Insurity, a P&C insurance firm, has announced significant enhancements to its Billing-as-a-Service platform, positioning it as a lower-cost alternative to running billing operations internally.
The expansion has been driven by a persistent belief across the insurance sector that in-house billing is the most economical option for carriers and MGAs.
Insurity said this assumption often overlooks hidden costs tied to staffing, reconciliation, compliance oversight and ongoing system maintenance, which can make internal billing far more expensive than anticipated.
The enhanced Billing-as-a-Service product centralises payments, collections and reconciliation within a single, standardised platform. Built on a cloud-native architecture, the service features deeper enterprise-grade banking integrations and a modern user experience intended to support scale, performance and evolving payment requirements. Customers operate on a shared services model that supports direct bill, agency bill and more complex billing structures without the need for bespoke development.
As transaction volumes increase, Insurity said the cost per transaction declines, enabling insurers to grow without adding billing staff or infrastructure. The platform removes reliance on fragmented and highly customised systems, which are often costly to maintain and difficult to adapt as business needs change.
The product is supported by partnerships with a tier-one global banking institution and specialist providers covering payment processing, lockbox services and document management. This integrated ecosystem is designed to handle complex transaction flows while scaling alongside customer growth. Faster onboarding also allows insurers to launch new lines of business quickly and begin issuing and collecting premiums without establishing internal billing teams.
The update reflects Insurity’s broader focus on supporting customers that are prioritising growth and policy issuance over back-office administration, with the company positioning Billing-as-a-Service as a way to reduce operational friction and improve time-to-cash.
Insurity vice president and senior business unit leader David Giacomini said, “Many smaller carriers, mutuals, and MGAs believe billing is cheaper to manage internally until they fully account for staffing, reconciliation work, compliance oversight, system upkeep, and delayed time-to-cash. Insurity Billing-as-a-Service gives carriers and MGAs a straightforward replacement. We take full ownership of billing operations and deliver it at a lower total cost, while providing the transparency and flexibility real-world insurance workflows demand.”
Insurity president Jatin Atre said, “Our customers are in growth mode. They want to issue more policies, not manage billing infrastructure. Insurity Billing-as-a-Service gives them a clear economic advantage by providing a smarter alternative to costly, in-house billing. It reduces operating costs, simplifies financial operations, and more importantly, removes the friction that slows down producers and policy issuance.”
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