Sourcing the policy through multiple channels introduce complexities in reconciliation with data in non-standardised format
Complex reconciliation requirements at multiple levels including brokerage reconciliation & dealer payout reconciliation.
Integration - Reconciliation solution needs to be integrated with multiple source systems internal as well as external
Large volume of transactions including Brokerage, re-insurance income & dealer payments etc. Reconciling these transacations manually can be time consuming & error prone
Timely & accurate reconciliation is required to avoid potential financial losses
Increased regulatory oversight requires an accurate and compliant reporting process