As part of the agreement, NFP will deploy the Ascend billing technology platform to offer its insurance clients and automated, all-in-one solution to financial collections and payables.
By leveraging Ascend technology in the insurance distribution channel, NFP receives access to a solution that eliminates the hurdles associated with premium collection, premium financial and carrier payables.
Furthermore, Ascend is a financial operations automation platform that streamlines all account receivables and payables related tasks in the workflow. The firm handles parts of the process that take time and money and provides real-time transparency into the payment workflow and allows companies to be more profitable.
“Our engagement with NFP is a significant step towards achieving our goal of modernising the financial infrastructure of the insurance industry,” stated Andrew Wynn, co-CEO of Ascend. “We are committed to delivering a best-in-class experience to NFP and their clients by enhancing the speed and efficiency for managing their accounting and payments workflows.”
“NFP’s deployment of Ascend’s all-in-one payments solution across the NFP ecosystem will help streamline the insurance life cycle billing and payments process and enhance our clients’ experience,” said Dan Salomon, M&A integration management, NFP.
Tech team up
Recently, solutions firm Fatbrain AI has announced a new distribution agreement with Appulate for its IntellAgent Advisor AI Sales Enablement service.
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FatBrain AI’s distribution partner Appulate provides software that digitises insurance transactions across agency brokers distribution/MGA and carrier systems over 18 years.
Furthermore, it reaches nearly 300,000 users at 35,000 agencies, connected with 150 carriers. Also it enables 240,000 insurance requests per year with over $3bn in premiums per year.
FatBrain AI released its latest product IntellAgent Advisor, a sales enablement tool for agents. The solution aligns and enhances the underwriting knowledge, the agent-client experience and FatBrain’s existing innovation ecosystem.