Sunday, June 23, 2024

Bottomline and Ecliptic Technology Redefine Global Expert Management for Insurers

Leader in business payments and legal spend management, Bottomline 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.”

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