Insurance firms seek faster reconciliation turnaround times

Speed and cost efficiency drive adoption of reconciliation solutions.

The insurance sector is increasingly turning to reconciliation solutions, now accounting for 12% of vendor clients in this area, according to a recent report by Firebrand Research. David Runacres, President of APAC at Broadridge Financial Solutions, highlighted the key factors behind this trend: speed and cost efficiency.

“I think there's two things. One is speed. I think most of our customers, including insurance, are looking for faster turnaround and also efficiency,” said Runacres during Sibos 2024 in Beijing. He noted that the need for quick reconciliation processes is critical for insurers as they seek to optimise their operations.

Cost considerations also play a significant role in the insurance sector’s adoption of these solutions. “Cost is always going to be a factor for our customers, and to be able to drive more cost-effective reconciliation is just as true for the insurance sector,” Runacres explained.

Follow the link for more news on

insurance

Also Read

WTW debuts new insurance brokerage service in Japan

Prudential appoints Patrick van Heerde as chief partnership distribution officer

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit