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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

The easiest method for gathering insurance payments involves accepting online credit card and ACH transactions. This approach accelerates the collection process, hastens policy binding, and delivers a delightful experience for your clients. Designed specifically for the insurance sector by industry professionals, ePayPolicy offers an uncomplicated solution for agents, brokers, MGAs, and premium finance firms to gather payments electronically. You can seamlessly collect credit card and ACH payments from insured clients through a personalized payment page with a distinctive URL. This system not only facilitates the collection and transfer of funds within the insurance realm but also offers additional functionalities once integrated with your management software. Effortlessly collect digital payments from insured clients and easily transfer them to your broker and MGA partners. ePayPolicy aims to eradicate the need for paper checks, providing a streamlined, insurance-focused solution that allows for efficient digital payment collection and fund distribution throughout the industry. By simplifying these processes, ePayPolicy enhances overall operational efficiency for all parties involved.

API Access

Has API No 

API Access

Has API No 

Screenshots View All

No images available

Screenshots View All

Integrations

AIM No 
Applied Analytics No 
BindHQ No 
Vertafore AMS360 No 

Integrations

AIM Yes 
Applied Analytics Yes 
BindHQ Yes 
Vertafore AMS360 Yes 

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Pricing Details

$20 per month
Free Trial No 
Free Version Yes 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Customer Support

Business Hours No 
Live Rep (24/7) No 
Online Support No 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Types of Training

Training Docs No 
Webinars No 
Live Training (Online) No 
In Person No 

Types of Training

Training Docs Yes 
Webinars Yes 
Live Training (Online) Yes 
In Person No 

Vendor Details

Company Name

Functional Finance

Country

United States

Website

functionalfi.com

Vendor Details

Company Name

ePayPolicy

Founded

2014

Country

United States

Website

epaypolicy.com

Product Features

Product Features

Insurance Agency Management

Claims Management No 
Commission Management Yes 
Contact Management Yes 
Document Management No 
Insurance Rating No 
Life & Health No 
Policy Management Yes 
Property & Casualty No 
Quote Management No 

Integration

Dashboard Yes 
ETL - Extract / Transform / Load No 
Metadata Management No 
Multiple Data Sources No 
Web Services No 

Payment Processing

ACH Check Transactions Yes 
Bitcoin Compatible No 
Debit Card Support Yes 
Gift Card Management No 
Mobile Payments Yes 
Online Payments Yes 
POS Transactions No 
Receipt Printing No 
Recurring Billing Yes 
Signature Capture No 

Recurring Billing

Customer Portal Yes 
Deferred Billing No 
Discount Management No 
Dunning Management Yes 
Invoice History No 
Multi-Currency No 
Multi-Period Recurring Billing Yes 
Payment Processing Yes 
Recurring Donations No 
Subscription Billing Yes 

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