A faster close for financial institutions

Trintech For Insurance Accounting Teams

Create a financial close process to support the evolving accounting requirements of the insurance industry.

Insurance Accounting Teams Deserve More

As insurance organizations grow, transactional volumes increase with overall offerings, and the back-end processes become more complex. While front of office utilizes automation technology to process claims, assess risk, and enhance customer experience, the finance back office is often behind the curve, relying on manual methods, causing delays and increasing risk.

Trintech’s solutions allow you to automate reconciliation and transaction matching processes of claims and refunds, increase visibility into activities to achieve an easy audit with a comprehensive audit trail, and manage risk to ensure you are compliant with all necessary regulations.

Timely, Accurate Reporting

Comprehensive Workflow Management

Streamlined, Automated Processes

TRINTECH ADDRESSES COMMON ACCOUNTING CHALLENGES

Audit Trail and Documentation

Multiple systems, large volumes, and manual processes coupled with complex regulatory requirements create a challenge to keep a comprehensive audit trail and sufficient documentation.

Lack of Visibility & Insights

Lack of visibility due to multiple systems on top of little time available to take part in value-added activities due to the lack of standardization and significant time spent on manual tasks.

Extensive Manual Processes

Manual financial processes can lead to errors and strain on the workforce, which causes difficulty in retaining talent and an inability to adapt to changing regulations.

Compliance & Reporting

Reporting regulations and standards add complexity, such as the new IFRS 17 requirement. Careful attention to detail and a thorough understanding of the requirements are required, which is time-consuming.