More On Bobo’s IMSA Column
To The Editor:
Jack Bobo raises some good concerns about the audit approach to the Insurance Marketplace Standards Association in his June 10 column. But the IMSA process is made up of “assessments,” not audits. Jack is right that some companies choose their auditors to do their independent assessments, but so far only a third of IMSA’s 211 members have taken this route.
The choice of an independent assessor is up to the companies, not IMSA. IMSA’s Web site lists 54 independent assessors from a wide range of backgrounds–auditing, management consulting, law and actuarial studies.
Some companies like the prestige of having their assessment done by a “big name” firm. But independent assessors with insurance marketing backgrounds are available. I happen to be one, building my career in the marketing area of one of the nation’s largest insurers. Our IMSA team has worked with more than 30 IMSA companies, sharing best practices and highlighting the important synergies between marketing and compliance.