The insurance industry handles large volumes of financial transactions, including premium collections, claims payouts, payment provider settlements, commissions, and reinsurance agreements to name a few. Managing multiple data sources, different payment schedules, and complex regulatory requirements can lead to discrepancies and inefficiencies in the reconciliation process.

Yes, Aurum Solutions can seamlessly integrate with your existing policy management, payment provider, premium financers, claims, and financial systems. We have 600 APIs that can connect with various platforms, ensuring a smooth flow of data across your entire organisation.

Aurum's powerful reconciliation platform automates the matching of premium payments with records on your insurance administration platform. This reduces the risk of missed payments, ensures accuracy in financial reporting, and helps insurance companies stay compliant with regulatory standards.

Our solution enables insurers to efficiently match claims data with payouts, helping reduce manual processing time, eliminate errors, and ensure that all claims are processed accurately and on time. This improves customer satisfaction and optimises resource allocation.

Aurum Solutions ensures the proper reconciliation and safeguarding of client funds, such as premium payments and claims settlements, in accordance with regulatory requirements. Our platform aligns with CASS 5 regulation by ensuring that all client money is accurately accounted for, reducing the risk of errors, mismanagement, or regulatory breaches.

Our solution provides detailed audit trails, precise reporting, and thorough verification processes, ensuring compliance with IFRS 17. This enables insurance companies to meet regulatory standards, maintain transparency, and reduce the risk of financial penalties.

Reinsurance often involves complex calculations and the exchange of large sums of money. Aurum automates the reconciliation of these transactions, reducing manual intervention, lowering error rates, and increasing transparency between primary insurers and reinsurers.

Aurum Solutions helps insurance companies improve operational efficiency, reduce manual workloads, ensure compliance, minimise errors, and provide more accurate financial reporting, leading to cost savings and better decision-making.