Comulate provides an accounting automation platform designed for insurance brokers to streamline complex back-office operations. The platform automates end-to-end processes including direct bill, cash application, and carrier payables, significantly reducing manual workload. This automation delivers revenue intelligence through accurate forecasting, variance tracking, and improved data quality across integrated AMS and ERP systems.
Funding
$20M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
JCQYWVZPFounders
Product
Problem
Insurance brokers face significant manual accounting challenges, particularly with direct bill processes, carrier payables, and revenue tracking, leading to inefficiencies and potential errors. These manual tasks consume valuable time and resources, hindering brokers' ability to focus on strategic growth initiatives.
Solution
Comulate provides an accounting automation platform tailored for the insurance industry, automating direct bill processes, carrier payables, and revenue tracking. The platform captures transaction details from various carrier statements, including spreadsheets, PDFs, and emails. It automatically reconciles transactions to policies within integrated agency management systems (AMS) or enterprise resource planning (ERP) systems and posts reconciliations directly to the ledger. Comulate also offers carrier payables automation to streamline reconciliation, prevent notices of cancellation (NOCs), and manage discrepancies, as well as revenue intelligence features for forecasting and identifying missing commissions.
Target Audience
Comulate targets insurance brokers, particularly those in the top 100, seeking to automate their accounting processes and improve operational efficiency.
Features
- Automated capture of transaction details from diverse carrier statement formats
- Automated reconciliation of transactions to policies in integrated AMS/ERP systems
- One-click posting of reconciliations to the general ledger
- Carrier payables automation for reconciliation and discrepancy management
- Revenue intelligence features for forecasting and variance tracking
- Integration with Epic, BenefitPoint, AMS360, Dynamics, and Salesforce
- Automated flagging of transactions based on receivables statuses
- Automated identification and resolution of billing errors