Agencies execute more than 3.4 million transactions with carriers and MGAs through Vertafore systems, highlighting unprecedented momentum in agency-carrier connectivity
May 19, 2009
BOTHELL, Wash. - May 19, 2009 - Vertafore, a leading provider of software and services to the insurance industry, today announced that TransactNOW® and PL Rating© facilitated more than 3.4 million agency-carrier transactions in the first quarter of 2009, representing an 80 percent increase over the same period in 2008. The strong first quarter results show that agency-carrier connectivity has reached a critical mass, with more carriers enabling real-time transactions through Vertafore's systems and more agencies taking advantage of this connectivity.
The shift in behavior allows agencies to leverage Vertafore's industry-leading connectivity solutions to achieve greater efficiency and productivity, providing significant cost and time savings to both agencies and carriers. In addition, with real-time connectivity, rating agencies and carriers are able to write more business in a shorter period of time. Vertafore's solutions help carriers and MGAs with a major challenge: efficiently integrating with hundreds of thousands of desktops that use agency management and comparative quoting solutions available from Vertafore and other vendors.
"Our strong first quarter transaction numbers provide clear evidence that real-time connectivity is now the mainstream way for agencies and carriers to interact," said Susanna Morgan, senior vice president, product strategy and marketing with Vertafore. "For agencies and carriers looking to maximize their time, save money and increase sales, Vertafore's solutions can provide a significant competitive advantage."
Vertafore also announced that it now leads the market with 338 carriers and MGAs in production with real-time connectivity and download capabilities, giving agencies a wide range of options to meet their customers' coverage needs. The growing base of users leads directly to increased activity, and Vertafore's transaction numbers are trending up. In 2009 the company is averaging 57,000 real-time rating and quoting transactions per day; in January, the total number of real-time transactions topped 1 million for the first time.
"Allied has been a longtime supporter of the use of technology in our business processes," said Doreen I. LaMacchia, Training and Development Associate at Allied North America Insurance Brokerage of New York, LLC. "We are pleased with the efficiency and simplicity of Vertafore's real-time connectivity to Personal Lines Carriers."
For more information about Vertafore Connectivity Services, please visit www.vertafore.com or e-mail firstname.lastname@example.org.
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.
Media Contacts:Kellen DavisonVertaforekdavison@vertafore.com(425) 354-6819
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