Subjects: PDT, LIC
Ascend Launches E&S Billing Product for MGAs and Wholesalers
SAN FRANCISCO, May 28, 2024 /PRNewswire/ -- Ascend, the leading financial operations automation software for insurance, today announced the launch of its E&S Billing product, explicitly designed for MGAs and wholesalers to automate billing, payment, reconciliation, and reporting needs unique to those operating in non-admitted markets. This solution will help solve the growing demand for efficiency and ease of doing business between trading partners within the rapidly expanding E&S sector.
Ascend's billing solution aims to enhance profitability and growth among wholesalers and MGAs by integrating all financial processes into a unified platform. After an initial launch with several select partners, Ascend is now rolling this solution out to all MGA and wholesalers in the E&S market.
Key Benefits:
- Increase operational performance: Allows businesses to focus on their core competencies of distribution and underwriting instead of financial operations, improving revenue and growth
- Comprehensive Automation: Increases the speed at which transactional workflows, including billing, collections, and reconciliation, occur, while also providing a single unifying view for all money moving in and out of businesses
- Pre-Built Reporting: Delivers comprehensive, ready-to-use reports for bordereaux, commissions, and other critical financial metrics, ensuring accurate and timely data insights.
- Offer Direct Bill to Grow Appointments: Enables intermediaries to make it easier to trade with any retailer by offering agency bill and direct bill billing methods to make it easy for their customers to choose what works best for them.
"Efficient billing is crucial for more satisfying transactions, easier revenue booking, and sustainable operations," stated Spencer King, Head of Sales, MGA and Wholesaler at Ascend. "Our unified payments platform enhances financial operations and provides a competitive edge by simplifying interactions between wholesalers, MGAs, and retail agencies."
About Ascend
Ascend is the leading industry solution that automates and unifies the entire insurance payment lifecycle across billing, collections, reconciliation, and disbursements under one platform. Agencies, MGAs and wholesalers use Ascend experience to improve operational efficiencies, treasury management, and customer experience - resulting in increased profitability. To learn more about how Ascend can transform your business, please visit www.useascend.com.
Press Contact
Mike Nguyen
SOURCE Ascend
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