Aviva adopts AutoRek reconciliation tool

UK insurer Aviva is collaborating with automated reconciliation resolution supplier AutoRek to drive effectivity and compliance.

AutoRek is a monetary and operational reconciliation resolution that leverages clever automation to eradicate guide processes, carry out matching and analyse discrepancies.

By adopting this expertise, the insurer goals to assist a totally audited, rules-driven reconciliation course of for each Shopper Property Sourcebook (CASS) auditors and inner stakeholders.

This collaboration is claimed to supply Aviva an enhanced automated instrument for consumer cash and regulatory reporting by decreasing the danger related to guide processing.

That is stated to spice up operational effectivity, streamline compliance and enhance general monetary management.

Aviva CASS & Center Workplace head Chris Golland stated: “Aviva is devoted to investing in expertise to additional our development technique. Following an intensive tender course of, we had been extremely impressed with the standard of the AutoRek instrument. The implementation of the AutoRek resolution will streamline our processes and permits us to confidently tackle future scalability and quantity necessities.”  

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AutoRek gross sales VP Jack Niven acknowledged: “We’re thrilled to onboard Aviva as a consumer to the AutoRek platform, empowering them to attain better effectivity and accuracy of their operations. Collectively, we’re driving innovation and setting new benchmarks for monetary excellence.” 

Final month, Aviva reached a preliminary deal on the £3.6bn ($4.6bn) takeover of British motor insurer Direct Line.