Overall Rank: 106
Category: Finance & Accounting
Category Rank: 5
- Top Software Company of 2021
Insurance is about relationships, and technology should make those relationships stronger. That’s why, for more than 50 years, Vertafore’s mission has been to simplify and automate insurance distribution so that its customers can focus on what matters most to them: servicing their clients, empowering their people, and growing their business. Vertafore is the only InsurTech company serving the entire insurance distribution channel, including more than 20,000 independent agencies, 1,000+ carriers, and 23 state governments.
After establishing itself as the first-ever InsurTech, Vertafore has remained the industry leader for innovation with its superior product offerings, inventive approach to customer success, and pledge to modernize the insurance industry. Its solutions automate and accelerate end-to-end processes, enabling players to spend less time on manual tasks and more time building customer relationships. Vertafore’s solutions also drive incremental revenue via world-class digital workflows, deep data analytics and unparalleled industry insights.
Vertafore’s 2020 acquisition by Roper Technologies, a leading diversified technology company, is proof of the InsurTech leader’s commitment to provide innovative and critical solutions to help customers further modernize their operations. Since 2016, Vertafore has added more than 500 employees and improved its customer net promoter score by 200% while significantly increasing its annual recurring sales and investment in its products.
Vertafore is North America’s leader in InsurTech innovation and industry modernization, serving more than 20,000 independent insurance agencies, 1,000+ carriers and 23 state governments. Vertafore was the first InsurTech provider and, more than 50 years later, continues to lead the industry with fresh solutions proven to increase end-insured retention, drive business growth, and accelerate process efficiency for all stakeholders.
As the first-ever InsurTech, Vertafore has remained the industry leader for innovation with its superior products offerings, inventive approach to customer success, and pledge to modernizing the insurance industry.
Vertafore is the only company serving the entire insurance distribution chain. From independent agents and brokers to carriers, managing general agencies and state regulators, Vertafore’s mission is to streamline distribution and access for all stakeholders. Vertafore’s solutions automate and accelerate end-to-end processes, allowing independent agents, carriers and MGAs to be more productive, spend less time on manual tasks, and more time building relationships with their clients.
To fulfill Vertafore’s purpose to simplify and automate the insurance lifecycle for agencies, brokers, carriers, and MGAs, Vertafore focuses on these three strategies:
1. Modernizing the agency: Delivering the modern client and employee experience required for agencies to succeed now and into the future, including leading agency management systems, client digital tools, and market connectivity offerings.
2. Powering Distribution Management: Making carriers and distributors faster and easier to work with across onboarding, compliance, and compensation.
3. Unlocking the Power of Data: Leveraging artificial intelligence, machine learning, and data science expertise to deliver insights needed for new horizons of growth.
Since 2016, Vertafore has added more than 500 employees and improved its customer net promoter score by 200%, while significantly increasing its annual recurring sales and investment in its products. All of these initiatives have been done in support of the company mission to automate and simplify insurance distribution to drive value for its customers.
Vertafore recognizes that everyone has an active role to play in helping to combat injustices and to create lasting, positive systemic change. To support the Black community and the broader causes of racial and social justice, Vertafore created Voices for Change, a series of fireside chats with leaders from the Black community and beyond to discuss issues of race, social justice, and diversity.
Additionally, Vertafore’s InternX initiative was formed to bring candidates from underrepresented communities to STEM internships. The program is helpful for both Vertafore and InternX team members, providing job experience with a leading tech company and growing industry. They join the Vertafore team to work hard, learn, and contribute on their way to successful careers, whether in insurance software or another field of their choosing.
Vertafore also has multiple employee resource groups to help foster a diverse, inclusive workplace aligned with Vertafore’s mission and values.
- “Women of Vertafore” was formed to provide women at Vertafore with a variety of opportunities for professional and personal development. It also helps women employees find mentors to help guide their career path.
- “Black at Vertafore” provides employees with a safe space to discuss and engage with issues affecting the black community at Vertafore and beyond. This group was developed to create a community and culture that ensures the black community—a group that is generally underrepresented in the technology community—feels supported and empowered.
- “Queertafore” was formed to promote an inclusive workplace culture that supports the LGBTQ+ employee base at Vertafore.
- The “Verdefore Green Team” is focused on environmental sustainability, green initiatives, and collaboration to reduce the footprint of the Vertafore offices and community.
- The “Vertafore Cares Committee” was created to encourage and facilitate ongoing volunteer and philanthropic opportunities for the Vertafore team. The committee meets bi-weekly to discuss the latest initiatives, plan for upcoming events, and talk about which organizations they want to support.
What do you like best about the leadership team?
“Communication and visibility about the company as a whole.”
“They have shown tremendous social and community responsibility that is genuine, and I’m most proud to work here because of that.”
What is most positive about the culture and environment at your company?
“We are given a lot of flexibility and space to be ourselves in a very inclusive environment.”
What are some of the best things about your team?
“Collaboration and understanding. Everyone is equal, no matter the title.”
What makes you most happy at work?
“Making a positive difference for my customers and team/department members.”