AutoRek is an automated Insurance financial controls and data management solution that can automate reconciliations, create sub-ledger and accounting frameworks, assist digital sign off and attestation from which MI and regulatory reporting can be generated.

AutoRek is a fully tailored solution to meet your organisation specific requirements. AutoRek is more than a financial controls and data management solution, we understand that data in the Insurance industry can often be challenging to work with, as a result we have extensive data transformation capabilities built into the solution. This allows us to ingest data from any source in any format. A core principle of AutoRek is End-to-end process automation. Benefits include increased efficiency, greater control and full audibility.

The solution harnesses the latest trends in technology such as ML, RPA, OCR and Cloud to name a few.

Deployments with existing clients in the Insurance Industry vary and a few examples are:

• Bank Reconciliations
• Insurer Statement Reconciliations
• Broker Statement Reconciliations
• Bordereau Financial Controls & Reconciliations
• Cash Allocation
• Balance Sheet Reconciliations
• Account Attestation and Digital Sign off
• IFRS 17
• Data Migration

To understand how the solution could assist your business, please get in touch to arrange a confidential discussion with our team of Insurance experts.

Automating insurance reconciliations in 2021

In 2021, insurers must focus on being both digitally-enabled and data-driven in order to remain competitive and succeed. This content focuses on how an end-to-end automated reconciliation solution can deliver significant cost reductions for insurers whilst making spreadsheets a thing of the past.

No-code financial controls and reconciliations

Insurers accept the need to invest in future infrastructure, however they are less willing to accept the significant time scales often required for initiatives to be delivered. This paper looks at how no-code financial controls and reconciliations remove these challenges and provide agile solutions.

Automated insurance reconciliations

Reconciliations are a vital part of the insurance industry, yet many firms still use manual tools such as Excel to perform these key financial controls. This content sheds light on how AutoRek’s feature-rich reconciliation software solution can help insurers transform their reconciliation processes.