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Average Ratings 0 Ratings

Total
ease
features
design
support

No User Reviews. Be the first to provide a review:

Write a Review

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

This online platform enables insurance agents to secure policies instantly and in real time. It provides the latest rates from various insurance providers and facilitates policy financing through the agent's preferred Premium Finance Company. Agents have the flexibility to manage sales from any location with internet connectivity at any time. Down payments for policies along with financing transactions are processed electronically, ensuring efficiency. Clients depart from the insurance agency equipped with all necessary documentation related to their insurance policies. Additionally, the point-of-sale system can be integrated within the web applications of insurance companies, enhancing usability for agents and clients alike. This seamless integration streamlines operations and improves the overall customer experience.

API Access

Has API

API Access

Has API

Screenshots View All

No images available

Screenshots View All

No images available

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

Unisoft Communications

Website

www.unisoftonline.com/products/TruePremium.aspx

Product Features

Product Features

Insurance Underwriting and Rating

Broker / Agent Portal
Carrier Upload
Commercial Lines
Comparative Insurance Rating
Customer Portal
For Casualty Insurance
For Health / Medical Insurance
For Life Insurance
For Personal Insurance
Multi-State
Multiple Line Rating

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