Ascend, a financial operations automation platform, has forged a significant agreement with NFP, a dynamic player encompassing property and casualty brokerage, benefits consultancy, wealth management, and retirement planning advisory services.

This partnership entails the implementation of Ascend’s cutting-edge billing technology platform by NFP, promising a transformative, all-encompassing solution for insurance clients, catering to their financing, collections, and payables needs.

Underpinning this collaboration is Ascend’s tailored technology, meticulously designed to cater to the intricate landscape of the insurance distribution sector.

By embracing Ascend’s innovative solution, NFP stands to reap substantial benefits. This strategic move allows NFP to bid farewell to the labor-intensive challenges associated with premium collection, premium financing, and carrier payables, ushering in a new era of streamlined efficiency.

Ascend co-CEO Andrew Wynn said: “Our engagement with NFP is a significant step towards achieving our goal of modernising the financial infrastructure of the insurance industry.

“We are committed to delivering a best-in-class experience to NFP and their clients by enhancing the speed and efficiency for managing their accounting and payments workflows.”

At its core, Ascend functions as a pioneering financial operations automation platform, seamlessly streamlining the myriad tasks revolving around account receivables and payables within the agency bill workflow.

From the intricate intricacies of collections to the complexities of premium financing and the intricacies of carrier payables, Ascend takes the reins on time-consuming and operationally taxing processes that characterise the intricate dance of premium and commission movement throughout an agency.

This innovative platform goes above and beyond by offering real-time visibility into the payment workflow, endowing insurance organisations with the tools to bolster profitability.

With Ascend as an ally, the insurance industry witnesses a paradigm shift, as operational efficiency is elevated to new heights, enabling organisations like NFP to navigate the ever-evolving landscape with unprecedented confidence and success.

NFP M&A integration management Dan Salomon said: “NFP’s deployment of Ascend’s all-in-one payments solution across the NFP ecosystem will help streamline the insurance life cycle billing and payments process and enhance our clients’ experience.”