Flock selects Scottish fintech AutoRek
Flock is an innovative firm all about reinventing business models around insurance. They are looking to build a global, fully digital insurance company for connected commercial vehicles to mitigates risk, rather than just paying claims.
AutoRek was chosen by Flock because of its flexibility.
Flock will be using AutoRek to:
- Automate bordereau, bank and payment reconciliation requirements
- Calculate broker payments to generate statements to brokers and paid bordereau
- Take various external data sources from other insurance organisations, as well as from the general ledger
- Underpin Flock’s Insurance Broker Accounting (IBA) operations
Gordon McHarg, CEO at AutoRek, added,
“It is excellent to have Flock come on board as a new client. We are delighted to be seen as a flexible and adaptable tool to help fast-growing companies like Flock scale their business. We look forward to continuing this partnership over the coming years.”
Piers Williams, Insurance Lead at AutoRek, added,
“We are excited to work with Flock, they are disrupting the insurance industry with innovative new products. Behind their exciting business is a foundation of leading software solutions that are enabling the business to achieve its objectives. Flock will be deploying AutoRek’s bordereau reconciliation and financial control solution to deliver end-to-end automation.”