Andesa Successfully Completes 2024 SOC 1^®, SOC 2^®, and SOC 3^® Examinations

Allentown, PA, October 16, 2024

Andesa, a leading policy lifecycle solutions provider for the life insurance and annuities industry, announced today the successful completion of its annual Service Organization Control (SOC) examinations.  The SOC examinations were conducted according to attestation standards created and managed by the American Institute of Certified Public Accountants (AICPA). The AICPA has established three, distinct SOC examination engagements –
SOC 1^®, SOC 2^® and SOC 3^®.  

Andesa has delivered the following reports to its clients:

• SOC 1^®/Type II report – A restricted distribution report that examines the design and operating effectiveness of Andesa’s controls. This report addresses Andesa’s Administration System for Processing Insurance Policy and Plan Values, and Transactions related to financial reporting.  
• SOC 2^®/Type II report – A restricted distribution report that examines the design and operating effectiveness of Andesa’s controls as they relate to Security and Availability.   This means that Andesa’s clients can feel confident in the secure design and operating effectiveness of the Andesa platforms, which successfully passed the rigorous security verification process.
• SOC 3^® report – An unrestricted distribution summary report issued upon successful completion of SOC-2/Type II. 

Developed by the American Institute of Certified Public Accountants (AICPA), SOC 2^® compliance is widely recognized as a gold standard for data security and requires companies to establish and follow strict information security policies and procedures. 

Andesa retained an independent public accounting firm for its SOC audit work.  The audits included an examination of Andesa’s policies and procedures, system development lifecycle, data centers, logical access, backup and disaster recovery, and other critical operational areas.  Upon the completion of the audits, Andesa received an unqualified opinion demonstrating that their infrastructure, policies, and procedures meet or exceed the strict SOC 1^® and SOC 2^® criteria.  Because SOC 1^® and SOC 2^® independently verify the effective design and operation of Andesa’s control activities and processes, Andesa’s clients can be assured that the highest level of internal controls and security are established and maintained.

“We are delighted to announce the successful completion of our SOC 1 and SOC 2 audits for this year. This milestone reflects our steadfast commitment to upholding the highest standards of security and operational integrity. Our team’s dedication to protecting our customers’ data and ensuring rigorous internal controls is at the core of our mission. We extend our heartfelt thanks to our team for their exceptional efforts and to our clients for their unwavering trust and support.” said Jacqueline Hunter, Enterprise Risk Management Officer and General Counsel. 

About Andesa
Andesa is a leading, employee-owned provider of policy lifecycle solutions for the life insurance and annuities industry that offers modern cloud-based systems for transaction management and recordkeeping.  Through flexible end-to-end lifecycle management solutions, a commitment to data security, and decades of market and product expertise, we help carriers, brokers, key stakeholders, and participants pursue strategic sales opportunities and successfully navigate market changes. For more information on Andesa, please visit www.AndesaServices.com or follow us on X @AndesaServices

Contact:

Cara Bunda
Andesa Services, Inc.
[email protected]
610-439-5249