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InvoiceCloud, a leader in online billing and digital payment solutions, has appointed Michael Costonis to its board of directors, announced on July 31, 2025. With extensive experience in the insurance sector, Costonis will support InvoiceCloud’s strategic growth and innovation in the insurance market, enhancing its digital payment and customer engagement offerings.
Michael Costonis joins InvoiceCloud’s board to drive insurance sector growth.
Former COO and Global Head of Marketing, Strategy, and Innovation at CNA Insurance.
Led Accenture’s global insurance practice, advising on digital transformation.
Appointment sourced through Vista Equity Partners’ external board program.
InvoiceCloud serves 3,200+ clients, including major insurance carriers.
Focus on modernizing digital-first policyholder experiences.
Michael Costonis brings decades of expertise in strategy, innovation, and digital transformation to InvoiceCloud’s board. Most recently, he served as Chief Operating Officer and Global Head of Marketing, Strategy, and Innovation at CNA Insurance, one of the largest U.S. commercial property and casualty insurers. Prior to that, Costonis led Accenture’s global insurance practice as Senior Managing Director, advising top carriers on digital reinvention, distribution, customer experience, and operational performance. His deep understanding of the insurance landscape positions him to guide InvoiceCloud’s expansion in this sector.
“Michael brings a unique combination of insurance industry expertise, digital transformation leadership, and customer-centric thinking to our board,” said Kevin O’Brien, Chief Executive Officer at InvoiceCloud. “His insights will be invaluable as we continue to evolve our product strategy and go-to-market approach within the insurance space and deepen our commitment to helping carriers deliver superior digital experiences.”
InvoiceCloud’s SaaS platform, serving over 3,200 clients across utilities, government, and insurance, is a leader in electronic bill presentment and payment (EBPP). Its solutions drive higher digital payment, AutoPay, and paperless adoption rates, reducing costs and staff workloads while improving customer satisfaction. In the insurance sector, clients like Georgia Farm Bureau Insurance, AFR Insurance, and EmPRO benefit from InvoiceCloud’s seamless payment and engagement tools. Costonis’s expertise will help refine these offerings to meet the needs of digital-first policyholders.
“I’m honored to join the board of directors at InvoiceCloud,” said Costonis. “The company’s track record of delivering meaningful results across key verticals—especially in insurance—is impressive. I look forward to contributing to the company’s strategic direction as it continues to modernize how insurers engage with their policyholders.”
Costonis’s appointment was facilitated through Vista Equity Partners’ external board program, launched in 2017. As the majority investor in InvoiceCloud, Vista leverages its network to appoint high-caliber board members, ensuring strategic alignment and growth. This program has strengthened InvoiceCloud’s leadership, following key appointments like CEO Kevin O’Brien in August 2024 and the launch of an AI Report Generator in July 2025.
InvoiceCloud’s focus on insurance aligns with industry trends toward automation and digital engagement, as highlighted by Costonis’s prior thought leadership in Harvard Business Review and his certifications in AI and quantum computing from Harvard and MIT. The company’s partnerships with carriers like EmPRO and its Guidewire ClaimCenter integration demonstrate its commitment to streamlining insurance processes. With a 97% customer retention rate, InvoiceCloud continues to drive innovation in EBPP, supported by Costonis’s strategic insights.
This appointment positions InvoiceCloud to accelerate its insurance market growth, leveraging Costonis’s expertise to enhance digital payment solutions and customer experiences in a competitive, fast-evolving industry.
InvoiceCloud provides modern digital payment, customer engagement, and outbound disbursement solutions. The company services more than 3,200 customers across the utility, government and insurance industries and is a leader in the electronic bill presentment and payment (EBPP) space. InvoiceCloud’s SaaS platform enables continuous enhancements to the customer experience resulting in higher digital payment, AutoPay, and paperless adoption rates. By switching to InvoiceCloud, clients can improve customer engagement and satisfaction while lowering costs, accelerating payments, and reducing staff workloads.
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