Insurance carriers often utilize multiple accounting and invoicing systems to administer their loss sensitive programs. Though each platform plays an important and distinct role, these systems often struggle to handle the complex calculations, numerous data feeds and inherent timing issues. The result oftentimes leads to out-of-balance accounting situations that, if left unmitigated, can create material accounting issues.

Leveraging its technology and subject matter expertise, Paragon has developed a means to efficiently reconcile loss sensitive programs. Its software utilizes information from disparate sources to eliminate false positives and timing issues while bringing focus to a smaller subset of accounts that need to be analyzed in detail. Paragon’s experienced staff then uses its proprietary tools to research the specific out-of-balance and identify the appropriate correction. This information is then reported to the customer in a way to take specific action to ultimately resolve the issue.

The result is an efficient, ongoing solution that ensures the systems supporting the invoicing and accounting of the loss sensitive program remain in balance.