Case Study: Top 20 Multi-Line Insurance Company achieves automated end-to-end financial reconciliation and improved operational efficiency with Precisely Data360

Improved operational efficiencies through end-to-end financial reconciliation

Top 20 Multi-Line Insurance Company, serving more than 4 million customers across multiple states, faced a strategic migration from mainframe to distributed systems that exposed gaps in their financial reconciliation controls. They needed an automated, enterprise-wide solution for interface balancing and financial account reconciliation to replace manual controls, reduce risk and costs, and meet SOX and Model Audit Rule (MAR) compliance—choosing Precisely and its Precisely Data360 product after a thorough build vs. buy evaluation.

Precisely implemented Precisely Data360 to deliver an automated, standardized end-to-end reconciliation process—balancing 100% of transfers, providing a central control repository, workflows and audit trails, and real-time dashboard visibility. The deployment reduced manual errors and process costs, accelerated reconciliations and exception remediation, improved operational and audit efficiency to support SOX and NAIC MAR compliance, and provided a scalable model for expansion into other core systems.