Fastest employee reimbursement for insurance and InsurTech

The fastest growing Insurance companies need Ramp's fastest reimbursement solution to handle all their employee reimbursements and expense management. Forget manual reimbursements, and focus on revenues.
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Policy "ensurance"

Create your expense policy, and let Ramp do the rest. Whether it made it onto a Ramp card or not, ensure that your company policy is enforced on all expenses.

Mileage reimbursements, simplified

Submit one-off reimbursements for incidentals or mileage for anything that didn’t make it onto a Ramp card in seconds. It's as simple as clicking reimbursements and filling out a few simple fields.

One dashboard for all expenses

With Ramp, you'll always have a single dashboard to review all expenses and reimbursements. This gives you the ultimate visibility into employee spend and eliminates the back and forth that comes with traditional expense management solutions.

FAQ

What is Ramp?
Ramp is the only finance automation platform designed to save you time and money. Ramp is 5-in-1 software that consolidates corporate cards, expense management, bill payments, accounting automation, and insights and reporting into one user-friendly free platform providing you the best control and visibility.
What is a reimbursable business expense?
A reimbursable expense is a business expense incurred and paid out-of-pocket by employees. These expenses may include travel, office expenses, and business phone calls.
Is there a fee for Ramp Reimbursements?
Ramp Reimbursements is currently free to use.
What is Ramp Reimbursements?
Ramp Reimbursements, a feature of Ramp, is the fastest reimbursement product on the market. With Ramp, you can easily handle all your company expenses in a single place. This includes corporate card expenses as well as any cash or incidentals that need employee reimbursements. With Ramp Reimbursements, an employee can submit out-of-pocket expenses for manager review and approval, and Ramp will automatically reimburse the amount to the employee within 3 business days.
What is mileage reimbursement?
Mileage reimbursment is the amount reimbursed to an employee for her personal car expenses. Businesses can choose to either apply the IRS mileage reimbursement rate or reimburse employees based on the actual costs incurred for business purposes. For 2022, the IRS standard mileage reimbursement rate is 58.5¢ per mile driven for business (up from 56¢ in 2021) Reimbursements based on the IRS mileage rate aren't considered income, making them nontaxable to your employees. Businesses can deduct those costs on their business taxes. When you reimburse employees at a higher rate, the extra amount is counted as gross wages that are subject to payroll taxes.
What qualifies for mileage reimbursement?
Some examples of qualified mileage reimbursements may include: 1. Business trips; 2. Off-site meetings with clients and prospects; and 3. Deliveries. IRS mileage reimbursement rate is designed to cover costs such as gas, oil changes, maintenance, and insurance but not parking and tolls. When using the IRS mileage rate for reimbursements, they’re not taxable to your employees and are deductible for your business.
Can I customize my reimbursement policy with Ramp?
Yes, you'll be able to customize your reimbursement policy for both mileage and regular out-of-policy expenses. For example, if you do not want to require your employees to upload a receipt image for mileage, you can update your submission policy for mileage reimbursements.
Will my accountant like Ramp?
Yes, accountants absolutely love Ramp! We integrate with the most popular accounting software such as Quickbooks, Xero, Sage Intacct, and NetSuite. Just plug Ramp into your accounting system and orchestrate your ideal workflows from AP automation to reconciliation.

Relevant posts

Learn more about employee reimbursement best practices

More than just the best employee reimbursement solution

All-in-one finance automation for insurance and InsurTech companies

Entirely free

Ramp is completely free. Apply easily and get the full Ramp experience for free. No personal credit checks or personal guarantees.

Live support

Our experts are always here to help you troubleshoot or offer guidance anytime you need it.

Stronger control and real-time visibility

Control your business spend with daily limits and auto-locking cards, card programs, and an intuitive dashboard full of spend and savings insights.

Cards, expense management, bill pay, negotiation, and more—all in one

Ramp is a consolidated platform that scales with your insurance business.
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