Automation, AI, and the Future of Insurance Operations with Ascend
The insurance industry is evolving quickly, and agencies are looking for smarter ways to simplify operations without sacrificing accuracy.
In this episode of the Momentum AMP Podcast, host Michael Lebor and Momentum AMP Co-Founder Kayden Stephens are joined by Amelia Lee, Head of Partnerships at Ascend, to discuss how automation is reshaping agency accounting, payments, premium financing, and financial operations.
Together, they explore Ascend's recent merger with Honor Capital, the growing partnership between Ascend and Momentum AMP, and why open integrations are becoming essential for modern insurance agencies. The conversation also dives into AI's role in financial workflows, the importance of eliminating manual processes, and how agencies can spend less time reconciling books and more time serving clients and growing their businesses.
In this episode:
Featured Guest: Amelia Lee, Head of Partnerships at Ascend, a financial operations automation platform helping insurance agencies streamline payments, accounting, premium financing, and reconciliation through intelligent automation.
Michael Lebor: Welcome, everyone, to the Momentum AMP Podcast. Today we're joined by Amelia Lee from Ascend. At Momentum, we love surrounding ourselves with incredibly capable people and companies that are driving innovation in digital insurance, and Ascend is certainly one of those organizations.
In fact, I think Ascend has reached the point where people refer to an "Ascend-style workflow" the same way they say "Band-Aid" or "Q-tip." The processes and workflows your team pioneered have become the standard that others aspire to, whether they're using Ascend or not. That's an incredible accomplishment.
I'm joined today by Kayden Stephens, and we're excited to talk about all things digital insurance. Amelia, welcome to the podcast. Tell us a little about yourself, Ascend, and what's top of mind for you these days.
Amelia Lee: Thank you for the warm introduction, Michael and Kayden. It's great to be here.
I'm Amelia Lee, and I lead Partnerships at Ascend, which includes our partnership with Momentum AMP. For anyone unfamiliar with Ascend, we're a financial operations automation platform focused on bringing together accounting automation, payments, and premium financing into one ecosystem. Our goal is to automate the entire financial workflow for insurance agencies—from payment collection all the way through reconciliation and closing the books.
Michael Lebor: Let's start with some recent news. Ascend recently merged with Honor Capital. Tell us about that. What does it mean for agencies already using the platform?
Amelia Lee: Operationally, nothing changes for agencies that are already using Ascend. The merger is really about strengthening the premium finance experience by bringing Honor Capital more closely into the platform.
We've worked alongside Honor Capital for quite some time, so this isn't an entirely new relationship. They've already been providing premium financing for agencies using Ascend's agency-bill workflows. The long-term vision is tighter integration, faster response times, better financing options, and ultimately a more seamless experience for agencies.
Michael Lebor: First of all, tell Andrew I said hello. I've been a fan of what he and Praveen have been building since the early days.
I remember watching Ascend raise capital from top-tier venture firms when you were just getting started, and it was obvious you were building something different. You haven't slowed down since then, and it's impressive to see how far the company has come.
One question I get a lot is this: what happens if someone wants to use Ascend but doesn't want to use Honor Capital? Is that still an option?
Amelia Lee: Absolutely. Honor Capital is an important part of the experience, but it's not the only value that Ascend provides.
When you think about automating the agency-bill process, it starts with invoicing, billing, and payment collection. Premium financing becomes an integrated option when agencies need it, but agencies still benefit from the platform even when customers are paying in full.
Where Honor Capital really adds value is by eliminating manual work—there's no need to send finance agreements back and forth, collect separate signatures, or restart the process every time something changes. Everything happens inside the workflow, making life much easier for agencies.
For Momentum AMP agencies, the real benefit is that instead of juggling five different systems, they're able to consolidate much of that work into one connected experience.
Michael Lebor: For anyone listening who may not be familiar, let's talk about what the current Momentum AMP and Ascend integration actually does.
Kayden, walk us through it from your perspective.
Kayden Stephens: When Ascend first approached us, it really opened the door to a different way of thinking about financial workflows.
We've always had payment capabilities built into Momentum. Agencies could generate invoices and collect payments, and we already had integrations with premium finance providers through APIs. What Ascend did differently was combine those experiences into a single, connected workflow.
They were one of the first companies to truly bring payments and premium financing together while creating a seamless flow of information between systems. That enhanced both the client portal and the automations available to agencies.
Since then, they've continued expanding those capabilities. They're approaching agency billing almost the way carriers approach direct bill—handling payments, reconciliation, and the accounting journey while Momentum remains the system of record.
From our perspective, that's exactly how a modern partnership should work. We remain the source of truth for agency data, while Ascend specializes in financial operations and automation.
Michael Lebor: From Ascend's perspective, is the integration with Momentum AMP as deep as it can be today, or do you still see opportunities to expand it?
Amelia Lee: There's always room to continue improving, but we've already built a very strong integration. A lot of the work now is about continuing to enhance the experience as both of our platforms evolve.
Momentum AMP continues introducing new capabilities, and we're constantly looking at how we can support those innovations from the financial operations side. The goal is to make sure agencies experience one seamless workflow, regardless of which platform they're working in at any given moment.
Michael Lebor: That's one of the things that's impressed me about Ascend from the beginning. I remember talking with your team years ago when you described what you were trying to build. At the time, it almost sounded too ambitious.
Fast forward to today, and you've not only delivered on that vision—you've gone beyond it. We have agencies that absolutely love using Ascend. They're incredibly loyal because the platform consistently solves real problems.
You keep asking yourselves, "What can we automate next?" And with technology moving as quickly as it is today, that's exactly the mindset you need.
One question I'm curious about: is Ascend an all-in platform, or can agencies adopt individual pieces of the platform? For example, could someone use Ascend only for commission reconciliation?
Amelia Lee: That's a great question.
I wouldn't necessarily call it an "à la carte" platform, but we absolutely believe in meeting agencies where they are. Different agencies have different operational challenges, and not everyone needs the exact same solution on day one.
Some agencies come to us because they're writing a significant amount of agency-billed business and need help automating those workflows. Others are primarily looking for commission reconciliation. Some want the complete financial operations platform.
Our philosophy is to solve the problems that matter most to each agency rather than forcing everyone into the exact same implementation.
Michael Lebor: Do you also provide consulting around those workflows?
One thing we've learned is that software alone isn't enough. Agencies need guidance on how to implement new processes, train their staff, and build efficient workflows around the technology.
Does Ascend have a consulting or professional services team that helps customers maximize the platform?
Amelia Lee: Absolutely.
Like any technology platform, it's one thing to understand the basics, but it's another thing entirely to maximize the return on your investment.
We have a Solutions Consulting team that works with agencies from the earliest conversations through onboarding and throughout the life of the partnership. They're not simply teaching people how to click buttons—they're helping agencies redesign workflows, identify opportunities for automation, and make sure Ascend fits the way each business operates.
That ongoing partnership is a huge part of how we help agencies succeed with the platform.
Michael Lebor: From your perspective, we're seeing more mid-sized and larger agencies coming into Momentum AMP than ever before.
One conversation we have fairly often revolves around accounting systems and the general ledger. Some agencies use QuickBooks, while others use more specialized accounting platforms.
What are you seeing? If someone runs a $50 million agency, do they need an enterprise accounting platform, or are agencies still operating successfully with QuickBooks?
Amelia Lee: One thing I've learned about insurance is that every agency has its own way of doing things.
Today we work with 25 of the top 50 insurance brokerages, and there's no single approach. Some organizations have built their own internal financial systems. Others use enterprise accounting platforms, while many continue to use QuickBooks.
There isn't one universally correct answer. Every agency has developed workflows that fit its own business.
Michael Lebor: So you still have a lot of agencies using QuickBooks?
Amelia Lee: Absolutely. We have many agencies using QuickBooks today.
One of the most common questions we receive is how information gets into their general ledger. The process is straightforward—it's simply a matter of exporting from Ascend and importing into QuickBooks.
It's a workflow our customers use every day.
Michael Lebor: Do you think agencies that use QuickBooks are missing anything compared to agencies using more specialized accounting systems?
Amelia Lee: I think it really comes down to how many systems an agency wants to manage.
One reason we're seeing more agencies move financial workflows into their agency management system is simplicity. It's one less platform to maintain, one fewer integration to manage, and a smoother overall experience.
For companies like Ascend, those tighter integrations create an even better experience because data moves more naturally between systems.
Kayden Stephens: That's exactly why integrations matter so much.
If there isn't a strong connection between systems, agencies end up doing duplicate work. Once that integration exists, the workflow becomes much more practical.
From Ascend's side, when you're writing information back into those accounting systems, are you posting directly into the general ledger?
Amelia Lee: That's exactly right. When we write information back into those systems, we're posting directly into the general ledger.