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Final Audit

Original price was: $1,800.00.Current price is: $1,500.00.

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Frequently Asked Questions

FAQ 05

The process begins by understanding the task, required documentation, workflow expectations, and the procedures your agency would like our team to follow.

The service workflow can be structured around your existing procedures, documentation requirements, internal instructions, and preferred way of completing each task.

Requirements depend on the service. Relevant policy, billing, client, carrier, application, or supporting documentation may be needed so the requested task can be processed correctly.

A defined workflow helps keep task requirements, documentation, processing steps, and completion standards consistent with the procedures established for your agency.

The working arrangement can be adjusted around different operational needs and processing volumes as your agency's workload changes.

Final Audit

Final Audit

Average Time
10-15 minutes
Required Materials
Final audit received from the carrier; Initial estimated exposure data.
Description

For commercial policies subject to routine end-of-term auditing—such as Workers' Compensation or General Liability—DaDa Services seamlessly manages the integration of the carrier's final exposure audit. We ensure that the initial estimated exposures are properly reconciled against the final actualized figures, providing a transparent and clear financial picture for the insured regarding any outstanding balances or owed refunds.

Final Audit

01
STEP 01
Receive the comprehensive final audit statement issued directly by the carrier at the conclusion of the policy term.
02
STEP 02
Conduct a comparative review of the actual reported payroll or sales figures against the estimated figures established at the policy's inception.
03
STEP 03
Update the agency management system with the finalized audit figures, carefully noting any resulting financial impact, such as an Additional Premium (AP) due or a Return Premium (RP) owed.
04
STEP 04
Dispatch the official audit statement along with the resulting invoice (if an AP is required) directly to the insured for processing.
05
STEP 05
Stand ready to assist the agent in gathering data and initiating an audit dispute should the insured formally contest the carrier's final calculations.
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