Automate your financial operations on one platform

The smart way to manage billing, invoicing, and reconciliation for MGAs, Wholesalers and Insurers.

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Automate billing and invoicing
Integrate with your PAS, AMS & ERP
Real-time data and reporting

Seamless operations from startup to scale-up

Functional Finance helps you get operations right.

MGAs

Streamline invoicing, premium collection, and payables

Book a demo

Wholesalers

Automate collections, commissions, and admin tasks.

Book a demo

Insurers

Optimize premium collection, disbursements and financial performance.

Book a demo

Get paid, pay, and reconcile faster

Focus on growth and automate the rest.

Money in

Get paid faster

Create any payment plan, streamline premium collection and simplify the reconciliation process on all invoices.

Automated billing and invoicing
Seamless collection
Real-time reconciliation
Dashboard

Enhance visibility

Understand your program at a more granular level and give your distribution partners and markets access to their book of business with you.

Live dashboards
Custom views
Partner portal
Money out

Simplify commissions and premium payables

Manage commissions and payments with auto-generated statements and real-time data. Choose between using your existing bank process or our payout service.

Automatic commission statements
Flexible payouts
Instant payables creation

Purpose-built for insurance operators

By insurance technology innovators
Meet the team

Rashmi Melgiri

Co-Founder & CEO

"We’ve walked in your shoes and are uniquely positioned to make managing finances as easy as possible."

Tony DeGangi

Co-Founder & CTO

"Our engineers are unmatched in solving insurance finance challenges, delivering cutting-edge solutions for success."

Operations everyone can count on

Select a role

Chief Financial Officer

CFOs gain full control and visibility over financial processes with real-time data and reporting. Functional Finance provides a clear line of sight into finances and FP&A, enabling better strategic decision-making with end-to-end automation, robust financial controls, and built-in compliance features.

Operations Manager

Functional Finance simplifies and automates daily financial tasks, enabling operations and accounting managers to work more efficiently. With near real-time data synchronization and automated workflows, back office managers can eliminate manual data entry and reduce errors, refocusing their time on more strategic initiatives and projects.

IT

Functional Finance simplifies the IT team's workload by offering seamless integration with existing systems, essential security features, and scalable solutions. Our platform's API and data mapping capabilities ensure smooth data flow between AMS, PAS, data warehouses, and G/L systems, minimizing downtime and reducing maintenance efforts.

Distribution Partner

Distribution partners get unparalleled access to critical financial data, enhancing transparency and collaboration with their MGAs, wholesalers and capacity providers. With a user-friendly interface and detailed reporting, distribution partners can easily track transactions, monitor financial performance, and ensure timely payments. Functional Finance fosters stronger partnerships within the distribution ecosystem by serving as the system of record for payment data related to policies.

Insured

Policyholders can easily access up-to-date information on their policies and make payments directly through the platform. This streamlined process enhances convenience and transparency, making it easier for individuals to manage their payment obligations and stay informed about the financial status of their coverage.

Modern operations teams run on Functional Finance

Innovators and industry leaders use Functional Finance to run healthier businesses.

Customizable with the ability
to scale

"Automating our financial operations was a requirement as we launched and evolved our operating model. Functional Finance was the right partner to integrate with due to their 100% configurability and utilization of the latest technology. They give us the confidence to scale our business without increasing our back office expense or operational complexity to support that growth."

Cole Riccardi, Authentic
Founder & CEO

Ease of use

“It gave me great peace of mind to use the Functional Finance platform for an easy checkout experience for our customers today, while offering a simple toggle switch when we are ready to distribute our products through agents. And it was so valuable to not have to put resources toward checkout, billing, payables and reconciliation.”

Blair Baldwin, Boundless
RiderCo-founder & CEO

Streamlined and tech-forward

“Their platform is so much more than simple payment processing or premium financing, which don't address the back office problem. Automating FinOps, from our policy admin to our accounting system, including all billing and reconciliation, allows us to focus on scaling our business while having real time data visibility to help us optimize our business operations.”

James Whitcomb, Frontier Risk
CEO

Built-in insurance expertise

“Working with previous payment vendors that don't specifically service the insurance world, it was nearly impossible for them to understand our unique requirements and workflows. There's a ton of complexity in terms of accepting payments, splitting them into the right operating and trust accounts, and dealing with reconciliation for payments. Functional Finance understands all of this and has mapped their system to our needs in a highly effective manner.”

Marc Frenkel, Coterie Insurance
Chief Financial Officer

Save an average of $15 per invoice

Designed to help you speed up and save money to run your business.

FAQs

What is Functional Finance?

Functional Finance is a SaaS platform designed to automate billing, reconciliation, and money movement for MGAs, wholesalers, and carriers. It enhances efficiency and financial clarity with features like digital invoicing, omnichannel payments, automated payables, treasury management and comprehensive reporting (to name a few).

What billing modules and payment plans are supported?

Functional Finance is the only platform that supports any module or plan. We handle all payment combinations, including direct bill, agency bill, net or gross commission, installment payments, and pay-in-full options, giving your customer the flexibility to pay how they want and freeing you from the headache of managing it all.

Will Functional Finance replace my back office team?

No, but it significantly reduces their workload. Functional Finance automates many tedious tasks such as billing, payments, and reporting, allowing your back office team to focus on higher-value activities. This efficiency boost means your team can accomplish more in less time, enhancing overall productivity.

How do you protect your customers' data?

We combine enterprise-class security features with comprehensive audits of our applications, systems, and networks to ensure customer and business data is always protected. We are SOC II Type 2 certified to protect your business and your customers.

How long does it take to get started?

Implementation can be completed in as little as 6 weeks, tailored to your operation's complexity. Our process includes a deep dive into your workflows, precise configuration of policy line items and products, and seamless setup of technical requirements.

Will the platform work with all my systems & apps?

Yes. Our solution seamlessly integrates with any tool, including policy admin systems, general ledgers, and other components of your tech stack. Some customers even eliminate costly tools during onboarding. We guarantee a smooth workflow without any disruption to your current set up or workflows.

What resources are available to customers?

All Functional Finance customers have access to a dedicated Customer Success Account Manager. You'll receive prescriptive guidance, custom training, hands-on configuration, tech support, and comprehensive implementation services to ensure your team is set up for success from day one.

I’m ready to get started. What are next steps?

We’re excited to get you started! Your first step is to schedule a live demo with us to discuss your needs. After answering all your questions, we’ll provide a custom quote, and put you on the fast-track to streamlined financial operations. Fill out the form to book your free demo at your convenience.

Resources

Functional Finance Secures $20M Series A Funding

Led by Walkabout Ventures, the $20M Series A funding fuels platform expansion and strategic hiring as premium payment volume surges 2,500% YOY.

Read more
Starting an MGA: The Critical Building Blocks of a Highly Effective Tech Stack

When setting up a Managing General Agent, keep things simple, efficient, and focused.

Read more

In the press