--- title: Fee and Charge Accuracy Reviews | Risk Insights description: We recalculate the fees and charges on your products from source data and the product terms, then show you any overcharges, undercharges and their causes. image: https://riskinsights.com.au/hubfs/Risk-Insights-Apple-Touch-Icon.png --- [Skip to content](https://riskinsights.com.au/fee-and-charge-accuracy-reviews-risk-insights#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) --- # Fee and Charge Accuracy Reviews ## Are you charging customers what you told them you would? - Fee and charge calculations can run for years without a full check against product terms. - Even small errors can add up across thousands of accounts or policies and many billing cycles. - Overcharge and you have an unhappy customer, questions from a regulator, and remediation. - Undercharge and you lose revenue. We recalculate your fees and charges from the source data and the product terms, then compare our numbers with what you actually charged. So you know whether customers are being charged what they were told.   ### When it's worth checking - Fees or pricing rules have changed over time (e.g. new or modified products, fee waivers) and the system has been patched along the way. - Customers have queried charges, or your complaints team has spotted a pattern. - Fees, charges, rebates or discounts are worked out in different places, or partly by hand. - Past reviews checked the process, maybe with a sample, but nobody has checked the amounts in full. - A system migration or product change is coming up. - In insurance: premiums depend on discounts, loadings and tiers that have been added over the years, with adjustments for mid-term changes and renewals. ![How a fee and charge review works: we recalculate fees and charges from the product terms and source data, compare them with what you charged, and check each difference.](https://riskinsights.com.au/hubfs/fee-charge-review-desktop.svg "How a fee and charge review works: we recalculate fees and charges from the product terms and source data, compare them with what you charged, and check each difference.") ![How a fee and charge review works: we recalculate fees and charges from the product terms and source data, compare them with what you charged, and check each difference.](https://riskinsights.com.au/hubfs/fee-charge-review-mobile.svg "How a fee and charge review works: we recalculate fees and charges from the product terms and source data, compare them with what you charged, and check each difference.") ### What we check - Overcharges and undercharges. - Charges that don't match the product terms or what customers were told. - Discounts, waivers or rebates that should have applied but didn't. - Terms or disclosures that are unclear or can be read two ways. - Data or system errors that change the result, such as a balance, date or product code taken from the wrong place. - Steps that make the calculation more complex than it needs to be. Every in-scope customer, account, and transaction over a set period, usually 12 to 24 months. Large volumes are fine. We routinely work with hundreds of millions of records.   ### Why we check against the intent, not just the process A process review checks that the steps were followed.  But that approach can miss errors that only show up in the numbers: a requirement that was coded wrongly, a quick fix that was never removed, or a data change upstream. Checking against the intent, using all relevant data, can catch these. [More on this approach](https://riskinsights.com.au/blog/accuracy-outcome-focused-approach?hsLang=en).   ### What you get - The total of any overcharges and undercharges. - Which customers, products, transactions, and periods they affect. - The cause of each error, so it can be fixed. - A list of terms or disclosures that need to be made clearer. - A report you can use to fix the errors.   ### What happens in a review 1. Agree the scope and analysis period. 2. Read the product disclosures and learn how the data flows. 3. Collect the input data, as close to the source as possible, and the account charges. 4. Recalculate the expected charges and compare them with what was actually charged. 5. Work through each difference with your team. It may be a valid exception, a correction already made, or a real error. 6. Find the cause of each confirmed error. 7. Report the results and how they'll be fixed. ## 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 **How do you check if our fees are being charged correctly?** Recalculate them independently, from the product terms and the source data, then compare with what was actually charged.    **Is this a fee audit?** It's often called one. Unlike a typical audit, we check every transaction, not just a sample. Note: this is not an audit under the standards issued by relevant audit bodies, and we don't give an audit opinion.   **How much of our team's time does it take?** Most of it is at the start: the product terms, a data extract, and time with the people who know how the calculation works. After that, we come back with questions as differences 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.)* ## How to get started If you're responsible for customers or products, and want to know customers are being charged correctly, [book a call](https://riskinsights.com.au/meetings/yusuf-moolla?hsLang=en). We'll talk through how your fees and charges are calculated and whether a review makes sense.   --- 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)