Premium & Claims Reconciliation demo
Agents match premium, claims and reserve figures from every system to the ledger, explain each break, and queue the fix. 1:15
What the demo shows
A reconciliation solution for insurers that matches premium, claims and reserves to the ledger.
Six agents load the policy, billing, claims, reinsurance and reserving extracts at 06:00 on day one, tie each to its ledger account and match the lines. The unmatched lines are clustered by cause (timing, mapping, manual journal, currency), so in the sample case a $2,131,418.62 case reserve break resolves to three manual journals instead of 40,318 lines: a documented top-side, a duplicate reversal and a recoverable booked to the wrong account. The controller approves the two drafted entries, the tie closes with one explained item, and the signed pack goes to internal audit.
Transcript
- Premium & Claims Reconciliation ties premium, claims and reserves to the ledger for insurers.
- At every close the systems disagree with the ledger, break surface on day five.
- Day one of Larchsburg Mutual's quarter close, six of ten ties are out.
- Case reserves are out $2.1 million across 40,000 lines.
- The cause finder sorts them, timing and mapping lines net to zero.
- The whole 2.1 million collapses into three manual journals.
- A documented topside, a duplicate reversal, and one posted to the wrong account.
- Teodora approves two entries, and the case reserve tie closes, explained.
- Breaks found and explained on day won a close, each tied to its source records.
- Built on Botminds: agents, data, screens, and governance on one platform.
Transcribed from the film’s narration. Captions are on the player.