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
Insurers turn to tech amid disruption and payouts
In this video, Piers Williams, Insurance Relationship Manager at AutoRek and James Birch, Head of Innovation at Brit Insurance, discuss the challenges insurers are facing and partnerships between insurers and insurtechs in a coronavirus environment.
Achieving effective data management in the insurance industry
In 2020 there is a significant opportunity for the insurance industry to unlock the potential of the data available and change the somewhat frustrated historical relationships firms have previously had with their data. This content highlights how insurers can achieve effective data management.
Webinar: Key challenges of reconciling insurer statements
The insurance industry is under pressure to achieve greater efficiencies and implement automated reconciliation processes. This webinar discusses the difficulties in operating manual excel reconciliations and why many insurers are prioritising automated solutions for critical business processes.
Case study: AutoRek for IFRS 17 reconciliations
This case study outlines the requirements of IFRS 17, how the AutoRek solution can help overcome these challenges and the benefits that our client, a major international underwriter, receives after implementing our solution.