Bothell, WA. – June 4, 2015 – Vertafore, the leading provider of software that transforms the business of insurance, today unveiled its newest carrier solution along with feature updates to its content management and workflow system, ImageRight® 6.0. Vertafore® Analytics provides carriers and their independent channel partners insight into the personal lines market. This capability enhances Vertafore’s commitment to providing industry leading solutions that meet the needs of carriers and help them connect to independent agencies and brokers. The rollout of Vertafore Analytics comes as a result of Vertafore’s technology partnership with Birst, the global leader in Cloud BI and Analytics, announced in March at NetVU15. Designed to better inform carriers and drive operational efficiencies, the new products and capabilities demonstrate Vertafore’s forward-thinking approach to working with carriers and driving synergies between carriers and agencies.
Data driven insights and connectivity to agents and brokers are becoming table stakes for today’s modern insurance carriers which have significantly increased their investment in big data technologies from 5% in 2012 to 42% in 2014, according to research by Gartner and NAIC. As a result of those investments, carriers now have a thorough understanding of their own first-party data, but lack access to consumer data outside these in-house systems to help evaluate their market position. This need for better access to data is increasing the demand for even stronger partnerships between carriers and agencies. In fact, according to a recent Aite survey, 56% of agencies are currently partnering with carriers to leverage their predictive analytics capabilities and build more targeted prospect lists.
“Carriers’ insight into the market has been limited to their own data for too long,” said Greg Wright, senior vice president of agency solutions at Vertafore. “This new offering will help them understand the broader market to make sound business decisions and increase their standing as a carrier of choice for agencies.”
Vertafore’s new carrier products and updates, include:
Vertafore Carrier Analytics
The new Vertafore Carrier Analytics solution provides an untapped view of the personal lines market through advanced customer and industry data analytics and insights. The solution utilizes a rich data source, providing a best-in-class data platform that delivers structured personal lines data and new insights. Unlike other solutions, which are based on hypothetical assumptions, the Vertafore
Analytics platform draws on a unique data set of actual market activity. The platform also supports a greater volume of data than other comparative raters, providing the deepest, real time data insights available.
ImageRight 6.0
On the heels of the most robust upgrade in the last five years, this ImageRight update puts the power of productivity into the hands of everyone in your organization. It brings unmatched features to content management and workflow, including:
User-centric Design: New intuitive design is easy to navigate, so your staff spends less time training and more time servicing, selling and producing.
Mobility: Provide your team with the flexibility to securely access files whether at the office or onsite at anytime.
Avoid Bottlenecks: Reduce churn and bottlenecks and free your staff to focus on prioritizing tasks and identifying the most immediate needs while growing your business.
Insurance professionals looking to access more information regarding the new ImageRight platform upgrades can take next steps here.
Working with over 85 of the top 100 carriers and 96 of the top 100 insurance agencies industry wide, Vertafore provides a broad set of solutions across the entire insurance ecosystem with the best analytics available to support carrier efforts, and advanced, data and workflows for independent insurance agencies. Vertafore continues to release innovative products for both carriers and agents to increase their connectivity, allowing them to improve profitability, make better business decisions, streamline compliance, and serve customers more efficiently and effectively. For those attending the IASA conference in Las Vegas June 7-10, Vertafore will be demonstrating and presenting the Vertafore Carrier Analytics platform and ImageRight 6.0 throughout the event.
About Vertafore
Vertafore’s comprehensive insurance management software solutions lead brokers and carriers to adapt to an evolving insurance industry to efficiently scale their businesses through deeper access to information and insights. The Vertafore product line is built on a platform, empowering customers and other solution providers to adapt and thrive as the market changes. Vertafore’s platform features fast innovation, partnerships with the best 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.
About RiskMatch
RiskMatch is a business intelligence and analytics company that delivers a suite of web-based solutions for insurance brokers and underwriters throughout the U.S. Its patented platform delivers an array of portfolio management, analytic and data management services designed to enable brokers and underwriters to enhance performance, reduce costs, facilitate growth, and improve their client service capabilities. For more information, visit the RiskMatch site.