Ecliptic Technology and Bottomline Redefine Global Expert Management for Insurers
May 22 2024 - 4:00AM
Bottomline, a leader in business payments and legal spend
management, and Ecliptic Technology, the London Market choice for
global expert management and spend insights, today announced a
strategic relationship to offer the Bottomline Expert Bill Review
solution to insurers using the Ecliptic GEMINI platform to drive
further payments and process improvements for market businesses.
The Ecliptic GEMINI platform is highly popular among insurance
participants. It provides seamless experiences for insurers and
their intermediaries to monitor the engagement, cost, and
performance of global expert spend. Likewise, Bottomline's
market-leading Legal-X offering for Invoice Management and Expert
Bill Review brings a deeper understanding of invoice vetting and
analytics and offers even tighter efficiencies around payment
processing.
The combination of solutions, from two leaders in the specialty
market, results in a unique and unparalleled benefit for insurers:
a faster, more informed, and cost-effective method to assess,
handle and resolve claims and invoices.
Statista predicts that the insurance industry will grow at a
compound rate of around nine percent per year, reaching almost 8.4
trillion U.S. dollars in 2026. Against this backdrop, it is
critical for insurers to leverage all possible insights and cost
control mechanisms available to them.
"Ecliptic is delighted to embark on this transformative journey
alongside Bottomline. This exciting initiative underscores our
commitment to modernizing the insurance industry through innovative
technology solutions and continually adding accretive value for
customers within our insurance solutions,” commented Paul
Bermingham, CEO of Ecliptic Technology.
“Together, our offerings are redefining the landscape of
managing global expert spend,” said Tom Ogburn, Head of Legal Spend
Management at Bottomline. “We're incredibly excited about the
process improvement we can drive together. This relationship not
only enhances value for our existing joint clients, but also
introduces the offerings to the broader insurance and reinsurance
industry in the City of London.”
About BottomlineBottomline helps businesses
transform the way they pay and get paid. A global leader in
business payments and cash management, Bottomline’s secure,
comprehensive solutions modernize payments for businesses and
financial institutions globally. With over 30 years of experience,
moving more than $10 trillion in payments annually, Bottomline is
committed to driving impactful results for customers by reimagining
business payments and delivering solutions that add to the bottom
line. Bottomline is a portfolio company of Thoma Bravo, one of the
largest software private equity firms in the world, with more than
$130 billion in assets under management. For more information visit
www.bottomline.com.
Bottomline and the Bottomline logo are trademarks or registered
trademarks of Bottomline Technologies, Inc.
Contact: Heather Pavliga or Jacqueline
PowellBottomline pr@bottomline.com
About Ecliptic TechnologyEcliptic is a
London-based technology business, offering a highly collaborative
approach to modernizing the world of insurance through technology
solutions. Ecliptic's product portfolio includes LIBRA and ARIES
for Delegated Authority and GEMINI, the expert management platform,
administered on behalf of the Lloyd's and London market. For more
information visit https://www.ecliptic.tech/.
Contact: Tom McArthurEcliptic
Technologymarketing@ecliptic.tech