SkyComp was developed in cooperation with insurance carriers to ensure the high level of accuracy BFP demands and clients need. SkyComp's operational processes crosscheck and review key values monthly and draw on independent system calculations to validate ongoing values. The industry requires regular audits, and prior to 2007, SkyComp was frequently audited by insurance carriers, fund managers, clients and other business partners. In 2007, SkyComp began quarterly SAS 70 reviews with annual reports issued.
Currently SkyComp is audited quarterly under the newer SSAE 16 guidelines, and the 2012 audit has been completed.
The Results: No audit has ever identified a significant problem with the SkyComp Policy Administration platform or its related processes.
