PORTSMOUTH, N.H., May 22, 2024 (GLOBE NEWSWIRE) -- 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.
Statistapredicts 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 Bottomline
Bottomline 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 Powell
Bottomline
pr@bottomline.com
About Ecliptic Technology
Ecliptic 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 McArthur
Ecliptic Technology
marketing@ecliptic.tech
