Overview
Functional Finance is a single solution for all things money-movement in insurance. Automate your payments workflow and back-office billing and accounting, with everything from financing to payables, refunds, money movement, checkout and month-end reconciliation all in one platform.
Key Features
Configurable billing logic
Every payment plan is available, including direct bill, agency bill, mortgage bill, installment plans, pay-as-you-go, variable billing (for usage-based policies), and embedded premium financing.
Real-time reconciliation
Automatic reconciliation between invoices and payments, with a built-in crediting system for overpayments and return premium.
Seamless integrations
Functional Finance integrates with your policy admin, agency management, accounting, and banking systems, or can be used standalone.
Best-in-class security
Private data is secure and confidential with SOC 2 Type II compliance, flexible access control, encrypted credentials, and a team with decades of experience at leading organizations like Microsoft, Google, Amazon, Stripe, and MIT.
Key Benefits
Improve liquidity with tailored payment plans, collection workflows, and instant reconciliation
Keep your books accurate and up to date, eliminating the delays and errors that come with manual data entry and batch reconciliation
Give each distribution partner their own self-serve billing and payments portal, reducing service calls and emails
Focus on selling and scale effortlessly with automated back-office reporting and money movements
Eliminate the need for multiple integrations with a one-and-done solution for billing, payments, and reporting