Andesa Completes SSAE 16 SOC 1 And At Section 101 SOC 2 Examinations
Andesa Services, Inc. is a leading provider of comprehensive, integrated policy administration, plan administration and support solutions for life insurance and annuity carriers and producers.
These independent third-party examinations, conducted by a certified public accountant (CPA) firm, provide assurance to Andesa clients that the company’s business process and information technology controls are suitably designed and are operating effectively for the period covering Oct. 1, 2014 through Sept. 30, 2015.
The American Institute of Certified Public Accountants (AICPA) “Service Organization Control” (SOC) reporting framework governs both SOC 1 and SOC 2 reporting. SOC 1 reporting uses the SSAE 16 professional standard and is focused on reporting on controls relevant to financial reporting. SOC 2 reporting is performed in accordance with AT 101 and is based upon Trust Services Principles, with the ability to test and report on the design (Type I) and operating effectiveness (Type II) of a service organization’s controls. The SOC 2 report focuses on a business’s non-financial reporting controls as they relate to one or more of the following principles: security, availability, processing integrity, confidentiality, and privacy of a system.
Andesa’s SOC 1 (Type II) and SOC 2 (Type I) reports provide a thorough examination of the design and operating effectiveness of Andesa’s internal controls as they relate to the financial reporting of user organizations and the design of controls relevant to non-financial reporting.
“As a firm, we have invested significant resources into maintaining and improving our internal control environment in order to provide our clients with systems that both meet their business needs and ensure the security of their data with which we are trusted. Our 2015 SOC 1 and SOC 2 examinations provide an independent and comprehensive assessment of our internal controls that enable our valued clients to place confidence in our SaaS applications and infrastructure,” said Tony Biancamano, Andesa Services’ Risk Management Officer.
About Andesa Services
Andesa Services provides comprehensive, integrated policy administration, plan administration and support solutions for life insurance and annuity carriers and producers. Andesa began as a pioneer in the field of SaaS policy administration. Today, more than 30 years later, we provide seven of the top 13 life and annuity carriers and several top brokers with a comprehensive suite of services backed by decades of proven, practical expertise in the life insurance industry. Andesa’s highly experienced team of U.S.-based professionals is made up of devoted client advocates who help insurers large and small save time, reduce risk and tap unrealized value.
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