Bothell, WA – May 1, 2014 – Vertafore (http://www.vertafore.com), the leading provider of software that transforms the business of insurance, today announced that USI Insurance Services, the 10th largest insurance broker in the U.S., has improved the speed in which it processes policy information from carriers as a result of the agency’s eDelivery Hub initiative which is powered by Vertafore’s WorkSmart® content and workflow management tool. The USI eDelivery Hub allows carriers to easily transfer and import documents for brokers without requiring a third-party delivery method directly into a workflow.
Prior to developing the USI eDelivery Hub, brokers had to download client policy documents from a carrier website, or receive them via email or physical mail. The eDelivery Hub saves carriers money by reducing the amount of outgoing physical mail they have to send. Vertafore’s WorkSmart® tool is an important part of the technology that intelligently routes documents that are in the secure FTP system to the broker without ever being printed, scanned or manually routed.
With much of the documents USI receives from carriers received by mail, the eDelivery Hub has significantly reduced the paper volume that is processed by the agency. Since implementing the eDelivery Hub, savings for USI and its carrier partners are quantified as follows:
- Over 100,000 documents processed without the need for manual scanning or routing
- USI and its carrier partners save a combined average of $0.72 on every dollar spent processing paper documents
- Faster policy processing as documents get to recipients two to five days earlier
- The time savings also provide brokers with the peace of mind that they can effectively service time-sensitive policy audits within the required 10 day servicing window
“Our eDelivery Hub has been a life-saver for us as we have freed up valuable time and resources while making our business more efficient to meet our client needs,” said Stewart Gibson, Sr. VP & CIO at USI. “Vertafore is an important part of our ability to execute the vision of eliminating paper from our operations. Their technology seamlessly integrates with our systems to deliver automation that positions us better to achieve our business goals.”
About Vertafore
Vertafore’s comprehensive insurance management software solutions lead brokers and carriers to adapt to an evolving insurance industry to efficiently scale their businesses through deeper access to information and insights. The Vertafore product line is built on a platform, empowering customers and other solution providers to adapt and thrive as the market changes. Vertafore’s platform features fast innovation, partnerships with the best technology companies, and customizable solutions to help companies remain independent during a time of industry disruption. As the leader in modern insurance technology with the largest customer base in the industry, Vertafore connects every point of the distribution channel, from agencies and carriers to MGAs, MGUs, and state governments. For more information about Vertafore, visit www.vertafore.com, read the company’s blog, and follow the company on Twitter, Linkedin, and Facebook.
About RiskMatch
RiskMatch is a business intelligence and analytics company that delivers a suite of web-based solutions for insurance brokers and underwriters throughout the U.S. Its patented platform delivers an array of portfolio management, analytic and data management services designed to enable brokers and underwriters to enhance performance, reduce costs, facilitate growth, and improve their client service capabilities. For more information, visit the RiskMatch site.