SAN FRANCISCO, Sept. 7, 2023 - 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 payables, 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."
About Ascend
Ascend is the industry-leading provider of financial operations automation software, dedicated to modernizing the insurance industry's financial infrastructure. Ascend is the only solution designed to enhance agency management systems by streamlining the insurance life cycle for agency bill processes. By eliminating manual back office accounting tasks, improving cash collection cycles, and providing a best-in-class customer experience, Ascend significantly increases the productivity, efficiency, and profitability of agencies and brokerages. To learn more about how Ascend can transform your business, please visit www.useascend.com.
About Vouch
Vouch is a leading business insurance provider to high-growth tech and life science companies. Since 2018, Vouch has enabled clients to master insurance through specialized expertise, innovative pricing and underwriting strategies, quick digital-first procurement, and adaptable coverages. Find out more at www.vouch.us.
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.
Contact:
Mike Nguyen
press@useascend.com
SOURCE Ascend
