Itasca, IL – Today, CPAudits is celebrating its 5th anniversary! The premium audit firm, launched in 2015, has successfully found its niche by combining resources with the insurance premium collection agency, Brown & Joseph, LLC.
The idea for CPAudits was sparked a little over five years ago when one of Brown & Joseph’s top insurance clients expressed frustration with Days Premium Outstanding (DPO) resulting from delays with their premium audit vendor and premium recoveries.
The amount of time it was taking for the carrier to conduct a re-audit was becoming an issue, which resulted in a backlog of aged, estimated audits. This, in turn, was preventing newly ordered audits from being completed in a timely manner. Additionally, they noticed the quality of audits was declining due to their convoluted process.
Dennis Falletti, Executive Vice President of Brown & Joseph, took this to task and created CPAudits. In combination with Brown & Joseph’s Premium Collection Agency, Brown & Joseph was able to provide a solution by combining the two companies together to offer a collection agency that conducts premium audits and a premium audit company that collects past due premiums.
“CPAudits is at the leading edge for providing a low-cost integrated solution to improve our client’s DPO. The insurance market is ever-evolving and through our clients and partnership agreements, Brown & Joseph is at the forefront for providing customized, cost-effective, and leading-edge solutions to the insurance industry,” commented Falletti.
Instead of delaying the audit and collection process with multiple hand-offs between agencies and departments, the combination of CPAudits and Brown & Joseph created a single, seamless solution to noncompliant and nonproductive or estimated audits.
CPAudits focuses on the areas of business that typically burden operations, enabling staff to increase daily production goals and reduce the amount of days the audit premium is outstanding.
Over the past 5 years, the company quickly grew from just one in-house premium auditor to a team of auditors situated throughout the U.S. During this time, the CPAudits Estimate Audit Recovery Program (EARP) opened additional revenue flows of over $44 million for their clients.
“It’s amazing what has been accomplished in such a short amount of time! Our relationship with Brown & Joseph will exponentially reap more benefits for our clients in the years ahead,” said Mark Dierking, CPAudits Premium Audit Manager.
About Brown & Joseph
Brown & Joseph was founded in Chicago in 1996 by a group of experienced leaders within the financial services space. The company grew rapidly, earning a stellar reputation within the debt collection industry by routinely exceeding customer expectations and collecting what others simply cannot.
Working in tandem with its clients, Brown & Joseph strives for continuous improvement to sustain its best-in-class performance through ongoing analysis, performance evaluation and investments in cutting-edge technology to return working capital to the companies it serves.
