Ellerbrock-Norris reduced time spent reconciling direct bill policies by 90%
Decrease in time spent on reconciliations
Carriers automatically matched and reconciled
policies processed a month
About Ellerbrock-Norris
Founded in 1906 in Hastings, Nebraska, Ellerbrock-Norris began as a commercial insurance agency. Over the years, the firm has experienced significant growth, expanding its presence with strategically located offices in Omaha, Kearney, and Lincoln, Nebraska. These locations enable Ellerbrock-Norris to deliver exceptional service to its valued clients.
Today, Ellerbrock-Norris is a nationally recognized risk advisory firm, dedicated to helping clients manage risks and achieve long-term financial goals. Committed to continuous innovation and improvement, the firm evolves to meet the dynamic needs of its clients.
Challenges
As it grew, Ellerbrock-Norris saw a growing number of carrier commission statements that had to be reconciled manually. The only way to have full financial visibility into all of the incoming and outgoing transactions was to download and match commission statements line by line across thousands of policies at the end of each month - a task taking up more and more of the team's time that could be spent elsewhere.
Ryan Corcoran
CFO
Solution
Ascend was implemented to automate Ellerbrock-Norris' direct bill reconciliation process. By leveraging AI, carrier statements were uploaded and automatically parsed, matched, reconciled, and posted back into Applied Epic - allowing the accounting staff to only focus their time on fixing discrepancies instead of reconciling all policies line by line. After 3 weeks of onboarding and training, this new process was rolled out to the entire team and across 120+ carriers.
Results
The accounting team saved 90% of their time previously spent on manual reconciliations. What used to be a process that involved the team manually reviewing every policy, the team now leverages technology to reduce the time spent on low-value transaction work so the team can dedicate more time on high priority growth and strategic projects.
Ryan Corcoran
CFO
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