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What is the primary purpose of premium auditing?

Increase customer engagement

Support the accuracy of policy premiums

The primary purpose of premium auditing is to support the accuracy of policy premiums. This process involves reviewing the insured's operations and financial records to determine the correct amount of premium owed based on the actual risk exposure over the policy period. By conducting premium audits, insurers ensure that the premiums charged reflect the risks they are underwriting, which aligns premiums with the actual exposure of the insured. Accurate premium calculations are essential for maintaining the financial health of an insurance company and ensuring fairness for policyholders. Through premium audits, any discrepancies between estimated and actual risks can be identified and corrected, leading to better pricing and risk assessment practices.

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Enhance risk control services

Facilitate claims processing

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