Reconciliation Solution for Insurers

With rising regulations, insurance firms must streamline accurate, compliant financial reporting amidst complex, time-consuming reconciliations.

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Common Use Cases Of Data Reconciliation In Insurance

- Reconciliation helps verify financial transactions, ensuring that accounting records match with actual financial activities.
- It assists in identifying discrepancies in ledgers, bank statements, and financial reports.

-Helps ensure that the number and terms of policies issued align with the records.
- Validates policy data, including coverage, premium amounts, and policyholder information.

- Validates the premium amounts collected from policyholders against policy terms and payment schedules.
- Ensures timely and accurate premium collections.

- Verifies the validity and accuracy of insurance claims against policy terms and coverage.
- Helps prevent fraudulent claims and ensures timely processing.

-Ensures that the designated beneficiaries receive the correct payouts as per policy agreements.
- Validates beneficiary information and disbursements.

- Reconciliation between different branches or entities within the same insurance company.
- Ensures consistent and accurate financial reporting across the organization.

- Validates commissions and fees paid to insurance agents and brokers.
- Ensures accurate compensation for intermediaries.

- Verifies the calculations and payments related to annuity contracts.
- Ensures compliance with contractual terms for annuitants.

Our Key Clients

Our Reconciliation method

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Benefits of using Taxilla's Insurance Reconciliation Solution

Transform and Automate

enReconcile is designed to revolutionize and automate end-to-end data operations within the insurance industry, streamlining your processes and increasing efficiency.

BPM and Workflow Integration

Orchestrate your reconciliation tasks seamlessly using Business Process Management (BPM) and workflow integration, ensuring smooth and structured operations.

Flexible Source System Integration

Set up effortless integrations with source systems while maintaining complete control over data formats and types, ensuring compatibility and data integrity.

User-Controlled Templates

Empower your users with customizable reconciliation templates and configurable criteria, tailoring the solution to meet specific needs and preferences.

Collaborative Capabilities

Collaborate efficiently with both internal and external business partners, facilitating communication and data sharing for enhanced teamwork.

Advanced Matching Algorithms

Benefit from automatic clearance based on business rules, advanced fuzzy matching algorithms, and the option for manual intervention when needed, ensuring accurate reconciliation.

Delight your customers and partners

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Enhanced customer experience and satisfaction

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Drive partner

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Better KPIs with across the board

Frequently Asked Questions