Ascend Announces Strategic Partnership with QuoteWell to Modernize MGA Accounting and Payments Workflows

SAN FRANCISCO, Oct. 15, 2024 /PRNewswire/ -- Ascend, the comprehensive accounting operations platform for insurance, today announced a partnership with QuoteWell, a commercial insurance MGA and wholesale brokerage focused on using technology to make the quoting process for non-admitted markets easier for agents.

With this partnership, agents will experience both a seamless integration of QuoteWell's innovative technology-driven submission and quote process with Ascend's automated payments and financing tools. Together, the two companies will help agencies modernize the complex processes of quoting and binding non-admitted policies, bringing agents closer to the future of fully automated insurance operations.

"Both Ascend and QuoteWell share a common vision-to make the insurance process faster, more efficient, and more transparent for agencies of all sizes," said Joey Bouchard, CEO of QuoteWell.  "The partnership addresses long-standing challenges and enables agents to leverage automation at every step—from submission and quoting to billing and payment—saving time, improving accuracy, and delivering an elevated client experience."

Agencies that leverage the combined solutions will see benefits including:

• Streamlined Workflows: Agents can now complete submissions through QuoteWell's platform and instantly receive agency bill or direct bill payment options from Ascend, allowing them to manage both processes in one seamless experience.
• Faster Turnaround Times: The integrated approach will drastically reduce delays in the submission-to-binding process. QuoteWell's AI-powered platform delivers market-ready quotes within hours, while Ascend automates the often time-consuming tasks of invoicing and payments.
• Financial Transparency: Ascend's technology eliminates manual errors, helping agencies maintain financial accuracy through automated reconciliation for both agency bill and direct bill processes.
• Superior User Experience: By offering agents a complete view of their submissions and quotes through QuoteWell's portal, they can track the entire lifecycle of the submission and payment process without switching between platforms.

"We believe technology should make doing business easier, not more complicated," said Andrew Wynn, co-CEO of Ascend. "By partnering with QuoteWell, we provide MGAs and wholesalers the solutions to not only make it easier to work with trading partners but also allow them to scale effectively with full transparency into their financial operations."

About Ascend

Ascend is a comprehensive accounting automation platform for the entire insurance payment lifecycle including collection, accounting, reconciliation, and disbursement. Businesses using Ascend experience improved operational efficiencies, treasury management, and customer experience - resulting in increased profitability. To learn more about how Ascend can transform your business, please visit www.useascend.com.

About QuoteWell:

QuoteWell is a tech-enabled commercial insurance MGA and wholesale brokerage that specializes in leveraging AI-powered tools to streamline the submission process for agents. Working exclusively through agents, QuoteWell aims to enhance agent efficiency by providing fast, transparent, and responsive solutions for commercial risks. To learn more, please visit www.quotewell.com.

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SOURCE Ascend