The General® Insurance Company Selects Finexio as Electronic Vendor Payment Partner
ORLANDO, FL, May 2, 2018 (Newswire.com) - Finexio, the Orlando-based company offering a smarter way to send B2B payments, was chosen by The General® insurance company to deliver electronic payments to vendors.
This relationship will allow the Nashville-based insurance company to transform how it pays vendors, which has been strictly through paper checks. Finexio’s technology will help enable The General to focus on providing affordable insurance to all drivers, regardless of their accident or credit history.
“The vendors we work with are crucial to the success of our business, and partnering with Finexio will allow us to improve these relationships,” says John Hollar, president and COO of The General.
“By eliminating paper checks, vendors should find the payment process more efficient. This is just another way for us to carry out our company vision of making life easier, internally, for our customers and for partners alike.”
“We are pleased to support The General’s initiatives of cost reduction and cash flow generation with our proprietary payment network,” says Ernest Rolfson, founder and CEO of Finexio. “Their team was looking to optimize business payments execution to minimize their finance team’s efforts while driving maximum returns.”
Adds Rolfson, “Providing customers like The General with more options to execute business payments in a controlled and secure way will drive the majority of payments away from costly and inefficient paper checks.”
About The General®
The General Automobile Insurance Services Inc. (The General®) is a licensed insurance agency and subsidiary of PGC Holdings Corp. (PGC), which is wholly owned by American Family Mutual Insurance Company. Through its insurance company subsidiaries and their predecessors, PGC has been writing automobile insurance since 1963. Based in Nashville, Tennessee, The General® serves customers with various needs, specializing in those who may have difficulty obtaining insurance from other insurers at a reasonable rate. The General® is active in 47 states and expects to be national by the end of 2018.
The General® primarily sells its products online and through call centers, independent agents, partners and American Family Insurance agents. In recent years, The General® has also developed a broader advertising approach through professional sports sponsorships and philanthropic partnerships. Visit www.thegeneral.com or www.thegeneral.com/shaq; follow The General on Twitter and Facebook.
In 2015, financial executives from MasterCard and Change Healthcare saw a critical opening for a B2B commercial payments execution platform that could service mid- to large-market companies. They envisioned Finexio as a way to execute in this market, unlocking the business value of payables for other efficiency-minded executives. In 2017, Finexio moved to Orlando from Silicon Valley and expanded its operations in 2018 with $4 million in Series A funding.
Finexio’s payment technology identifies which suppliers can be paid electronically, then routes those payments without requiring bank account information. Finexio’s proprietary network identifies, delivers and supports nine forms of payment, generating revenue and cost savings for AP departments while offering complete visibility and control of the payment process. To learn more, visit Finexio’s website at https://finexio.com.
Anna Powers Tracy