Autorek to streamline insurance payments for JP Morgan customers

credit: Shutterstock
credit: Shutterstock

Insurtech Autorek has revealed it is joining forces with JP Morgan Payments to help insurance firms and customers overcome complex data issues. 

The AutoRek solution aims to bring efficiency to financial data flows from banking sources, to help clients solve challenges associated with cash allocation, matching and credit control. 

This collaboration aims to unlock new market opportunities for insurance firms, helping them to overcome data challenges and provide a more connected and streamlined infrastructure.

Piers Williams, AutoRek Global Insurance Lead, added: “It’s fantastic to be working with J.P. Morgan Payments in this market-first initiative.

“We are proud of this partnership, which presents a powerful combination of proven solutions, and will deliver optimal results for clients in the insurance market.

“By working together, we will unlock many opportunities for insurance firms to streamline the premium receivables process. This will help them to increase efficiency, accelerate cash flow, reduce write-offs and enhance controls.”

This complements existing solutions of J.P. Morgan Payments provides benefits for clients utilising Autorek’s solution alongside global capabilities offered by the payments provider.

Globally, J.P. Morgan Payments combines treasury services, trade and working capital, card and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world. 

Darren Snoxell, Head of Insurance, EMEA at J.P. Morgan Payments, said: “We are excited to collaborate with AutoRek to help our clients tackle some of the challenges associated with complex premium processing and cash allocation. 

“Working with a specialist company like AutoRek will complement our existing solutions to help deliver an end-to-end solution across the entire insurance value chain. 

“Together, we will deliver tangible benefits to brokers, carriers, reinsurers, multinational insurance programs, captives and across the London Market. We look forward to working with the team.”