Health check follow-ups
Are you sure compliance gaps have been closed?
Promising to improve is not the same as proven improvement. Our follow-up service provides verification that panel firms have acted appropriately to address issues and that your risk exposure has been reduced.
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Assess if panel firms have remedied issues
We conduct a follow-up audit focused on the recommendations from a previous health check, testing controls and procedures to assess whether they have been effectively embedded. This provides objective proof that a firm has made the required improvements, informing your decisions regarding the ongoing commercial relationship.
Insurers
Funders
Investors
We’ll provide independent validation to evidence your improvements to clients and insurers.
Guided by recommendations from a previous health check, we’ll conduct a highly focused review of the remedial actions, process improvements, or additional training that panel firms were directed to implement.
The key outputs of the follow-up comprise:
Focused re-audit
Verification that policies and procedures have been updated per the initial recommendations.
New compliance roadmap
A revised roadmap to guide ongoing compliance and risk management efforts.
Updated risk rating
An updated risk profile to reflect the positive impact of the improvements made.
Actionable outcomes
Independent confirmation of changes
Objective data for decision-making
Visibility into practice, not just policy
Resolution of confidence issues
Consistent standards panel-wide
Need to know that risks have been addressed?
Speak to Complex Risk today. Our follow-up service provides the independent verification you need to confirm that changes have been carried out and your risk exposure has been measurably reduced.
Frequently asked questions
If you don’t find the answer to your question here, get in touch with us and we’ll be happy to help.
As with the health checks themselves, the follow-ups vary in length depending on the size of the firm involved, the scope of the health check, and any issues identified or recommendations made in the original health check report. For smaller firms on our baseline package, we’d usually require about 2 weeks; for more complex projects, we may need 5 or 6 weeks to conduct a comprehensive follow-up.
Even with panel firms that you trust completely, relying solely on their confirmation that they’ve implemented remedial actions only tells part of the story – that they’ve completed the task set. Our independent verification gives you the full picture: whether that task actually solved the underlying problem, whether the improvements are being applied consistently, and – crucially – the effect that any changes have had on your exposure to risk.
Where firms have been unable to fully address the issues identified in an earlier audit or health check to your satisfaction, or to the standards agreed, our report provides independent evidence of that outcome. It gives you a solid base from which to take further action, whether that’s enforcing panel terms, adjusting commercial arrangements, or exiting the relationship.
The follow-up is a much more targeted and efficient process. We do not re-audit the entire firm. Instead, we focus on the specific recommendations from the initial report and test the new policies and procedures that were put in place. This makes the engagement significantly quicker and less disruptive for the firm, while still delivering the precise assurance you require.
Once the follow-up health check is complete, you’ll receive a concise progress and verification report. Unlike the initial report, which focused on identifying problems, this one focuses on solutions and outcomes. It provides a clear "before and after" snapshot, presenting the original findings alongside our verdict on the effectiveness of the remediation. The key deliverable is a newly calculated, updated risk rating for the firm.