Case Study: Global Mutual Insurance Company achieves 90% reduction in manual exceptions and a 2-day faster month-end close with SS&C Technologies' SaaS Recon

Large global insurance company gains substantial savings and shorter closing cycles with new, best-in-class SaaS reconciliation solution

Global Mutual Insurance Company, a large international insurer working with several dozen custodian banks, was struggling with an outdated, error-prone holdings and positions reconciliation process. Custodian data (settlement date) didn’t align with the investment accounting system (trade date), partial files across geographies caused thousands of breaks, and complex transformation tools made daily and month-end reconciliation slow, manual and risky. The client engaged SS&C Technologies to modernize reconciliation using a co‑sourced SaaS Recon solution.

SS&C Technologies deployed Recon in a SaaS configuration from its data center, normalizing and automating data feeds, adopting a point‑in‑time/trade‑date approach, and delivering workflow, matching and dashboarding capabilities. The solution went live in three months and immediately reduced month‑end close by two days, cut manual exception investigation by 90%, lowered operating costs, improved controls and scalability, and provided real‑time reporting and redeployable resources.