Saturday, June 3, 2023
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Comulate launches income automation platform

Comulate launches income automation platform | Insurance coverage Enterprise America

Platform claims it could minimize handbook work by as much as 90%

Comulate launches revenue automation platform

Software program supplier Comulate has introduced the launch of a income automation and intelligence platform for giant insurance coverage brokers and companies.

The platform automates direct-bill processes, slicing handbook work carried out by dealer accounting groups by as much as 90%, the corporate mentioned. The software program additionally mechanically identifies lacking commissions and supplies income intelligence by way of real-time forecasting, variance monitoring and different options.

“Dealer CFOs and COOs constantly inform us they’re shedding a number of share factors of income between labor-intensive accounting processes and lacking commissions, particularly inside worker advantages,” mentioned Jordan Katz, co-founder and CEO of Comulate.

Comulate mentioned it labored intently with its preliminary purchasers, utilizing their enter to enhance the platform.

“Agency leaders repeatedly mentioned they couldn’t precisely forecast or observe variance,” Katz mentioned. “In the meantime, producers typically mentioned they lacked visibility to grasp how and for what they’re being paid, decreasing belief and distracting them from promoting and driving top-line development. On many ranges, these income challenges spider-crack all through an company, requiring manufacturing and repair groups to take part within the income course of. Our unbelievable dealer companions have instantly framed our mission to ship world-class income instruments for dealer finance groups.”

Comulate integrates instantly into main AMS, CRM and ERP software program, enabling computerized reconciliation of disparate provider and dealer information and posting of reconciled transactions to an company’s ledger, the corporate mentioned. The platform additionally improves AMS information high quality by permitting accounting groups to mechanically replace coverage information primarily based on data current in a provider assertion.

“Comulate can hook up with a number of company administration techniques and create a uniform income automation and intelligence layer by auto-routing income and driving visibility of income in actual time,” Katz mentioned.

“The worth Comulate has delivered to our agency is past any software program I’ve seen in the marketplace,” mentioned Kamini Patel, director of enterprise operations for Cobbs Allen/CAC. “We obtain provider statements as PDFs and spreadsheets. Prior to now, it may take hours to totally course of a few of them. Now we add all of these on to Comulate, and inside seconds, the software program extracts and auto-reconciles commissions to insurance policies after which posts to Utilized Epic.”

Patel mentioned that Cobbs Allen/CAC had already diminished handbook direct-bill work by greater than 85% – and this continues to enhance every month. 

“Comulate has really solved what everybody mentioned there was no hope of fixing,” she mentioned. “We went from planning to rent extra devoted folks for this position to considerably decreasing the time it was taking our already-stretched-thin group. Comulate modified the equation.”

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