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Effective Practices for Exception Tracking

Oct 4, 2021
Effective Practices for Exception Tracking

Exception tracking is the activity of tracking documents and policy exceptions, whether they occur during the loan origination or registration process or whether they occur on an ongoing basis after an account has been established. Exception tracking and practical management is a crucial components of powerful risk management for insurance providers.

Techniques to Track Exceptions

1. Tracking Exceptions by Spreadsheet

With spreadsheets, your company relies on staff to analyze incoming reports and data collected in either paper records or a document management system (DMS). The possibility that forms enter the DMS and miss out on the team that handles the exception tracking spreadsheet is excellent, resulting in inconsistent record keeping. Even very reliable staff who define these problems still consume a meaningful amount of time managing and controlling the spreadsheet and then manually composing lender and management records on a timely basis.

2. Tickler Tracking System

Tickler Trackers are typically stand-alone applications with more finesse than a spreadsheet. An insurance provider adds a document or reminder to the tickler tracker about when a record lapses or when something extra is required in the file. The tickler operation returns the notice to the queue to be fixed at the designated day and time. Tickler tracking methods have a more limited risk for data damage and provide for composed reports. Tickler systems do not resolve the difficulties of operating in siloed systems; therefore, the uncertainty of incoming messages bypassing the unit that handles the tickler system is still possible. This indicates that the document administration system and the tickler tracking method can frequently be out of sync.

Integrated Document Management and Exception Management Systems

The best opportunity for accurate and effective exception tracking is a method that combines record archival and exception tracking. By combining record imaging with exception tracking, exceptions are removed as records are consolidated to the document management system (DMS).

Document information, like the active and closing dates that have to be solicited for the document management system (DMS) anyway, is the same significant information that stimulates exception tracking. The method to be implemented works as the document archival or with one that compares to and completely integrates with your record archival. The documents information can be leveraged to stimulate exception tracking whether the tracked element is for a one-time report. This can be in cases such as absent registered deed of trust, or whether the track needed for an open-ended tracked document, like yearly financial reports.

Exception Reporting Tools

  • Acknowledging exceptions that could point to loss – like incomplete documents, missing insurance. Tools that classify exceptions into risk ranges, can be utilized to stratify examination and reporting. It may be more beneficial to list only significant exceptions to the board and superior leadership. This assures that the senior managers and leaders are concentrated on the most important exceptions.
  • Customizing reporting to suit the audience. For example, statements for account officers or lenders could be arranged by the borrower or account holder. This will facilitate the officer to quickly analyze all issues with their clients when beginning a business call.
  • Account statements may also need a more profound level of detail than administration reports. Reviewing reports to ensure they are informational and well-organized. Each worker is being pushed to be more productive, and giving them quality and timeline data will make it more comfortable for all units to operate together.


Exception Management is a critical task across the insurance. All too often, insurance providers fail to make a conscious decision on efficiently tracking and managing exceptions. This points to diverse, time-consuming processes. Selecting an intended exception tracking method for an organization requires analyzing solutions that combine records with exception tracking to automate many associated systems.

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