(Image source: PIRO4D.)
Vertafore (Denver), a provider of distribution-related insurance technology, has announced it has acquired VUE Software (VUE; Coconut Creek, Fla.), a provider of insurance distribution modernization solutions, to complement its Sircon solutions and fulfill Vertafore’s stated goal of creating what it calls the most powerful insurer distribution management platform in the industry.
Founded by Computer Solutions & Software International (CSSI) over two decades ago, VUE Software offers configurable solutions to meet the unique needs of the Life and Annuity, Health, and Property and Casualty markets. Vertafore characterizes VUE he as prominent in the distribution-modernization movement, providing insurance organizations tools to drive revenue growth and create competitive advantage, supporting multiple product types, distribution channels, and hierarchy types.
With this transaction, Vertafore expands its suite of insurer solutions with VUE’s distribution technology. The resulting solution will improve operational efficiency, minimize risk, upgrade the distributor experience and organize the entire distribution management lifecycle, according to the vendor.
“VUE’s strong market position, momentum and laser-focus on modernizing insurance distribution make it a natural fit for Vertafore,” comments Amy Zupon, CEO, Vertafore. “Combining VUE with Sircon’s credentialing and compliance strength, we can now deliver an integrated and simplified solution for insurers managing their distribution.”
Over the next six to twelve months, Vertafore says its developers will be integrating the two platforms to provide enhanced capabilities around producer compensation management as well as faster agency onboarding.
Most Complete Distribution Management System
“For years, Sircon has been recognized by many as the leading credentialing and compliance solution in the industry,” comments Vic Saliterman, SVP & General Manager, Sircon. “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.”
Vertafore’s statement on the acquisition notes that in addition to the technological innovations born from this acquisition, carrier and agency customers will also benefit from the deep operational expertise of the combined teams of product development, service, and implementation teams who work daily to help customers optimize their businesses.
“We are thrilled that VUE is now part of the Vertafore family, an amazing team who, like us, is solely focused on delivering end-to-end solutions that simplify insurance distribution,” said Stephen Bruno, founder and CEO of VUE. “This is great news for our employees and our customers. Vertafore shares our vision for modernizing the future of insurance distribution, and we are excited to help expand their industry-leading solutions.”