The February 2023 Aite-Novarica Group report examines the premium audit solutions market, highlighting their role in revenue growth, operational efficiency, and fraud detection. With workers’ compensation premium fraud estimated at $25 billion and personal auto fraud at $35.1 billion, carriers are adopting AI, analytics, and automation to uncover missed premium opportunities and reduce manual processes. Virtual audits and embedded analytics enhance accuracy, while insurtech entrants leverage diverse data sources for deeper insights. Consolidation is reshaping the space, and advancements are positioning premium audits as strategic tools that improve customer experience rather than burdensome requirements.

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