InsurTech Leader's Distribution and Compliance Management Solution Sees Rapid Adoption Among Carriers
Vertafore's 2019 acquisition of Vue Software is simplifying insurance distribution
DENVER, March 12, 2020 /PRNewswire/ -- Following its acquisition of Vue Software last spring, today Vertafore announced a year of record growth for its distribution and compliance management (DCM) offerings for carriers, agencies and states. The company also introduced Steve Cox as the new general manager for its DCM offerings. Cox transitioned to his new role after serving at Vertafore's vice president of customer support and technology.
With the addition of the Vue suite to its award-winning Sircon product, Vertafore combined the industry's two leading carrier solutions to streamline the insurance lifecycle. Vertafore's resulting Distribution Management Suite enables carriers to better manage their relationships with producers, streamlines tracking of continuing education and appointments for agencies and helps states protect consumers with better credentialing and compliance oversight.
In 2019, the industry validated the combined power of the Sircon and Vue platforms with record-setting sales, an Xcelent Functionality Award from the industry analyst firm Celent and the California Department of Insurance's implementation of Vertafore's Distribution Management Suite. With this significant addition customers access the industry's most robust network with more than 570,000 agents and advisors, 12,000 independent agencies, approximately 2,200 education providers, more than 1,000 carrier groups and 300 securities firms, and 23 state regulators.
Carriers value the ability of independent agencies to connect insurance products to the right individual consumers and businesses, but they struggle with manual processes and multiple systems to maintain those relationships.
"For years we've heard that carriers are craving a streamlined solution that makes it easier to onboard their independent agents, track performance, compensate producers and keep agents up-to-date with their license and appointment requirements," said Cox. "Vertafore's Distribution Management Suite brings those key functions together—simply and efficiently—and provides a better experience for the entire distribution channel."
Under Cox's leadership, in 2020 Vertafore will launch its integrated Distribution and Compliance Management suite that combines the Sircon and Vue into a single, unified platform. Combined with the expanded regulatory expertise that came with the addition of the Vue team and Vertafore's industry-leading focus on customer success and engagement, carriers now have both the technology and the support they need to drive business.
"The carriers we work with tell us that their Vertafore solutions are key to making them more competitive and efficient," said Cox. "From easier appointments and faster producer onboarding that improves the agent experience to reducing non-compliance risks and IT costs, our carriers are able to grow the footprint of their products while saving time and money."
About Vertafore
For over 50 years, Vertafore has built insurance technology to simplify and automate the insurance lifecycle so that our customers can focus on what matters most to them – people. Vertafore's solutions for agency management, client engagement, ratings, regulation, compliance, and connectivity empower simpler, smarter insurance distribution for every stakeholder. More than 20,000 agencies, 1,000 carriers and 23 state governments rely on Vertafore to streamline their workflows, improve efficiency and drive productivity. Through a fierce devotion to customer success, a continual focus on excellence and a commitment to delivering modern, innovative Insurtech solutions, Vertafore is delivering results that make a difference for the entire distribution channel. For more information about Vertafore visit http://vertafore.com.
©2020 Vertafore and the Vertafore logo are registered trademarks of Vertafore. All rights reserved. All other trademarks are the property of their respective owners.
MEDIA CONTACT:
Liz Reilly
SSPR
401-525-1775; [email protected]
SOURCE Vertafore
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