Best expense management for insurtech startups

The fastest growing insurtech startups prefer Ramp's free expense management solution to track burn down to the merchant, manage controls, and close books 8X faster.
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Customize your expense policy in minutes

Creating your own expense policy with Ramp only takes minutes. To make things easier, we've created an expense policy generator so you can produce your own personalized policy in just a few clicks.

Empower your team

With Ramp, you can issue unlimited cards at scale in seconds to your team and precisely limit spending to certain amounts, categories, and vendors.

Automate receipt matching and expense categorization

Just snap a photo of your receipt and text it to Ramp, our AI-powered technology will match it to the appropriate transaction. Better yet, Ramp automatically collects receipts from your Gmail, Lyft and Amazon Business transactions and matches them with the right transactions, then automatically categorize your expenses based on the rules you create.

FAQ

Is Ramp just a corporate card?
Ramp is the 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 expense management automation?
Expense management tracks, monitors, audits employee spends, and approves or reimburses the expenses that are aligned with the company's expense policy. The traditional expense management process typically includes 5 - 10 manual steps and uses a paper- and spreadsheet-based system that requires a lot of time and energy to maintain and store. Finance team members have to chase down employees for receipts and expense reports at each month end to make sure the timely and accurate reimbursement and reporting. Unlike traditional expense management, expense management automation system like Ramp allows you to use software to automatically manage recording, tracking, reviewing, approving, and reporting for any employee expenses. Following the company's own expense policy, Ramp also automatically helps assure no one is overspending on any areas.
Why is expense management automation important to my InsurTech business?
Traditional expense management requires a long manual process and a lot of paperwork that are time-consuming, costly, and error-prone. Expense management automation can 1) significantly simplify the expense reporting process for both employees and managers, 2) save a significant amount of time for finance teams so that they can focus on what matters the most, and 3) help finance leaders get access to real-time visibility into company spending insights and trends.
How can Ramp automate the expense management process?
Ramp have the following features that help your company automate the tedious expense management process: 1) Advanced card level controls: Ramp allows Admins to set and adjust spend limits on every card used in the business business. Managers can do the same with their teams. 2) Receipt and memo requirements: Admins can also set the business-level threshold for receipts, and then receive SMS or email notifications whenever these large transactions occur. 3) Automatic receipt matching: Employees are prompted to provide their receipts after each transaction, and Ramp will automatically match their receipts with the appropriate transactions. 4) Request and approval workflows: Employees can request to spend within Ramp, and you will be able to review and approve the spend in real time. 5) Multi-level approvals: You can set up custom approvals flows to help track approved expenses and new cards that are being created for employees and managers. 6) Real-time visibility: Through the Ramp dashboard, Admins can easily remind team members to upload their receipts, as well as view spend analytics and identify trends.
How can Ramp help my company save time?
Here are just a few ways Ramp automates your expense management: 1) Advanced card level controls: Ramp allows Admins to set and adjust spend limits on every card used in the business business. Managers can do the same with their teams. 2) Receipt and memo requirements: Admins can also set the business-level threshold for receipts, and then receive SMS or email notifications whenever these large transactions occur. 3) Automatic receipt matching: Employees are prompted to provide their receipts after each transaction, and Ramp will automatically match their receipts with the appropriate transactions. 4) Request and approval workflows: Employees can request to spend within Ramp, and you will be able to review and approve the spend in real time. 5) Multi-level approvals: You can set up custom approvals flows to help track approved expenses and new cards that are being created for employees and managers. 6) Real-time visibility: Through the Ramp dashboard, Admins can easily remind team members to upload their receipts, as well as view spend analytics and identify trends.
How can Ramp help my company save money?
Ramp has saved its customers over $135 million. Here are a few ways Ramp saves your company money: 1. Unlimited cash back: Ramp offers 1.5% cash back on all transactions. 2. Exclusive savings insights: Ramp helps companies reduce overall spend by 3.3% through finding redundant subscriptions, identifying the vendors that you might want to switch to Ramp to maximize cashback, and providing SaaS price insights 3. Partner rewards: Ramp has over $200k in exclusive partner rewards with leading software and vendors such as AWS, Notion, etc. 4. Free negotiation services: Ramp provides free negotiation services for your SaaS contracts for free.

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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

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