Blitz Insurance, a specialty insurance carrier, and Ascend, a first-of-its-kind insurance payments platform, have announced a strategic partnership aimed at modernising payment experiences for insurance brokers in specialty markets.
The collaboration intends to unlock new customer segments by offering direct bill and premium financing into Blitz Insurance’s payments workflow. This partnership ensures an improved payment experience and operational cost efficiency.
Blitz Insurance provides bespoke insurance products for niche markets, while Ascend automates the entire financial operations cycle, including collections, financing, carrier, and commission payables.
By utilising Ascend, Blitz Insurance extends its network of appointed brokers, simplifying a traditionally large operational task. This includes the real-time attribution of payments to policies, speeding up the reconciliation process, and providing a top-tier experience for brokers and agents.
Blitz Insurance Chief Distribution Officer Brandon Murphy said, “When we looked into the market for a solution, Ascend was the right choice. Ascend meets our needs for a better payments experience for our partners while reducing everyone’s operational expenses. We will now have the ability to not only expand to direct bill and a premium finance option but also simplify the movement of money between us and our partners.”
Andrew Wynn, co-CEO of Ascend, commented, “We find that across the insurance ecosystem – companies want to provide a seamless payment workflow for their customers and their teams. Ascend is built so brokers and carriers can offer this experience without shouldering the administrative resources and costs needed to support these operations.”
This partnership represents a significant advancement in InsurTech, as it integrates Blitz Insurance’s specialty insurance knowledge with Ascend’s cutting-edge payment solutions, fostering seamless payment workflows.
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