether a company’s underwriting function is being handled correctly and if internal controls to prevent errors are adequately functioning. The “continuous” aspect of our quality control and reporting refers to the near real-time capability for the underwriting function to be checked and shared. Not only does it indicate that the integrity of the underwriting process can be evaluated at any given point in time, it also means that the outcome is verified constantly for errors or fraud. Each instance of quality control has its own pulse.
The interval that each company chooses for evaluation depends on their desired frequency of updates, therefore analysis of the data may be performed daily, weekly, monthly, quarterly etc.
Our quality control consists of two main sections:
The purpose of our quality control is to foster confidence in the underwriting process to aid the Chief Underwriter and Senior Management by advancing constructive suggestions for change based on objective information. They have the advantage of knowing valuable information as events take place, rather than waiting for the end of period reports.
The interval that each company chooses for evaluation depends on their desired frequency of updates, therefore analysis of the data may be performed daily, weekly, monthly, quarterly etc.
Our quality control consists of two main sections:
- Continuous data assurance, and
- Continuous controls monitoring
The purpose of our quality control is to foster confidence in the underwriting process to aid the Chief Underwriter and Senior Management by advancing constructive suggestions for change based on objective information. They have the advantage of knowing valuable information as events take place, rather than waiting for the end of period reports.