--- title: Approach | How we work | Risk Insights description: Independent accuracy and fairness reviews of algorithmic systems in banks, credit unions and insurers. What we look for, how a review works, what it costs. image: https://riskinsights.com.au/hubfs/Algorithm_Integrity_Matters_Podcast_Artwork.jpeg --- [Skip to content](https://riskinsights.com.au/approach#main-content) [![Risk Insights - Logo - (RGB, Horizontal, Small)](https://riskinsights.com.au/hs-fs/hubfs/Risk%20Insights%20-%20Logo%20-%20(RGB%2c%20Horizontal%2c%20Small).png?width=200&height=40&name=Risk%20Insights%20-%20Logo%20-%20(RGB%2c%20Horizontal%2c%20Small).png)](https://riskinsights.com.au?hsLang=en) - [Articles](https://riskinsights.com.au/blog) - [Approach](https://riskinsights.com.au/approach) Show submenu for Approach - [Commissions (Accuracy)](https://riskinsights.com.au/broker-partner-commission-accuracy-reviews) - [Claims Fraud (Fairness)](https://riskinsights.com.au/claims-fraud-fairness-reviews) - [Fees and Charges (Accuracy)](https://riskinsights.com.au/fee-and-charge-accuracy-reviews-risk-insights) - [About](https://riskinsights.com.au/about) - [Contact](https://riskinsights.com.au/contact) Open main navigation Close main navigation - [Articles](https://riskinsights.com.au/blog) - [Approach](https://riskinsights.com.au/approach) Show submenu for Approach - [Commissions (Accuracy)](https://riskinsights.com.au/broker-partner-commission-accuracy-reviews) - [Claims Fraud (Fairness)](https://riskinsights.com.au/claims-fraud-fairness-reviews) - [Fees and Charges (Accuracy)](https://riskinsights.com.au/fee-and-charge-accuracy-reviews-risk-insights) - [About](https://riskinsights.com.au/about) - [Contact](https://riskinsights.com.au/contact) --- # Our Approach ## An algorithmic system is more than a model. It's the data, rules and models, and the processes and decisions around them. Our reviews cover all of these, wherever they affect the result. ## Two types of review ![Two types of review. Accuracy: is the system producing the right result? Examples: broker commission payments, fee calculations. Fairness: is the system treating customers fairly? Examples: loan origination, claims fraud.](https://riskinsights.com.au/hubfs/review-types-boxes-desktop.svg "Two types of review. Accuracy: is the system producing the right result? Examples: broker commission payments, fee calculations. Fairness: is the system treating customers fairly? Examples: loan origination, claims fraud.") ![Two types of review. Accuracy: is the system producing the right result? Examples: broker commission payments, fee calculations. Fairness: is the system treating customers fairly? Examples: loan origination, claims fraud.](https://riskinsights.com.au/hubfs/review-types-boxes-mobile.svg "Two types of review. Accuracy: is the system producing the right result? Examples: broker commission payments, fee calculations. Fairness: is the system treating customers fairly? Examples: loan origination, claims fraud.") ## Accuracy: is the system producing the right result? Examples: [broker commission payments](https://riskinsights.com.au/broker-partner-commission-accuracy-reviews?hsLang=en), [fee calculations](https://riskinsights.com.au/fee-and-charge-accuracy-reviews-risk-insights?hsLang=en). We check the results against what was intended, not just whether the process was followed. Most accuracy reviews only check the process. [More on this approach](https://riskinsights.com.au/blog/accuracy-outcome-focused-approach?hsLang=en). ### What we look for - Overpayments and underpayments. - Results that don't match the agreed terms. - Terms that are unclear or can be read two ways. - Data or system errors that change the result. - Steps that make the calculation more complex than it needs to be. ### What happens in a review 1. Agree the objective, scope and analysis period. 2. Read the documents that set the expected result (contracts, product terms, disclosure statements) and learn how the data flows. 3. Collect the input data, as close to the source as possible, and the actual results. 4. Recalculate the results and compare them with the actual results. Work through each difference with your team: it may be a valid exception, a known data fix, or a real error. 5. Find the cause of each confirmed error, then report the results and how they'll be fixed. ## Fairness: is the system treating customers fairly? Examples: loan origination, [claims fraud](https://riskinsights.com.au/claims-fraud-fairness-reviews?hsLang=en). ### What we look for - Outcomes that aren't [equitable](https://riskinsights.com.au/blog/fairness-equity-vs-equality?hsLang=en) between groups. - [Proxies](https://riskinsights.com.au/blog/postcode-discrimination-proxy?hsLang=en): data that stands in for a protected attribute. - [External data](https://riskinsights.com.au/blog/external_data_use_with_care?hsLang=en) or other data sources that aren't needed. - Decisions that can't be [explained](https://riskinsights.com.au/blog/explainability-part-1?hsLang=en). ### What happens in a review 1. Agree the objective, scope and analysis period. 2. Understand the process, rules, models and data sources through discussions and document review. 3. Review the rules, models and data for any use of protected attributes, directly or through proxies. 4. Analyse outcomes data for differences between groups, and find the source of any bias. 5. Report the results, with suggestions to resolve or reduce any bias. ## Working with us ### Timeframe Most reviews take 2 to 6 months. ### Fixed price The typical range is $50k to $150k (AUD). ### Senior only Work with Yusuf directly. No junior staff. ### Independent We don't design or build the systems we review. ## Common Questions **Who do you work with?** Banks, credit unions and insurers.   **We struggle to explain how our systems work to junior staff. How do you overcome this?** You will deal with Yusuf, directly. [Our client promise](https://riskinsights.com.au/about?hsLang=en).   **How do you stay independent?** We don't design or build the systems we review. If we design controls for a bank or insurer, we don't provide review services to that entity.   **How much of our team's time does it take?** Most of it is at the start: the relevant documents, data extracts, and time with people who know how the systems and processes work. After that, we come back with questions as things come up that we can't figure out ourselves. *(It usually takes less of your team's time than a typical review, because the person asking the questions is experienced.)* --- We acknowledge Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the lands on which we live and work. We pay our respects to Elders past and present, and honour the rich diversity of the world's oldest living cultures. [View our LinkedIn page](https://www.linkedin.com/company/riskinsightsap) [email us](mailto:info@riskinsights.com.au) [Call us](tel:+61408946143) 2026 Risk Insights Pty. Ltd. | [Privacy](https://riskinsights.com.au/privacy-policy?hsLang=en) | [Disclaimer](https://riskinsights.com.au/disclaimer?hsLang=en)