Vertafore Producer Lifecycle Management Reaches 150 Million Transactions

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Vertafore doubles rate of state regulator licensing transactions processed digitally to 90%.

Vertafore (http://www.vertafore.com), the leading provider of software that transforms the business of insurance, today announced that over 150 million producer licensing related transactions have been completed by Vertafore customers since 1998.

Additionally, Vertafore is announcing that 90% of licensing transactions are processed electronically by regulators using the Sircon for States® web based solution, Vertafore’s state-based insurance regulatory application. In comparison, 42% of state transactions were previously completed on paper between 1998 and 2012, according to Vertafore monitoring.

“Vertafore has led this transformation by developing the innovative services that enable electronic processing of once manual paper processes,” said Tim Owen, vice president of product management at Vertafore.    “Regulations for producers selling insurance and securities products vary widely from state to state, often causing confusion and inefficiencies. Vertafore is committed to providing services that automate the compliance process, reducing paper-related costs and mitigating risks associated with meeting the stringent reporting and filing requirements of state regulators.”

Vertafore’s Sircon for States® is regulatory management software that provides state departments of insurance an automated, efficient way to manage, process, and track critical information on insurance companies, agencies, and individual producers. The software also gives education providers a direct connection to states, allowing faster course completion submissions and even faster processing.

“Vertafore is the leading-edge provider of licensing and regulatory management technology,” said Lisa Tordjman, supervisor of producer licensing at Idaho Department of Insurance. “Through their commitment to communication and transparency, they have accelerated the industry’s ability to properly execute the transactions necessary to ensure compliance.”

Vertafore offers a suite of producer lifecycle and regulatory management products that make licensing and compliance processes seamless and dependable. To learn more about Vertafore Producer Lifecycle Management, visit http://www.vertafore.com/plm.

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About Vertafore
Vertafore delivers software and services that transform the business of insurance. Unique to the industry, more than 20,000 customers rely on Vertafore to provide integrated technology that connects the entire industry with the most complete source of solutions—agency management, rating and connectivity, content management and workflow, information solutions and producer lifecycle management—so their businesses run better and are more profitable. For more information about Vertafore, please visit http://www.vertafore.com.

© 2013 Vertafore Inc., Vertafore and other trademarks are trademarks of Vertafore and its subsidiaries. All rights reserved.

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Kellen Davison
Vertafore, Inc.
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