Incoming Email on Custom List - Update Item's column value

Hello SharePoint Gurus - Is it possible to update the item's certain column value based on Incoming email on the list? If Incoming Email has Subject 'Approve', I need to update the status to Approve. If incoming email has subject 'Reject', I need to update the status Reject and also Update Comments Column that is describe reason to reject in email.

Thanks,

Khushi