AutoRek for Insurance Firms
In recent years there has been an increasing demand for granularity of financial data in the insurance world. Accounting developments such as IFRS17 – Insurance Contracts will demand even further scrutiny. An accounting subledger will help to improve the lack of detail, ambiguity, and fragmentation of data within insurers. Insurance subledgers integrate detailed information from core systems to provide detailed and flexible data layers.
AutoRek reconciles critical financial data and provides a robust financial control framework.
AutoRek can help to maintain master data at all stages of the subledger process including;
- Recording and monitoring transactions on a policy basis supporting robust insurance reconciliations, exception management and meaningful MI.
- Structuring data enabling automatic generation of forms, documents and feeds to other internal systems.
- Housing all master data on a policy basis.
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