Functional Finance and Insillion Announce Full Availability of Integrated MGA Billing + Policy Admin Solution

NEW YORK, Oct. 8, 2025 /PRNewswire/ -- Insillion, a provider of Pay-as-you-Grow policy administration and claims software, today announced that its partnership with Functional Finance, the specialist billing system for insurance, has delivered a fully live and integrated solution for Managing General Agents (MGAs) and carriers.

By combining Insillion's cloud-based policy administration platform with Functional Finance's API-driven billing system, MGAs get best-in-class policy, claims, and billing in one cohesive workflow—launching faster, scaling with confidence, and eliminating operational friction.

Why Functional Finance
Insillion selected Functional Finance as its billing partner because of the company's proven leadership and track record in insurance technology, its modern API-first architecture, and its ability to automate the most complex aspects of financial operations. Functional Finance's embedded platform handles everything from invoicing and payables to collecting E&S taxes and fees, giving MGAs confidence that their financial processes are accurate, compliant, and scalable.

"MGAs need technology partners who understand their challenges and can move as fast as they do," said Raja Raman, CEO of Insillion. "We chose Functional Finance because they are specialists in billing, with the expertise and technology to match our own in policy administration. Together, we are delivering a purpose-built solution that allows MGAs to be live in weeks, without compromising on depth or customization."

What It Means for MGAs

• Start-up MGAs can configure products quickly, test in sandbox environments, and go live with a complete policy + billing solution in weeks.
• Established MGAs and carriers benefit from enterprise-grade customization, speed, and the confidence that billing, policy, and claims systems work together seamlessly.

"Functional Finance has a long track record of solving some of the hardest financial operations challenges in insurance," said Rashmi Melgiri, CEO and Co-Founder of Functional Finance. "By bringing our billing expertise into Insillion's PAS environment, MGAs gain the best of both worlds: a policy administration system built for flexibility and speed, and a billing system built for complexity."

The integrated solution is available today across specialty and E&S markets, enabling MGAs to automate back-office operations, accelerate distribution, and scale without limits.

About Insillion
Insillion delivers insurance technology for carriers and MGAs across North America, India, the Middle East, and APAC. With over 20 years of industry experience, Insillion provides low-code, cloud-based solutions with a Pay-as-you-Grow model, enabling rapid product launches, faster quote-to-bind, and AI-powered process automation. insillion.com

About Functional Finance
Functional Finance provides financial operations software serving tech-forward insurance companies. Its API-driven embedded solution automates and manages all aspects of money flow—checkout, financing, payables, refunds, and E&S tax handling. Founded by industry veterans, including the co-founder of CoverWallet, Functional Finance delivers solutions purpose-built for insurance operators. functionalfi.com

Contact:
Steven Patrick
[email protected] 

SOURCE Functional Finance