Digital insurance software provider Vertafore has acquired VUE Software to establish a more powerful insurance distribution management platform.
Having closed the deal, Vertafore will be widening its tool suite for insurers. New applications will boast operational efficiency, minimised risk, improved distributor experience distribution management organisation.
The acquisition was made by Vertafore as a way to compliment its Sircon solutions. Sircon delivers tools to insurers which can help them save money, reduce compliance risk and accelerate time-to-revenue. Insurance firms can leverage Sircon to ensure they have accurate credential visibility, and automated licencing and regulatory updates.
Moving on from the deal close, the next six to twelve months will see the developers integrate the two platforms together. Once combines, they will have enhanced capabilities around compensation management and improved agency onboarding.
Furthermore, carrier and agency customers will be able to access deep operational expertise of the product development, service, and implementation teams that work to improve business optimisation.
Sircon SVP and general manager Vic Saliterman said, “For years, Sircon has been recognized by many as the leading credentialing and compliance solution in the industry. With the addition of VUE Software’s suite of innovative tools for compensation and relationship management we are now able to offer customers the most complete distribution management system on the market.”
VUE provides configurable solutions which are tailored to the life and annuity, health, and property and casualty markets. Some of the tools it offers include distribution-modernisation, CRM tools, revenue reconciliation, contracting and compliance, compensation and onboarding.
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