RiskMatch Passes $32 Billion in Written Premiums; Number of Brokers Using Platform Doubles
DENVER, May 14, 2018 - Vertafore®, the leader in modern insurance technology, today announced that its RiskMatch® platform has surpassed $32 billion in direct written premiums as a result of large and mid-sized brokerages purchasing the platform at an increased rate every quarter.
RiskMatch is an insurance intelligence solution that provides agents and brokers with trusted insights about customers, the market, and the entire insurance distribution channel, enabling them to remain competitive and grow in a data-driven environment.
"RiskMatch is part of a shift that's underway at our firm. A few years ago, we determined to transform our organization and to begin using data as a weapon in the sales environment," explains Andy Paden, CIC director of practice development INSURICA. "We've been very purposeful, and RiskMatch has been a part of that digital transformation. We know disruption is coming, and we want to prepare ourselves not only to handle disruption, but perhaps be on the leading edge of how the new insurance industry emerges."
Executives and owners use the RiskMatch platform in several ways, including as a resource for carrier engagement, planning and negotiations. Producers and account management team members use it to identify markets and pricing, and to make sure clients are properly protected. RiskMatch improves the ability of producers to write more policies by cross-selling, using benchmark data showing coverage that similar clients and prospects are buying.
"Among the things that are most notable about RiskMatch is its incredibly intuitive user interface—the dashboard," said Jack Butcher, national commercial lines leader, Marsh & McLennan Agency. "RiskMatch draws a lot of data from our systems and presents it quickly and in a view that makes a lot of sense to the user. Often, as I sit with carrier partners, they're surprised by how much insight we can provide them into their book with us."
"We understand that agents and brokers need to keep pace with a rapidly changing industry," said Michael Cormier, Vice President, Sales & Business Development. "The combination of data and insights RiskMatch surfaces and Vertafore's breadth of experience enables our customers to stay ahead of industry changes, grow revenue and be more profitable."
About Vertafore Vertafore's comprehensive insurance management software solutions allow participants in the insurance distribution channel to adapt to an evolving insurance industry by efficiently scaling their businesses through deeper access to information and insights. The Vertafore platform features fast innovation, partnerships with leading technology companies, and customizable solutions to help companies remain independent during a time of industry disruption. As the leader in modern insurance technology with the largest customer base in the industry, Vertafore connects every point of the distribution channel, from agencies and carriers to MGAs, MGUs, and state governments. For more information about Vertafore, visit www.vertafore.com, read the company's blog, and follow the company on Twitter, LinkedIn, and Facebook.