Company Featured Prominently in Report Highlighting Vendors Demonstrating Success in the Insurance Industry
Jul 13, 2011
BOTHELL, Wash. – July 13, 2011 – Vertafore (http://www.vertafore.com), the leading provider of insurance distribution channel solutions, today announced that the company has been named one of the top industry solution providers in terms of client deals signed in Celent’s North American Insurance Software Deal Trends 2011 report. Vertafore placed second out of 20 solution providers included in the report’s Traction Index, which ranks solution providers based on deal flow with insurance carriers in 2009 and 2010.
“We would like to extend our congratulations to Vertafore for being named a leading vendor,” said Mike Fitzgerald, Celent senior analyst and co-author of the report. “We believe that carriers value partners who know the insurance vertical well, and who demonstrate their commitment to it. Vertafore’s success in insurance puts them in that category.”
Celent, a research and consulting firm focused on the application of information technology in the global financial services industry, creates the deal trends report annually based on submissions from insurance software vendors. The 2011 report, which provides a comprehensive look at insurance software buying trends, analyzes a total of 1,764 software deals signed between January 1, 2009 and December 31, 2010.
"The data set in Celent's 2011 deal trends report provides what we believe is the most comprehensive analysis available about recent insurance software buying patterns,” said Celent analyst Karen Monks, co-author of the report. “Each year the number of vendors participating increases providing Celent and readers with a good representation of the deal activity in the insurance software market.”
Based on submissions to Celent for the 2011 study, Vertafore was the leading vendor in the Distribution metacategory with 56 percent. The report also placed Vertafore in the number two spot as a Traction leader, with an index of 1,392.
“Leading the Distribution metacategory reflects our commitment to connecting the insurance distribution channel. Our ImageRight document management offering continues to be a valued solution, and our growing customer base led to a top Traction score,” said Matt McKernan, president of carrier and MGA markets at Vertafore. “Every day, more companies in the insurance industry are driving productivity and profitability by choosing Vertafore.”
About Vertafore
Vertafore delivers software and services that transform the business of insurance. Unique to the industry, more than 20,000 customers rely on Vertafore to provide integrated technology that connects the entire industry with the most complete source of solutions—agency management, rating and connectivity, content management and workflow, information solutions and producer lifecycle management—so their businesses run better and are more profitable. For more information about Vertafore, please visit www.vertafore.com.
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Media Contacts:
Kellen Davison
Vertafore
kdavison@vertafore.com
(425) 354-6819