Insurance Advisory

We develop and implement holistic approaches to regulatory compliance and risk management

A Team You Can Count On

Insurance Advisors

We help insurance companies that are frustrated with the cost and administrative burden of meeting regulatory requirements. We work with senior management that is overwhelmed trying to manage operations using inefficient processes that no longer incorporate adequate internal controls. We assist boards and audit committees that are uncertain if their corporate governance practices are sufficient for them to meet their fiduciary responsibilities. We have experience serving mutuals, stock, start-ups and run-offs, property and casualty, life and health, and managed care and third-party administrators.

Provided Services

Accounting & Audit Tax Services Business Advisory Forensic & Litigation Business Valuation Estate Planning International

Organization Affiliations

Internal Controls and Consulting

A company with new owners had an accelerated plan to change operations to an outsourcing model streamlining all processes with many new team members. A professional with Wouch Maloney was contacted by the new chief audit executive (“CAE”) in need of experienced executive level support to help build an internal audit department that would be immediately perceived as providing cost-effective value to the organization.

Problem

The new chief audit executive had limited internal audit experience, many other responsibilities, and no seat at the executive table. With limited time, internal resources and budget, the CAE was charged with the task to quickly build an exceptional internal audit team collaborating with management to help them build processes with internal controls to minimize risk.

What we Did

The team worked closely with the CAE and quickly designed a streamlined internal audit department framework that addressed key enterprise risks. The audit scopes were condensed to facilitate timely completion of the audits to quickly demonstrate internal audit’s value to the organization. Timely communication protocols were established to ensure the team focused on top priorities within budget in this dynamic environment.

Value

By working collaboratively with the CAE and the experienced team, the CIO was able to confidently evaluate the current state of the IT department and develop an action plan to implement an ideal future state. Timely audit results and recommendations identified weaknesses in noncompliance with certain policies that exposed the company to increased expenses. New policies were quickly implemented that mitigated the risk. Within a few months, the CEO saw the benefit of using internal audit as a resource and recommended at a town hall meeting that senior management include internal audit in process design discussions to help improve the internal control structure and develop enhanced processes, thus earning the CAE a seat at the executive table.

Our Clients Trust Us

Our valued clients are our most enthusiastic supporters.

They identified what I didn’t know and provided a solution staffed with the right people at the right time enhancing employee engagement, satisfying senior management, the board, and my regulators.

CFO Property & Casualty Insurance Company

We engaged Lisa to help us comply with the Corporate Governance Annual Disclosure. She took the STRESS away from me and the board of trying to answer all the questions and draft the wording that best reflected our company. She made the CGAD one less thing for us to worry about and it was done so quickly too! It was so worth hiring her to help us. I recommend Lisa and her team to anyone else who needs help with the CGAD or any other services your Company provides. Our board was very pleased. We greatly appreciated her help.

Treasurer, Mutual Insurance Company