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What is Functional Finance?

Functional Finance acts as the pivotal mechanism for managing insurance billing and payments, efficiently handling the monetary transactions post-policy decisions. Situated between the policy management system and the general ledger, it expertly processes policy-related events such as bindings, endorsements, cancellations, and reinstatements while executing financial obligations with accuracy. This system skillfully manages billing, invoicing, payment collection, cash application, treasury routing, and payables for distribution partners, accommodating diverse models including agency billing, direct billing, installments, and premium financing. Payments are meticulously applied at both the policy level and individual line items, ensuring that commissions and remittances are consistently aligned while providing a clear audit trail for each transaction. As a result, this creates a financial operations framework that is inherently aware of policy specifics, replacing cumbersome manual reconciliation processes with streamlined, scalable practices that significantly boost operational efficiency. The seamless integration of these functionalities not only enhances reliability but also promotes a transparent financial landscape within the insurance industry, ultimately contributing to improved stakeholder trust.

What is EIS BillingCore?

EIS provides a modern and thoughtfully crafted SaaS platform for billing and invoicing that enables insurance companies to effectively oversee their billing processes across diverse customer segments and product ranges. Explore the features of EIS BillingCore, tailored for forward-thinking insurers, as it streamlines critical billing operations, transforming them into routine tasks that require little input from agents. By promoting a seamless end-to-end billing experience, BillingCore not only boosts operational efficiency and improves cash flow transparency for insurers but also simplifies the payment process for all stakeholders involved. Whether it connects with the comprehensive EIS Suite or integrates with other essential systems for claims and policy administration, BillingCore is equipped with numerous standout features that establish it as the leading choice for managing insurance billing. Achieve complete visibility over billing cycles for every customer demographic and product line, ensuring that each invoice aligns with policy requirements for uniformity and regulatory adherence. This cutting-edge platform greatly minimizes manual workload, allowing insurance professionals to concentrate on providing outstanding customer experiences while enhancing overall productivity. Overall, EIS BillingCore represents a significant advancement in the insurance billing landscape, making it an indispensable tool for modern insurers.

Media

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Media

Integrations Supported

EIS Suite

Integrations Supported

EIS Suite

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Functional Finance

Company Location

United States

Company Website

functionalfi.com

Company Facts

Organization Name

EIS

Date Founded

2008

Company Location

United States

Company Website

www.eisgroup.com/digital-insurance-solutions/billing-management/

Categories and Features

Categories and Features

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