Insurance

Find Lost Profit

Profitability is an ongoing concern, especially since new market competition, changing customer behavior and technological advances are reshaping the insurance industry. But improving profit margins usually means reducing costs or increasing fees. We help you reach wider, dig deeper and act faster so you can contain costs while maximizing profit margins.

See What You’ve Been Missing™

Pinpoint Gaps in Data for Better Performance

There are ongoing complexities in the insurance market, as what applies today can easily shift tomorrow. Our proven track record allows you to easily navigate these nuances, ensuring you remain profitable while improving performance through mission-critical product and spend analytics.

Face These Insurance Business Challenges Head-On

Organic Growth

Business expansion in a fiercely competitive landscape requires finding and developing new relationships and investing in new business activities, both of which require funding. Our detailed audits will help uncover and stop your spend leaks, identifying the hidden profit opportunities that allow you to grow and remain competitive.

Technological Innovation

Success requires new, updated tools and service partnerships that allow you to perform at the highest level. Our secure technology-enabled approach provides the ongoing operational efficiency required to give you insight into your transactions with third party suppliers.

Invest Within

In an increasingly commoditized industry, standing apart from a growing number of competitors is critical. Whether you focus on freeing up resources to grow talent or increase customer offerings, investing in your business is imperative. Trust our proven, secure and data-driven self-funding programs to dig deeper and recover the hidden revenue to reinvest in your organization.

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PRGX Solution Suite

Accounts Payable Recovery Audit

Outsmart the Spend Cycle

Although untapped value exists within your source-to-pay data, the resources for finding that value are scarce. Common errors like duplicate payments can lead to millions of dollars in lost profit. Our Accounts Payable Recovery Audit helps companies identify and recoup funds across a myriad of settings and prevents the errors from happening again.

Our comprehensive approach reviews all major factors of your accounts payable process, including:

  • Disbursements
  • Statements
  • Escheatment avoidance
  • Sales and use tax

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Contract Compliance

Realize Maximum Contract Value

With the significant number of third parties you manage, making sure they fully deliver on contracted terms can be a huge task. Our Contract Compliance Audit services help ensure that your contracts are thorough and effective and that all third parties are performing and invoicing to your negotiated agreements.

Our services cover:

  • Price variance
  • Labor rates and per diems
  • Equipment and materials
  • Mark-ups and multipliers
  • Pass-throughs
  • Profit and overhead
  • Negotiated supplier agreements

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Advanced Analytics

More Data, More Expertise, More Value

Every day that your source-to-pay cycle isn’t optimized is a missed opportunity to find the resources you need to invest in and grow your business.  Our Advanced Analytics combine industry-leading consulting and data expertise with robust tools to rapidly uncover insight and take action to deliver bottom-line results.

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Technology-Enabled Platform

 

Protecting highly sensitive client data

We utilize a unique technology triad that enables our specialized teams to efficiently and securely perform a variety of audits – to help you uncover value in your processes. Our proprietary platform, the Verigon™ Solution Suite, rapidly takes in huge volumes of transaction data from accounting, ERP, procurement and other systems. Once captured and streamlined, data is housed in our Epiphany Data Foundation™- the foundation of our recovery audit, contract compliance and advanced analytics solutions. At the same time, enjoy complete visibility into the audit process and fund recovery via our Panoptic™ Compliance Audit Platform.

To help keep our client data secure, our technology maintains the privacy, integrity and controlled use of confidential information, including personally identifiable information through a combination of hardware, software and physical security, coupled with strong internal data security processes, procedures and controls that meet or exceed relevant laws, regulations and industry best practices.

 

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