ReSource Pro and Ascend Unveil AI-Enhanced Direct Bill Commission Reconciliation
ReSource Pro, a provider of technology and operations solutions for the insurance sector, has expanded its Direct Bill Complete service by integrating AI-driven automation technology from Ascend. This enhanced platform addresses the complexity and inefficiency insurance brokerages face when reconciling direct bill commissions, which involves processing thousands of diverse statements monthly from numerous carriers. The integration aims to streamline commission reconciliation, reduce manual labor significantly, and improve data accuracy.
Direct Bill Complete leverages AI to accelerate transaction matching and decrease human involvement by up to 95%, offering brokerages notable cost savings estimated between 20% to 50%. By enhancing operational workflows, the solution also provides actionable visibility into commission revenues, assisting agencies in financial oversight and risk reduction. This capability is critical given the resource-intensive nature of manual commission reconciliation in the insurance distribution channel.
The collaboration between ReSource Pro and Ascend combines advanced automated technology with expert human service, addressing the nuances of brokerage operations. This fusion supports clients in resolving transaction discrepancies more efficiently, unlocking capacity within internal teams to focus on strategic growth initiatives. The partnership also reflects broader industry trends towards integrating AI and automation to optimize back-office insurance finance functions.
ReSource Pro is continuing its strategy of introducing technology-enabled solutions targeted at improving insurance processes. Earlier in 2024, it launched Premium Audit Complete, aimed at transforming the premium audit process through automation and expert support. Additional developments are underway in areas such as policy servicing, certificate management, and analytics, signaling ongoing innovation in operational efficiency for insurance organizations.
Ascend’s AI platform enhances operational efficiencies by automating repetitive manual tasks across invoicing, accounting, and reconciliation processes. The managed delivery model offered through the partnership with ReSource Pro is designed to scale effectively, expanding access to automated solutions for insurance brokerages nationwide. This development underscores the growing adoption of AI technologies in insurance finance and operational management.