Insurance

The insurance business is changing. It’s not just customers demanding better rates and options anymore. Insurance companies must now focus on global expansion, increasing competition, and growing regulatory scrutiny across all aspects of the business. You’ve modernized the way you manage customers, policies, referrals, and even commissions. Yet your accountants still rely on manual processes to manage the close. Using hundreds—or thousands—of spreadsheets to reconcile every month is not only time consuming, but also inaccurate. This is hazardous for any industry, but especially threatening to insurance organizations for whom accuracy—and accurate forecasts—are paramount. A spreadsheet-driven close also won’t deliver the holistic picture of your financial foundation. Without real-time visibility into every transaction across every broker and every business unit, key decisions are based on dangerous guesswork. BlackLine helps insurance organizations increase visibility, accuracy, and efficiency in the period-end close—in less time. BlackLine Finance Controls and Automation platform automatically imports data from bank files, POS systems, sub-ledgers, and ERPs. Transactions are matched faster—one million per minute—and with fewer errors, giving accountants time to focus on valuable analysis. Plus, internal and external auditors can access records in real time, from anywhere in the world, without asking for files or waiting on emails.

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