Basic Audit Training: FAQ and Webinar Highlights

By Megan Gardner | June 03, 2020

To help TAI users simplify and automate the audit process, Ryan Cauldwell, Manager of Reinsurance Consulting, walked us through common questions and the most used features of TAI’s Online Audit function (or “View Trace” as some users may call it) in the recent webinar: TAI Basic Audit Training. Ryan provided an overview of the audit functions available on TAI that can be used by both direct writers and reinsurers, whether you’re managing an internal or external request or processing a valuation or reinsurance query.

A lot of information goes into calculating premiums and diagnosing problems. TAI offers automation for admin processing but when you start looking deeper at the cession level, it can be hard to know where to begin. Some may look at the information on a manual basis using platforms like Excel; the webinar provided some tools you can use to quickly calculate and draw out the most important details.

In this webinar, we focused on Online Audit and Batch Audit, both of which are available without customization.  

Below you’ll find highlights from the webinar, the full recap is available on TAI’s Help Desk in the Knowledge Base, you can log in to access it.

FAQ: TAI Online Audit

Why should I use the TAI Online Audit function?

This function enables the user to question how or why TAI calculated a specific premium. It simulates a recalculation without updating any files or generating billing records.

How do I run the Online Audit?

The functions shared in the webinar can all be completed within the Cession Maintenance function. You’ll see hyperlinked functions across the top of the screen – Online Audit is found under the Financial Change option when you select Audit.

Where do I find the result of the Online Audit?

The results of the Audit function may be viewed within the popup window. Depending on your browser settings, you may need to “Allow Popups” to see the results. The online audit output display may be also found using the View Trace link.

Are there any limitations of the Online Audit?

The Online Audit is available for cessions in a ‘PMP’ status. The Audit function is also limited to a single policy, whether it is single life or joint life. If a policy contains multiple cessions, the Audit function will provide results for all cessions selected. It also allows you to get a view broken down by multiple reinsurers. You cannot run it for a list of policies (that’s where Batch Audit comes in – more on that below).

Is there an option for running an Audit for multiple policies?

Yes, there is a Batch Audit function available for TAI .NET users. This can be useful for reinsurers processing internal requests to review a given set of policies. You can generate an input file from the initial request or run a quick search. The Batch Audit process runs from an input file you need to generate. An example of the file input and cycle set ups is shared in the full recap of the webinar in the Knowledge Base section of TAI’s Help Desk.

Log in to Help Desk to access the full TAI Basic Audit Training Webinar recap.