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About

Functional Finance is the insurance billing and payments engine that governs how money actually moves once a policy decision is made. Sitting between the policy system and the general ledger, FF takes policy events—binds, endorsements, cancellations, reinstatements—and deterministically executes the resulting financial obligations. It handles billing and invoicing, payment collection, cash application, treasury routing, and distribution partner payables across agency bill, direct bill, installments, and premium finance models. Payments are automatically applied at the policy and line-item level, commissions and remittances stay in sync, and every transaction remains auditable over time. The result is a policy-aware flow-of-funds system that replaces manual reconciliation with predictable, scalable financial operations.

About

You need them all in today's insurance market. Whether you're managing the full product life cycle, launching new products, or mining your commercial data, we have the management system to get you there, quickly, reliably and at a cost you can afford. Underwriting can be obvious or highly complex. Which risks would you rather have your insurance underwriters evaluate? With our policy admin platform, you can build virtually any type of insurance product using a rich library of bureau content as the starting point, and configuring your own custom rates, rules, and forms. It's a policy administration system that delivers on its promises: speed, reliability, and low entry cost. Instec provides a timely, accurate, and flexible insurance billing solution to support a wide variety of payment plans, billing types and commission options, and with easy access to commercial data you have all the information you need to effectively manage your cash flow.

Platforms Supported

Windows Not Supported
Mac Not Supported
Linux Not Supported
Cloud Supported
On-Premises Not Supported
iPhone Not Supported
iPad Not Supported
Android Not Supported
Chromebook Not Supported

Platforms Supported

Windows Not Supported
Mac Not Supported
Linux Not Supported
Cloud Supported
On-Premises Not Supported
iPhone Not Supported
iPad Not Supported
Android Not Supported
Chromebook Not Supported

Audience

Managing General Agents (MGAs), Insurance Carriers, Risk exchanges and MGA platforms, Finance, operations, and billing teams

Audience

Insurance agencies searching for a solution to manage their operations

Support

Phone Support Not Supported
24/7 Live Support Not Supported
Online Not Supported

Support

Phone Support Supported
24/7 Live Support Supported
Online Supported

API

Offers API Not Supported

API

Offers API Not Supported

Screenshots and Videos

No images available

Screenshots and Videos

Pricing

No information available.
Free Version Not Supported
Free Trial Not Supported

Pricing

No information available.
Free Version Not Supported
Free Trial Not Supported

Reviews/Ratings

Overall 0.0 / 5
ease 0.0 / 5
features 0.0 / 5
design 0.0 / 5
support 0.0 / 5

This software hasn't been reviewed yet. Be the first to provide a review:

Review this Software

Reviews/Ratings

Overall 0.0 / 5
ease 0.0 / 5
features 0.0 / 5
design 0.0 / 5
support 0.0 / 5

This software hasn't been reviewed yet. Be the first to provide a review:

Review this Software

Training

Documentation Not Supported
Webinars Not Supported
Live Online Not Supported
In Person Not Supported

Training

Documentation Supported
Webinars Not Supported
Live Online Not Supported
In Person Supported

Company Information

Functional Finance
United States
functionalfi.com

Company Information

Intsec
United States
www.instec-corp.com/our-insurance-platform/

Alternatives

William

William

Certifi

Alternatives

BindExpress Suite

BindExpress Suite

SpeedBuilder Systems
BindExpress Suite

BindExpress Suite

SpeedBuilder Systems
TIS

TIS

Comtec Global
InsureEdge

InsureEdge

Damco Solutions
Diamond Billing

Diamond Billing

Insuresoft

Categories

Insurance Billing Supported

Categories

Insurance Supported
Insurance Billing Supported
Insurance Policy Supported

Insurance Policy Features

Cancellation Tracking Not Supported
Claims Tracking Not Supported
Policy Generation Supported
Policy Issuance Supported
Policy Processing Supported
Quotes / Estimates Supported
Rating Engine Supported
Reinstatement Tracking Not Supported
Reinsurance Administration Not Supported
Renewal Management Supported
Underwriting Management Supported

Integrations

No info available.

Integrations

No info available.
Claim Functional Finance and update features and information
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