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Discrepancies caught earlier
Mismatches and missing lines show up as exceptions before month-end, while there's time to take them back to the insurer.
Applied Epic®
Close the month with the exceptions already worked
Your commission statements arrive in multiple formats, and insurance commission tracking software inside Applied Epic matches every statement line to the transaction, and finance validates results.
Every insurer statement arrives in its own format, and month-end doesn’t wait for all of them
Month-end close is a deadline that arrives whether the work is done or not. Statements arrive in different formats on different schedules, each worked by hand. Outsourcing buys a workaround, and late discrepancies delay cash recognition.
Recon in Applied Epic helps you focus on exceptions during the month, so close becomes review-and-approve, and cash is recognized in the month it was earned.
Key benefits
What Recon changes for finance teams
Complete numbers at month-end
The month's commission is complete before reporting on it, so producer and insurer profitability numbers are worth acting on.
No added accounting headcount
The book can grow without the statement work growing with it, so you're not adding accounting staff to keep up.
Records ready for an audit
Every reconciled statement is stored with its own record, so an audit or an insurer dispute doesn't start with rebuilding the file.
Turn any insurer statement into matched entries in your ledger
How it works
Ingest statements in any format
Drag in PDFs, CSVs, spreadsheets, AL3 or scanned paper invoices and commission statements, and AI extracts and cleanses the data before matching. No individual parsing of documents and keying of data.
Match most of the statements automatically
Check policy number, term dates, line of business, pay period and more at once. Full, partial, or complete mismatches are all clearly indicated.
Work an exception in one pass
Open an unmatched commission to see what it should have matched, quickly resolve it, or flag it for follow up.
Close the month with every statement already reconciled
How it works
Approve before anything reaches the ledger
Once you've validated commissions are matched, approve each statement to reconcile to the ledger. Have confidence you are not leaving any money on the table.
Post the finished statement in one click
Finalize or suspend it, then submit straight to the general ledger with no third-party bridge. One click saves hours.
Close direct bill and agency bill together
Run one intake, one matching pass and one posting for both billing types, easing work at month end.
Key features at a glance
Reconciliation is more than the match – it is intake, oversight and the trail you leave behind.
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Statement intake without file handling
Statements arrive by forwarded email or come in from the insurer directly.
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Insurer coverage across the market
Insurers are certified for automated matching ahead of time, and a sample statement adds any that are not.
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Accuracy improves with use
Every match your team approves teaches the next one, including the partial matches manual processes fail on.
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Audited financial controls
Applied Epic carries its own SOC 1 Type 2 report, covering the controls that affect your financial reporting.
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Statement storage and audit trail
Every reconciled statement saves with a unique ID for audits, reporting and book-of-business reviews.
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P&C and benefits together
Both books reconcile in the same place, with no second tool for the benefits business.
AI automation built into Applied Epic
Epic Conductor puts AI to work across the assembly line of insurance, wiring together workflows in placement, servicing, accounting, and renewals to take manual, redundant work out of your day. It runs directly inside Applied Epic, using the data, records, and permissions you already have set up. Your team hands off the rekeying and searching, and spends more time growing the top line and doing the advisory work you know best.
What customers see from Recon
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8+
Weekly reconciliation hours saved
Time saved, on average, with AI matching statement lines in Epic.
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40%
Outsource work returned
Share of direct bill reconciliations outsourced before Recon's automated matching took it back.
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6
Signals behind every match
Policy number, line ID and term dates are among the six data points Recon checks to match statement lines to Epic.
Frequently asked about Applied Epic policy lifecycle management
Commission reconciliation is the process of matching the commission and premium amounts on an insurer’s statement against what’s recorded for the same policy in your broker management system, so the two numbers tie out before the books close. Recon in Applied Epic automates the matching and surfaces only the lines that don’t agree.
AI extracts commission and premium lines from an insurer statement, cleanses the data, and checks each line against the matching Applied Epic transaction on six signals at once – policy number, line ID, pay period, term dates, line of business, and group vs. individual. Finance reviews what doesn’t match automatically and decides what posts.
Direct bill reconciliation typically runs separately from agency bill, with its own tools and its own close. Recon brings direct bill statement matching into the same intake, matching and posting pass as agency bill, so the month closes once. In Canada, most personal lines policies transact through Automated Download Invoicing, and Recon reconciles what those statements report against the transactions on the account.
Yes. Recon ships with a broad, growing list of insurers certified for automated matching, but you aren’t limited to that list. Upload a sample statement from any insurer, confirm the suggested field mapping once, and Recon brings that insurer into automated matching from then on – no waiting on Applied to certify it first.
Yes. Applied Epic falls under Applied's SOC 2 Type 2 audit, which runs semi-annually, and is certified to ISO/IEC 27001. Applied Epic also has its own SOC 1 Type 2 report – the audit covering controls that affect your financial reporting. Applied can provide either report as needed.
Go deeper on Applied Epic policy management
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eBook
AI: Your Co-Pilot in Creating Higher Value at Your Insurance Brokerage
Discover how agents can use AI tools as their co-pilot in insurance, helping you deliver faster workflows, more productivity and superior customer service.
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Webinar
Surpassing Customer Expectations and Enhancing Business Operations
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A Look Inside Our Financial Management Strategy
Watch this on-demand webinar to see where we're taking our suite of financial management capabilities, and how AI built into the workflow is shaping what's next.
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