Vertafore Announces New Carrier Partners Live on Commercial Submissions
(Image source: Vertafore.)
Vertafore (Denver), a provider of distribution-related insurance technology, has announced that Acuity Insurance, Westfield Insurance and CNA Insurance are the latest carriers to go live on its Commercial Submissions platform. The vendor characterizes the additions as reflecting the platform’s growing momentum and mark a milestone in Vertafore’s vision to modernize commercial insurance for the independent agency channel.
Vertafore introduced general availability for Commercial Submissions in March 2022. The vendor reports that 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.
Vertafore has long been one of the most prominent providers of market connectivity solutions that enable agencies and carriers to speed up binding and quoting. In 2021, Vertafore says it 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 says it built on this connectivity success when it set out to solve challenges of commercial insurance quoting. Since the product’s launch, agencies have generated thousands of quotes across three lines of business in 40 states, Vertafore sasys.
Vertafore attributes the success of Commercial Submissions to what it calls the 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,” comments Amy Zupon, CEO, Vertafore. “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.”
Vertafore asserts that Commercial Submissions delivers a “game-changing” experience for independent agents and the business clients they serve. The vendor explains how the platform simplifies and automates commercial insurance as follows:
- 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.
Vertafore says the solution also reflects the company’s ongoing, multimillion dollar investment to deliver products with a modern user experience. By building Commercial Submissions from the ground up, Vertafore says it has placed integration, connectivity, and design thinking at the core of the product. As a result, the vendor adds, the solution creates a seamless experience and incorporates inclusive design principles that eliminate barriers, improve accessibility and overcome situational challenges that impede user productivity.
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