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Average Ratings 0 Ratings

Total
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

InsureBill serves as an all-encompassing billing solution tailored to effectively oversee the revenue aspects of insurance companies. It accommodates both individual and multiple policy accounts, facilitates various payers for policies, and includes non-premium billing elements such as deductibles, claim payments, recoveries, and subrogation. The platform boasts an extensive range of features that enhance cash flow while delivering timely, comprehensive, and seamless reports that boost overall efficiency and productivity levels. With its remarkable flexibility and user-friendly design, InsureBill streamlines operational cycles, resulting in increased productivity among internal staff and lowered operational expenses. The system enables teams to manage a greater volume of transactions without increasing headcount, achieving a higher level of efficiency in the process. Furthermore, InsureBill's exceptional scalability and adaptability ensure that it can grow alongside organizations, making it a crucial consideration when assessing potential returns on investment. This adaptability not only meets current demands but also prepares businesses for future challenges in the ever-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

Ebix

Founded

1976

Country

United States

Website

www.ebix.com/Billing

Product Features

Product Features

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