With this collaboration with Ascend, Blitz will open customer segments by offering both direct bill and premium financing into payment workflows.

The insurtech is now able to provide a direct bill in addition to existing agency bill workflows. Utilising Ascent expands the Blitz footprint of appointed brokers and also adds administrative efficiency by automating a large operational undertaking.

Furthermore, Ascent automatically attributes incoming payments to policies in real time, speeding up the reconciliation process.

“When we looked into the market for a solution, Ascend was the right choice. Ascend meets our needs for a better payments experience for our partners while reducing everyone’s operational expenses,” said Brandon Murphy, chief distribution officer of Blitz Insurance. “We will now have the ability to not only expand to direct bill and a premium finance option but also simplify the movement of money between us and our partners.”

“We find that across the insurance ecosystem – companies want to provide a seamless payment workflow for their customers and their teams,” added Andrew Wynn, co-CEO of Ascend. “Ascend is built so brokers and carriers can offer this experience without shouldering the administrative resources and costs needed to support these operations.”

With regards to automation and AI, GlobalData surveying indicates that over half of industry insiders believe artificial intelligence (AI) applications, such as ChatGPT, will cause an increase in cyberattacks.

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By GlobalData