Financial Management
4 Minute Read
AI-Powered Insurance Accounting Automation with Applied Recon
Date Published: October 21, 2025
By: Nashib Qadri
Reconciling financial transactions can be an overwhelming task for agency finance teams. It consumes a lot of time and resources. But it doesn’t have to be that way. Applied Recon, natively embedded into the Applied Epic® General Ledger, can help your insurance agency with advanced accounting automation.
You may have heard at Applied Net that we have an exciting product in the works that will match and reconcile policies and transactions from carrier statements to those in the system, a task that that finance teams spend significant effort on a monthly basis.
Consolidate, Automate, and Save in Your Systems
Applied Recon is an AI-powered statement recording and reconciliation product. It allows users to simply upload direct or agency bill statements in PDF, XLSX or CSV formats and leverages AI to extract data for matching and reconciliation to policies and transactions in Applied Epic.
Consolidating accounting workflows in a single and secure system eliminates the need for multiple reconciliation tools, not to mention reducing administrative overhead. Some organizations dedicate entire teams or outsource to BPOs at a significant cost. Manually collecting, processing, and reconciling can consume 15 hours or more per week for multiple teams. What could you do with an extra 15 hours each week?
Reducing manual work while ensuring teams are paid accurately and efficiently will lower back-office costs and accelerate profitable revenue growth for your agency.
Key Benefits
Automate recording and reconciliation of direct bill commissions and agency bill payables to pay producers and carriers faster. Fully embedded in Applied Epic, you won't have to juggle multiple systems, which helps you reconcile faster and smarter.
Get accurate financial data automatically, streamline your operations, and reduce the hours of manual work each week without having to add new tools or vendors. This reduces the time and money needed to train teams on third-party tools and manage additional security protocols. All of the reconciliation workflows happen natively in Epic, giving you faster yet less complex cycles.
Nobody wants to be slowed down or damaged by errors and duplicates. With this AI-driven cleansing and advanced matching, your technology will learn and improve over time. As you grow, your solution will grow with you. Native AI means fewer errors and a better return on investment.
Key Features and Capabilities
Let's jump into some of the key features of Applied Recon that will help agencies automate their accounting workflows in efficient, timely, and effective ways.
Statement Processing & Data Extraction: Drag and drop carrier commission and payable statements in a variety of formats, such as PDFs, XLSX, CSVs, or scanned documents (coming soon), and allow the AI engine to get to work. The technology extracts, cleanses, and validates information from insurance documents like dates, premiums, policy or plan numbers with 99% accuracy. It doesn't matter how you receive payable statements, and you no longer have to keep multiple systems open to store information.
Advanced Data Matching: AI will match statement data to Applied Epic transactions using six signals, which accelerates reconciliation even with partial matches. Plus, the system remembers and learns from previously approved matches, so your technology will learn and grow as your agency does. Consider this flexible design as a way of futureproofing your tech since it continues to add new matching criteria.
Statement Storage & Identification: Importing and storing data doesn't need to be confusing or complicated. Every reconciled statement with Applied Recon is saved and tagged with a unique ID. This provides you with clear and traceable records for audits, reporting, and book-of-business management.
Native General Ledger Integration: Click only once to submit statements to the Applied Epic General Ledger for suspended or reconciled statements. Watch your operational efficiency grow and back-office costs decrease to drive more revenue. This also speeds up workflows and allows data to be updated and stored faster.
Human-In-The-Loop Oversight: The power of AI in this solution will automate many tasks, like extraction, matching, and reconciliation, However, finance teams will remain in control with the ability to review, validate, and approve at every stage. It helps to ensure accuracy and confidence in the final output.
Broad Carrier Coverage: Working with many carriers? Applied Recon supports 90% of your transaction volume across certified P&C and Benefits carriers for direct and will do the same for in 1H 2026 agency billing.
Preparing for AI-Powered Reconciliation
Get ready to experience an AI-powered reconciliation product that consolidates accounting workflows in a single, secure system, which eliminates the need for multiple tools and reduces administrative overhead. We're excited to provide a solution for one of the most time-consuming tasks for agency finance teams, and turn this into a process that's less stressful and more efficient. With Applied Recon's AI built directly into Applied Epic, financial reconciliation is faster, more secure, and smarter. Are you looking to learn more?
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Nashib Qadri
Vice President of Product Management & Development
Nashib Qadri is a seasoned product management and development executive currently serving as the Vice President of Product Management & Development at Applied Systems, a role he has held since May 2023. In this capacity, he leads the company's product and development teams, focusing on delivering innovative financial management solutions in the insurance technology sector.
Prior to his tenure at Applied Systems, Nashib held significant leadership positions in various organizations. He served as the Vice President of Product & Design at Pi by Paytm, where he concentrated on developing fraud prevention tools and led product management and design teams. His career also includes roles as Senior Director of Product Management at Loblaw Digital, Director of Product Management at Paymentus and ecobee, and various positions at IBM over a decade where he made the transition from software development leadership to product management.
