NU Online News Service, July 20, 11:33 a.m. EDT
Following on the heels of another significant insurance technology acquisition, Vertafore announced on Tuesday that is has acquired StoneRiver FSC, Inc. from StoneRiver Group in a move to bolster its rating, sales management and agency management solutions.
Vertafore is a provider of software and information to the insurance distribution channel, including independent agents, brokers, MGAs, carriers, and reinsurers. StoneRiver FSC is an insurance rating and management system for independent agents, brokers, insurance carriers, and managing general agencies.
Vertafore says it hopes the acquisition helps its customer agents sell more business faster by providing them with broader rating, rate comparison, data aggregation, and analysis tools. It also anticipates FSC will complement its current personal lines rating offerings with its PL Rating product.
“The acquisition of FSC demonstrates our ongoing commitment to delivering point-of-sale solutions that allow independent agents to increase revenue and efficiency by providing faster quoting and better service to their customers,” says Euan Menzies, president and CEO of Vertafore, in a statement. ”In addition, we are particularly pleased to address the need to increase agency sales productivity with the industry's first sales management system, FSC Pipeline, which is uniquely designed to enable producers to manage their prospects and close business faster.”
A Vertafore spokeswoman says over 100 StoneRiver FSC employees are expected to join Vertafore.
For more information about the acquisition, click here.
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