Insurance

The insurance industry is inherently volume heavy and exceedingly competitive. Our insurance clients are constantly pushing the envelope to stay competitive by maximizing return and minimizing transactional expense and policy cost footprint. Often times to gain competitive advantage insurance companies develop a suite of home-grown products and systems that are unique to the marketplace. ReconArt’s ability to work with these systems and capture the pieces that comprise the Insurance product puzzle contribute to the tremendous value our system adds to the Insurance reconciliation space.

ReconArt is very conscious to understand that everyone’s needs in the industry space are

“All the employees are becoming very comfortable with ReconArt and loving it more and more every day.”

Diane Chaidez
Director of Accounting Operations
Fiesta Insurance Franchise Corp.

unique. ReconArt provides a 360-degree transparent reconciliation record and complete auditability. Whether viewed from the standpoint of a provider, franchise, agency, producer, intercompany or cash perspective, we offer the tools that will bring confidence that no policy, claim, premium or partner has slipped through the cracks. Coupled with the ability to reconcile all investment positions, the ReconArt offering provides a turn-key reconciliation software solution to our insurance clients.

Here is a sampling of the reconciliation types and processes supported out-of-the-box in our unified, web-based solution:

 

Here is a sampling of the reconciliation types and processes supported out-of-the-box in our unified, web-based solution:

 

  • Accounts Receivable
  • Trust Accounts
  • Investment Reconciliations
  • Claims Reconciliation
  • Producer and Vendor commissions
  • Bank and Cash deposits
  • Operating Account Reconciliation
  • Intercompany

 

Period-end review and attestation of the balance sheet accounts across multiple companies and currencies, SOX compliant GL reconciliations.
Financial Close Management

Reconciliation Tools for the Insurance IndustryWhile the functional breadth of the solution is substantial, implementation and deployment is simple and can occur rapidly facilitated by our zero-footprint, unified, web-based solution. We have implemented ReconArt financial close management in as little as two weeks from kickoff to go-live using our hosted, SAAS model. Our expertise in the insurance reconciliation space has benefited our clients tremendously with low, fixed cost implementations and immediate ROI.

 

Insurance companies who chose ReconArt represent the expanse of the industry. From nationwide retail franchises to large, single focus auto insurers with national and international range. All use our system to service a large portfolio of insurance products as well as cash and balance sheet reconciliations.

 

Having worked closely with our insurance industry clients, we very much consider ourselves active partners in addressing the insurance communities’ reconciliation challenges. We are privileged to play a key role in many organizations’ operations. We hope you will take the time to explore our solution and hope you will invite us to add value in your environment.

Have questions?
Want to see a demo?
We are here to help.
Contact Us
You will receive a prompt
and hassle-free
response.
arrows


Ready to get started?