Every 3-5 years, insurance companies across the nation are required by the state Department of Insurance to undergo a financial examination. While essential to ensuring compliance with established state insurance standards and regulations, the exams are often time consuming and costly. For this reason, many organizations look for ways to limit the extent of an examination before it even begins. While an examination can include virtually every aspect of operations, a higher emphasis has been placed on information technology (IT) and data protection practices. This prioritization means insurance companies should consider conducting an IT assessment prior to an examination.
IT Assessment Experience
JLK Rosenberger has years of experience serving the insurance industry. Our team members have experience working with organizations of all sizes delivering the tax, assurance, and IT solutions needed to maintain compliance with the National Association of Insurance Commissioners (NAIC) and state Departments of Insurance. The unique blend of technical knowledge combined with practical experience allows us to deliver useful insight to management and provide peace of mind to state examiners.
This specialized assessment provides organizations with a readiness assessment of IT prior to a Department of Insurance Financial Examination. The report can be provided to the Department of Insurance and may be relied upon by the examiners in lieu of their own procedures. The scope of services is specifically designed to align with the objectives of state insurance examiners and the NAIC. The assessment:
- Follows the procedures promulgated by the NAIC.
- Can be combined with a Cybersecurity & IT Best Practices Review.
We’re Here to Help
Proactively conducting a DOI IT assessment will ensure your company is prepared for the next DOI examination. Whether it is a first IT assessment or part of an ongoing program, JLK Rosenberger is here to help. To learn more, complete the form on the right and we will follow up with you promptly.