Case Study: Leading Multi-Line Insurance Company achieves regulatory compliance and automated financial reconciliation with Precisely

How a Leading Insurer Leveraged Data Quality to Ensure Regulatory Compliance

Leading Multi-Line Insurance Company, a top-20 U.S. publicly held multi-line insurer, faced significant data quality and internal control gaps during a migration from mainframe to distributed systems that threatened SOX and NAIC MAR compliance and timely, accurate regulatory reporting. To standardize controls and automate reconciliation across environments, the insurer selected Precisely’s Data360 for enterprise data governance and automated data quality monitoring.

Precisely implemented Data360 to extend proven mainframe reconciliation rules into distributed systems, automate interface and financial account balancing, centralize control results, and deliver real-time metrics, workflows and audit trails to data owners. The solution replaced manual balancing routines with automated controls, improved visibility into system-to-system transfers, accelerated reconciliations, met all goals and timeframes, and was adopted as a model for other core system projects—substantially reducing compliance risk and improving auditability and reporting.