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Average Ratings 0 Ratings

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ease
features
design
support

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Description

Functional Finance serves as the engine for insurance billing and payments, managing the flow of money once a policy decision is finalized. Positioned between the policy management system and the general ledger, it processes policy events such as bindings, endorsements, cancellations, and reinstatements, executing the corresponding financial commitments with precision. The system adeptly oversees billing, invoicing, payment collection, cash application, treasury routing, and the payables for distribution partners, accommodating various models like agency bill, direct bill, installments, and premium financing. Payments are systematically applied at both the policy and line-item levels, ensuring that commissions and remittances remain aligned while maintaining an auditable trail for every transaction. Consequently, this results in a financial operations system that is aware of policy details, replacing the need for manual reconciliation with streamlined and scalable processes that enhance operational efficiency. Ultimately, the integration of these functionalities fosters a more reliable and transparent financial environment within the insurance sector.

Description

Grappler is an innovative cloud-based accounting automation tool specifically designed for the international insurance industry, effectively tackling the back-office difficulties encountered by syndicates, managing general agents (MGAs), service firms, cover holders, agencies, and insurers. This software enhances decision-making by providing essential financial metrics, aiding in strategic planning for the future, and facilitating ongoing forecasting efforts. By utilizing automation and advanced machine learning techniques, Grappler streamlines manual reconciliation tasks, which boosts accuracy and expedites the alignment of payments with policies. Notable functionalities include the automation of daily, monthly, and annual closing processes to mitigate risk and strengthen control; the modernization of legacy bordereaux document workflows to ensure clear visibility of cash positions; the eradication of unallocated cash and clarification of debtor statuses; and the provision of comprehensive dashboards, analytics, and reporting capabilities for all ledgers, which highlight unallocated cash, debtor positions, and customer performance metrics. Furthermore, Grappler empowers users by presenting actionable insights that drive better financial management and operational efficiency in a rapidly evolving insurance landscape.

API Access

Has API

API Access

Has API

Screenshots View All

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Screenshots View All

Integrations

No details available.

Integrations

No details available.

Pricing Details

No price information available.
Free Trial
Free Version

Pricing Details

No price information available.
Free Trial
Free Version

Deployment

Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook

Deployment

Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook

Customer Support

Business Hours
Live Rep (24/7)
Online Support

Customer Support

Business Hours
Live Rep (24/7)
Online Support

Types of Training

Training Docs
Webinars
Live Training (Online)
In Person

Types of Training

Training Docs
Webinars
Live Training (Online)
In Person

Vendor Details

Company Name

Functional Finance

Country

United States

Website

functionalfi.com

Vendor Details

Company Name

Grappler

Founded

2015

Country

United States

Website

www.grappler.io

Product Features

Product Features

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