Key Challenges of Reconciling Insurer Statements

Historically the insurance industry has been slow to embrace new technologies emerging from the age of robotics, AI and machine learning. That said, the insurance industry is under continuous pressure to achieve greater efficiencies and implement automated reconciliation processes.

The strain of COVID-19 has resulted in many firms implementing automated solutions for critical business processes at a much faster pace than anticipated.

Preparing and analysing data is highly time consuming and particularly so in the Insurance industry as data is often fragmented or inconsistent.

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Our latest webinar discussed the difficulties in operating manual excel reconciliations including:

  • Multiple formats
  • Difficult and time-consuming analysis
  • Out of date data

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