AutoRek
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.
All content by AutoRek
Insurance and data management: Five key points to streamline your financial data management to increase profitability
Developing more effective financial data management processes is a top priority across the modern insurance landscape, but legacy system issues need to be addressed first. This blog provides some top tips on how insurers can streamline financial data management and increase profitability.
Video: Transforming financial data management in insurance
In today's fast-paced insurance industry, accessing reliable and accurate data is vital both for informing decision-making and meeting regulatory obligations. Watch our latest video to discover how AutoRek can help insurers on their journey to transforming data management.
Factsheet: The challenges of insurer statements
The processing of insurer statements continues to rely heavily on manual processes on a monthly basis, causing a number of challenges around efficiency, accuracy and control. This content highlights eight common insurer statement challenges that insurance firms face on a monthly basis.
Transform your data in three steps
This short paper outlines how insurance providers can transform their data based on three simple principles - aggregation, enrichment and validation.
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.
Are insurance intermediaries prepared to go under the FCA spotlight?
It will not have escaped the attention of insurance brokers that Christopher Woolard, interim CEO at the FCA wrote a specific letter to general insurance intermediaries concerning adequate client money arrangements. This blog highlights how insurance brokers can minimise regulatory attention.
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 insurer statement reconciliations
This whitepaper looks in detail at the challenges inherent in reconciling insurer statements, the benefits of automation and how AutoRek can help at each stage in the process, from data sourcing and matching right through to reporting.
AutoRek for intermediaries, MGAs and brokers
Designed for intermediaries, MGAs and brokers, this content focuses on how AutoRek delivers a robust automated financial control framework that reduces operational risk, enhances control and delivers efficiencies.
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.