InsurTech Leaders Partner to Provide Independent Agents With Tailor-made Business Solutions

Vertafore | May 29, 2020

  • Vertafore announced the expansion of its open agency management system architecture with the addition of five new members to the Vertafore Orange Partner Program.

  • API-backed open platform to give AMS users the ability to choose and get the most from the solutions and services that meet their needs.

  • Vertafore unveiled AMS360 Connect to sync and streamline the flow of customer, prospect and policy information between AMS360 and the industry's leading CRM systems in real-time.


Today Vertafore announced the expansion of its open agency management system architecture with the addition of five new members to the Vertafore Orange Partner Program and the release of AMS360 Connect™. 

The new integrations of leading business solutions with Vertafore products were made possible through the company's unique, API-backed open platform to give AMS users the ability to choose and get the most from the solutions and services that meet their needs.


Read More: Starr Introduces Usage-Based Aviation Insurance for Pilots Who Rent


Introducing AMS360 Connect

Vertafore unveiled AMS360 Connect to sync and streamline the flow of customer, prospect and policy information between AMS360 and the industry's leading customer relationship management (CRM) systems in real-time. Through CRM integration, AMS360 Connect:

  • Helps producers provide timely advice, leading to improved retention, cross-sell and proactive outreach to customers.

  • Enables faster new business quoting by automatically passing prospect data from the CRM to start a submission in AMS360.

  • Improves data accuracy and completeness by eliminating duplicate data entries, which reduces E&O exposure and supports better reporting and analytics.

  • Enhances the agent experience by freeing up time to deepen customer relationships.


Read More: Allstate to Extend Shelter-in-Place Payback Program Through June


New Orange Partners, New Options

Vertafore launched its Orange Partner Program (OPP) last year to enable agencies to integrate complementary, best-in-class business solutions with their Vertafore agency management systems (AMS) and products. Vertafore welcomes Rocket Referrals, Formstack Sign, InsCipher, Levitate and Lightspeed Voice to join its existing roster of 14 partners.


Through these vetted partnerships, Vertafore customers can quickly implement business tools—ranging from marketing automation to advanced customer communications to process facilitation—to help them better manage and grow their agency.

Our focus is always on helping our customers to run their businesses better, faster and smarter, we’ve heard from agents that one-size-fits-all systems can limit their choice of tools. Our Orange Partner Program and AMS360 Connect are part of our open approach to enable independent agencies to select and take advantage of the solutions that are right for them.

- Chad Hawkinson, Chief Product and Data Officer at Vertafore.


About Vertafore

For more than 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 management, 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.

Spotlight

Daniel Schreiber, chief executive officer and co-founder of Lemonade, discusses the benefits of artificial intelligence on the insurance industry and trust issues in data privacy. He speaks with Emily Chang on "Bloomberg Technology."

Spotlight

Daniel Schreiber, chief executive officer and co-founder of Lemonade, discusses the benefits of artificial intelligence on the insurance industry and trust issues in data privacy. He speaks with Emily Chang on "Bloomberg Technology."

Related News

CORE INSURANCE

Securian Financial collaborates with “BenefitBump” to enhance education among expectant parents

SECURIAN FINANCIAL | September 30, 2022

To provide greater assistance to employees growing their families, Securian Financial in a first among insurance carriers is adding “BenefitBump” as a value-added service. The BenefitBump service can be used with Securian Financial’s group hospital indemnity insurance issued by Securian Life Insurance Company. BenefitBump improves outcomes for both employers and employees by helping growing families navigate their employers’ benefits and time off programs to build plans for balancing work and life. The program was designed for all paths to parenthood, including childbirth, adoption and families seeking fertility support. Participants are provided with education tools and live support from licensed emotional health clinicians. “Employees expecting a new child are often overwhelmed with information and unaware of all the benefits available to them through their employers, BenefitBump’s trained care navigators are experts in workplace benefit programs for expecting parents. They guide parents through the journey of growing their families from pre-birth planning to post-birth childcare while ensuring that they are maximizing their available benefits. For employers, this can be a powerful tool for retention, especially of working mothers.” -Darin Reeser, regional director of supplemental health benefit sales for Securian Financial According to ongoing BenefitBump participant survey responses, 66% of participants say the service reduces stress and anxiety and 83% say it increases benefit awareness and utilization. In addition, a 2021 study of program participants found that 98% successfully returned to work. Group hospital indemnity insurance is a workplace supplemental health policy that pays a pre-determined benefit to insured employees who experience a hospital stay covered by the policy. Employees can use the benefit to pay for out-of-pocket expenses not covered by their major medical insurance, or however they wish. With Securian Financial, insured employees do not have to experience a hospital stay to use BenefitBump. In fact, according to BenefitBump, since the service’s inception, nearly one-fifth of participants have engaged the service while family planning. Workplace supplemental health benefits on the rise According to a study conducted by benefits broker WTW, more employers are turning to supplemental health benefits to help protect employees from big medical bills and loss of income. The study, conducted between February 23 and March 12, 2021, found that among 238 organizations employing 3.7 million people, 42% offered group hospital indemnity insurance and 57% offered group critical illness insurance. By 2022, 65% of the organizations said they would offer hospital indemnity insurance to their employees, and 76% said they would offer critical illness insurance. Additionally, LIMRA, a life insurance researcher and trade organization, reported recently that workplace supplemental health benefit premium rose 6% in 2021, to nearly $2.6 billion. A group insurance leader Securian Financial offers group life, accidental death and dismemberment (AD&D) and supplemental health insurance products to employers nationwide. The company specializes in large public and private employer plans with 1,000 or more participants. Since issuing its first group life insurance policy in 1917, Securian Financial through its subsidiaries, Minnesota Life Insurance Company and Securian Life Insurance Company has grown to become the third-largest direct writer of group life insurance in the United States. The company is the top provider of group life insurance to state governments, 16, and has an extensive list of Fortune 500 employer clients, including 18 of the Fortune 100. ABOUT SECURIAN FINANCIAL At Securian Financial, we’re here for family. And we’re here because of it. We’re guided by our purpose: helping customers build secure tomorrows. Since 1880, we’ve been building a uniquely diversified company that has outlasted economic ups and downs while staying true to our customers. We’re committed to the markets we serve, providing insurance, investment and retirement solutions that give families the confidence to focus on what’s truly valuable: banking memories with those who matter most.

Read More

CORE INSURANCE

New carrier partners go live on Commercial Submissions to streamline small commercial quoting

Vertafore | September 12, 2022

Vertafore®, the leader in modern insurance technology, today announced Acuity Insurance, Westfield Insurance and CNA Insurance are the latest carriers to go live on its award-winning Commercial Submissions™ platform. These additions reflect the platform's growing momentum and bring even more choice to the solution and mark a new milestone in Vertafore's vision to modernize commercial insurance for the independent agency channel. Vertafore introduced general availability for Commercial Submissions in March 2022. Nearly 800 independent agencies have since signed up to use the platform to quickly quote BOP, workers' compensation and general liability insurance from some of the nation's top carriers. Technology built for insurance professionals by insurance experts Vertafore has long been the leader in market connectivity solutions that enable agencies and carriers to speed up binding and quoting. In 2021, Vertafore facilitated more than $13 billion in real-time carrier/agency premium submissions and handled 150 million real-time transactions through its rating and connectivity solutions. The company built on this connectivity success when it set out to solve challenges of commercial insurance quoting. And since the product's launch, agencies have generated thousands of quotes across three lines of business in 40 states. The success of Commercial Submissions is the result of a dedicated, experienced Vertafore product and development teams, led by Wendy Haney and David Acker. Haney and Acker have nearly five decades of combined experience developing tools that simplify the day-to-day work of insurance professionals, with a particular focus on solutions that improve connectivity across the insurance distribution channel. "When Vertafore identifies a technology need in our marketplace, we first consider whether our customers are best served through a partnership, an acquisition, or with a Vertafore-built product, The depth of our in-house talent, our proven success with personal lines connectivity and our relationships across the distribution channel made it clear that we were in the best position to deliver a high-quality solution to streamline business insurance quoting. And our agency and carrier partners continue to validate that decision." -Amy Zupon, Vertafore CEO Industry-leading solution for commercial lines quoting Commercial Submissions delivers a game-changing experience for independent agents and the business clients they serve. The platform simplifies and automates commercial insurance by: Prefilling information from Vertafore agency management systems and third-party sources to reduce redundant, manual data entry. Connecting agencies and carriers in real-time, allowing the exchange of structured data and real-time quoting. Enabling real-time digital collaboration with clients to complete applications quickly and accurately. The solution also reflects Vertafore's ongoing, multimillion dollar investment to deliver products with a modern user experience. By building Commercial Submissions from the ground up, Vertafore has placed integration, connectivity, and design thinking at the core of the product. As a result, the solution creates a seamless experience and incorporates inclusive design principles that eliminate barriers, improve accessibility and overcome situational challenges that impede user productivity. Commercial Submissions has been recognized by the Golden Bridge Awards®, achieving Gold in the Business-to-Business Product category. The solution also landed on the SaaS Awards' shortlist for Best SaaS Newcomer and received a Silver award for the 2021 Best New Insurance Solution from the American Business Awards. About Vertafore As North America's InsurTech leader for more than 50 years, Vertafore is modernizing and simplifying the insurance life cycle so that our customers can focus on what matters most. Vertafore's solutions provide end-to-end connectivity across the distribution channel, improve the client and agent experience, unlock the power of data, and streamline essential workflows to drive efficiency, productivity, and profitability for independent agencies, MGAs and carriers.

Read More

CORE INSURANCE

NFP Acquires UK-Based Brokerage Bentley Insurance Services

NFP | October 19, 2022

NFP, a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor, today announced it has acquired Mason James Insurance Services Limited (doing business as Bentley Insurance Services), one of the largest brokers in Staffordshire. Bentley has provided complex commercial and personal insurance solutions since 1922. Mike Rostron, managing director at Bentley, will join NFP's commercial insurance leadership team in the UK and continue to drive company growth across Staffordshire and beyond. "Bentley Insurance Services has a longstanding presence in Staffordshire, a great reputation, strong leadership and well-earned trust in the region, making them a perfect partner for NFP, We are proud to welcome Bentley, a broker that embodies our ethos, to our growing global group." - John Paul Allcock, UK and Ireland managing director at NFP This acquisition aligns with NFP's growth strategy and brings another respected, service-orientated broker to NFP's UK operations. With this deal, NFP grows its roster of exceptionally skilled brokers, furthering its commitment to bringing bespoke risk management solutions to more businesses and individuals across the UK. The last two years have been particularly challenging for organisations and consumers alike, and their insurance needs have evolved, This partnership allows us to offer services to businesses in the Midlands that more effectively meet the challenges our clients face today, said Allcock. Bentley will maintain its local office presence in Staffordshire, and all existing Bentley customers will continue to be advised and managed by their current broker in the same way they always have. Through NFP, clients will also have full access to enhanced products and a broader range of solutions designed for their specific needs. We're excited to join the NFP family and collaborate with colleagues that share our commitment to providing client-centric solutions and maintaining a people-first work culture, This incredible opportunity also allows us to offer our clients access to NFP's broad network of integrated insurance, benefits, wealth management and retirement solutions, said Rostron. About NFP NFP is a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor that provides solutions enabling client success through the expertise of over 7,000 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors and financial institutions. NFP is the 9th best place to work for large employers in insurance, 7th largest privately-owned broker, 5th largest benefits broker by global revenue and 13th largest broker of US business (all rankings according to Business Insurance). About Bentley Insurance Services Bentley Insurance Services is one of the largest independent insurance intermediaries in Staffordshire and has been dealing with personal and commercial insurances since 1922. We specialise in providing bespoke insurance solutions for private cars (including high performance and high value vehicles), household insurance, commercial insurance, industrial insurance, self-employed tradespeople and liability.

Read More