Vouch Deepens Integration with Ascend to Automate Financial Operations, Support Growth
SAN FRANCISCO, Sept. 7, 2023 /PRNewswire/ -- Vouch, the leader in business insurance for VC-backed startups, has deepened integrations with Ascend, the first financial operations automation platform built for insurance, to enhance operational efficiency and support growth ambitions in 2023 and beyond.
Being the industry-leading solution of financial operations automation, Ascend will not only simplify billing, financing, payables and reconciliation workflows, but it also integrates directly into Vouch's agency management system (AMS) to allow servicing and finance teams full visibility into the status of all policies.
"Similar to the startups we work with who try to disrupt and innovate within their industries, we also wanted to rethink how to solve some of the underlying complexities all insurance companies confront when dealing with collecting and reconciling premiums from customers," said Joe Magdovitz, VP, Head of Finance at Vouch. "Ascend's end-to-end automation platform not only eliminates these administrative burdens, but allows us to integrate directly into our existing tools to empower existing softwares like our AMS."
Ascend automates accounts receivable (AR) and accounts payable (AP) responsibilities in the agency bill lifecycle. From invoicing to premium financing to carrier payable, Ascend simplifies the workflows involved whenever premiums and commissions are handled by brokerages. With this unified workflow, Ascend is able to provide real-time transparency by connecting with agency management systems and ledgers to ensure all teams are in sync with the status of all payments.
"We are more than excited to partner with Vouch to help them do what they do best - insure the startups building the companies of tomorrow," said Andrew Wynn, Co-CEO of Ascend. "Our partnership with Vouch pushes the envelope to define what it means to design a fully integrated financial operations process and showcases how efficient a fully integrated tech stack for insurance can be."
Vouch Insurance Services, LLC (NPN # 19039391) and Vouch Specialty Insurance Services, LLC (NPN # 19926463) are licensed in the states in which they conduct business. Detailed license information is available at https://www.vouch.us/licenses.
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