Home›Insurance›Industry & Deals›Vertafore launches AI Reconciliation Agent for carrier…

Vertafore launches AI Reconciliation Agent for carrier-statement matching

The new tool is designed to automatically align carrier statements with agency transactions, aiming to reduce manual reconciliation work and improve commission and payables accuracy.

Reported · Written up by our desk · Industry & Deals

Reconciliation is a critical, time consuming workflow for insurance organizations, helping agencies confirm that carrier statements match internal records, including commissions and payables. When even small discrepancies arise, teams must investigate across multiple systems, which can delay financial visibility and slow month end close.

Vertafore says the Reconciliation Agent, part of its Vertafore Velocity AI Platform, is designed to automate much of the matching process for insurance accounting workflows. It analyzes transaction data, identifies likely matches, and flags items where expectations require additional attention from accounting teams.

The company positions the agent as a way to reduce reliance on manual processes such as reviewing statements, comparing transactions, and validating commissions. Vertafore adds that the approach is meant to streamline reconciliation, improve financial accuracy, and increase confidence in day to day operations, as insurance teams face growing transaction volumes and complexity.

More like this

Sources