Cash Management

Setting up an Operating Account within AI Insurance takes a few simple steps via our partnerships with Stripe and Evolve Bank. Once complete, Premium Billing will be enabled in your instance, which allows you to issue invoices and collect premium directly into your Operating Account automatically. From within our UI, you can easily initiate deposits and withdrawals from your Operating Account.

Where to find the Setup page

Cash Management is found by clicking your Company Name in the UI as seen below:

Once in the Company Settings page, click the Cash Management Tab, and then Click on and complete Set up.

Features

After completion of the Set up process above, your instance will look similar to the following:

Account Balance

Lists current cash balance, including any inbound or outbound transactions initiated through the user interface.

Transaction History

Includes a list of all transactions into or out of the Operating Account.

Manage

In this section, we'll surface your Account and Routing numbers for you to initiate transfers to your new Operating Account.

Withdrawal

In this section, you can initiate a Withdrawal through the UI to an account of your choosing.

Deposit

In this section, you can initiate a Deposit through the UI from an account of your choosing.

Behind the Scenes

The Operating Account is not a bank account. Instead, it's an FBO Account and maintained by Stripe as the custodian. Funds are held at Evolve Bank, an FDIC-insured bank, and ACH and Wire-transfers are fully supported.

Below is a diagram of the flexibility and extensibility of the Operating Account