Our Services

Click on a link below to read about a specific service we offer, or browse down through the entire page to read about all of our services.

Reinsurance Administration for Insurers, Reinsurers, and Self Insurance Groups:

IRI has the resources to support or completely outsource, as needed, all aspects of your ceded reinsurance administration including accounting, financial reporting, and internal control

Software Implementation and Automation:

At IRI we possess a rare combination and depth of direct and reinsurance business experience and IT skills that make us ideally suited to manage, assist, or supplement your own staff in connection with projects of this nature. Some examples of prior IRI engagements include:

IRI has developed a proprietary software package that provides our clients with a solid foundation for their ceded reinsurance accounting and reporting requirements. Click on one of the links below to view or download our flyer describing this software product.

»Ceded Reinsurance Administration Flyer     »Download PDF 

Claim and Premium Leakage Recovery:

We provide a consulting service focused on recovering funds lost over the years due to weaknesses hidden within your existing ceded reinsurance processes. Click on the links below to view or download our flyer describing this service as well as a more detailed briefing in the form of a Powerpoint presentation.

»Claim and Premium Leakage Recovery Flyer     »Download PDF 
»Claim and Premium Leakage Recovery Powerpoint Presentation     »Download PDF 

Audit and Inspection:

IRI provides comprehensive auditing services to facilitate your exercise of contractual Inspection rights.

These assignments result from the need for additional due diligence when you face business risks and opportunities in connection with the contractual performance of a third party, for instance a ceding company, a claims third-party administrator (TPA), an underwriting manager (MGA), or a underwriting pool manager. In these circumstances, IRI provides a proven audit program that can address all facets of the third-party’s operations (premium, commission, loss, and cash accounting and reporting, as well as pricing, underwriting, and reinsurance). We can also assess the accuracy of representations made by third-parties prior to entering the applicable contracts. If necessary, our audit program can be customized to fit your detailed requirements for a particular assignment.

When additional due diligence is required, retaining IRI will provide you the following benefits. Our staff are independent and can conduct the necessary due diligence while your staff preserve their day-to-day relationship with third party staff. In addition, we are specialists in performing Inspections and can leverage the expertise we have accumulated in many years of experience to benefit your organization. We prepare and maintain detailed workpapers to support our conclusions. We can work with the staff of the third-party to assist in implementing your recommendations. We are also ready to stand behind our Reports and have experience in giving deposition and hearing testimony in connection with arbitration or litigation, if necessary.

Our standard Inspection of Records assignment encompasses the following activities:

  1. Pre-Inspection Preparation
    1. Review of applicable contract(s) and placement materials for relevant representations, and terms and conditions
    2. Acquisition and analysis of electronic premium, claim, and risk information
    3. Preparation of program for on-site Inspection
  2. On-site Inspection
    1. Review of audit evidence
    2. Inquiry of personnel
    3. Review of systems and procedures
  3. Report Preparation and Wrap-up
    1. Query letter(s) to confirm loose ends and issues
    2. Report contents:
      1. Contract details
      2. Accounting position details
      3. Findings
      4. Recommendations

Forensic Accounting Investigation:

When the need arises for an independent expert to conduct a detailed assessment of an insurance or reinsurance business transaction, large or small, think of IRI. We have established a solid track record of qualifications in providing forensic accounting consulting services to many of our clients. Some examples of prior IRI engagements include:

Finance, Accounting, and Business Process (including internal control) Consulting:

Our clients seek our assistance in this area as they confront a variety of challenges and developments in their businesses as well as in the industry in general. For example upcoming accounting standards convergence will demand that insurers and reinsurers devote additional resources to evaluation and implementation of these new standards. Using temporary supplemental resources (but highly skilled and experienced) from IRI presents a perfect solution for our clients in situations like this. Some examples of prior IRI engagements include:

Staff Augmentation:

Have you identified a project that cannot currently be staffed by your own people or do you need temporary assistance in your accounting, claim or actuarial department? If you are in need of temporary project assistance which requires more expertise than someone at a “temp agency” will bring, give us a call to see if we can help.

Our people have been in the front lines of insurance and reinsurance operations and can bring that experience to bear on your problems. We can share perspectives on the issues that you are facing that may lead to a new way of looking at the problem and to new solutions.

Our claim professionals have expertise in many different types of claims, as a reinsurer (facultative and treaty) and as direct insurer (primary and excess) including

We can assist in evaluating the “Holy Trinity” of claims; Coverage, Liability and Damages, for reserving purposes or in response to a demand for payment.

The IT, accounting, actuarial, and claims professionals at Insurance Resolutions, Inc. have been involved in “real world” issues that may provide the experience that you need.