Vertafore, a Roper Technologies Company Strengths, Domain Expertise, and Key Differentiators
As part of Vertafore’s best-in-class platform, AMS360 is an agency management system that provides the foundation for independent agencies to grow their businesses and boost their profitability. It helps streamline workflows, improve renewals and retention, and drive new business resulting in improved employee productivity and superior customer experience.
In January 2019 Vertafore introduced its new Orange Partner Program, providing open access and integration opportunities with Vertafore APIs for customers and partners alike. The program will empower Vertafore customers to take advantage of integrations with existing products, while third-party technology providers will have access to integration opportunities with Vertafore’s full suite of agency management system products through available APIs.
The Vertafore Orange Partner Program will be available to partners who have solutions that currently integrate with one of Vertafore’s industry-leading P&C Agency Management Systems including QQCatalyst, AMS360, and Sagitta as well as BenefitPoint and ImageRight.
With over 150,000 agency management system users, Vertafore’s Orange Partner Program will enable customers to take advantage of pre-built integration with certified solutions from industry-leading technology innovators such as DocuSign, ePayPolicy, and Agency Revolution.
Vertafore, a Roper Technologies Company Recent Developments
In April 2019 Vertafore has migrated its business-critical products and workloads to the world’s leading cloud and has selected AWS as its standard for artificial intelligence and machine learning workloads. Vertafore is already running key customer-facing workloads on AWS, including data and analytics solution RiskMatch and agency management system and comparative rating platform QQ. This move will enable Vertafore to innovate on top of the most reliable infrastructure and leverage the breadth and depth of AWS to improve workflows and provide insights that insurers and underwriters can use to better serve their customers.
Vertafore is working with the Amazon ML Solutions Lab to build new and enhance existing products using AWS’s machine learning technologies. For example, Amazon Textract is being leveraged to help Vertafore extract text and data from virtually any document, and Amazon SageMaker—a fully managed AWS machine learning service—is enabling Vertafore to build, train, and deploy machine learning models that will automate policy checking capabilities for customer service representatives.
Vertafore, a Roper Technologies Company Mergers and Acquisitions (M&A) Activities
In August 2020, Roper Technologies has agreed to acquire Vertafore in an all-cash transaction valued at approximately $5.35 billion. This is the third change of ownership for Vertafore in the past decade. Bain Capital and Vista Equity, current owners of Vertafore, acquired it in 2016 for $2.7 billion from TPG Capital, which paid $1.4 billion for the company in 2010.
Vertafore, a Roper Technologies Company Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Vertafore, a Roper Technologies Company applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Vertafore, a Roper Technologies Company and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Vertafore Agency Platform customers.
Vertafore, a Roper Technologies Company Overview
Ownership: - NYSE : ROP
Number of Employees: 1860
Vertafore, a Roper Technologies Company Key Enterprise and Cloud Applications
Vertafore Agency Platform
Vertafore, a Roper Technologies Company Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Vertafore, a Roper Technologies Company Revenue Breakdown By Type, $M:
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Vertafore, a Roper Technologies Company Enterprise Applications Revenues By Functional Markets, $M:
Vertafore, a Roper Technologies Company Enterprise Applications Revenues By Verticals, $M:
Vertafore, a Roper Technologies Company Revenues By Region, $M
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Vertafore, a Roper Technologies Company Direct vs Indirect sales
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Vertafore, a Roper Technologies Company Customers - Breakdown by Geo, Size, Vertical and Product
No. of Vertafore, a Roper Technologies Company Customers: 21000
No. of Vertafore, a Roper Technologies Company Enterprise Applications Customers: 21000
No. of Vertafore, a Roper Technologies Company Cloud Customers: 10000
No. of Vertafore, a Roper Technologies Company Cloud Subscribers: 500000
Vertafore’s installed base is broken down into 25,000 agencies, 1,000 carriers and 750 MGAs and close to 500,000 users.
After the acquisition of RiskMatch in 2017, RiskMatch's customer wins are Haylor, Freyer & Coon, LP Insurance Services, Baldwin Risk Partners, Ross & Yerger, RCM&D, Sylvia Group, The Harry A.Koch Co., NFP, Flood and Peterson, PSA Insurance & Financial Services and others.
Sample customers include Bennion Taylor, CAI Insurance, Conrad Insurance, Heist Insurance Agency, Leaders Life, Lloyd Purdy, KESA, Moody Insurance, Renaissance Group, Renaissance CS, Sattler Insurance, and Statewide Insurance.
Customers of ImageRight content management and workflow applications included AXA Liabilities Managers, Barnstable County Mutual Insurance Company, Builder's Trust, Central Security Life, Claims Administrative Services, Cox Specialty Market, FHM Insurance Company, Georgia Farm Bureau Mutual Insurance Co., Hallmark Financial Services, Locomotive Engineers&Conductors Mutual Protective Agency, Mississippi State Rating Bureau, Old National Insurance, Phoenix Aviation Managers, Property and Casualty Insurance Guaranty Association, Southwest Insurance Partners, and Starkweather&Shepley Insurance Brokerage.
Vertafore, a Roper Technologies Company Market Opportunities, M&A and Geo Expansions
In May 2019 Vertafore has acquired VUE Software to complement its Sircon solutions and create the most powerful insurer distribution management platform in the industry. Founded by Computer Solutions & Software International over two decades ago, VUE Software offers configurable solutions to meet the unique needs of the Life and Annuity, Health, and Property and Casualty markets. With this transaction, Vertafore expands its suite of insurer solutions with VUE's distribution technology. The resulting solution will improve operational efficiency, minimize risk, upgrade the distributor experience and organize the entire distribution management lifecycle.
Vertafore acquired RiskMatch, a business intelligence, and analytics company that provides industry-leading portfolio management and placement solutions to insurance brokers and carriers. RiskMatch will operate as a separate business unit within Vertafore and Founder and CEO Kabir Syed will join the Vertafore Executive Team.
Vertafore, a Roper Technologies Company Risks and Challenges
In August 2020, Vertafore was acquired by Roper Technologies for $5.35 billion. The purchase price will almost double the initial investment by Vertafore's current owners, Bain Capital and Vista Equity Partners, who bought the software company for $2.7 billion in 2016. Roper has been aggressive in pursuing acquisitions, swinging billion-dollar deals for software companies iPipeline in 2019, PowerPlan in 2018 and Deltek in 2016. According to Reuters, this would be the company's biggest acquisition to date.
Vertafore, a Roper Technologies Company Ecosystem, Partners, Resellers and SI
Vertafore's technology partners are Aon National Flood Services, Birst, DocuSign, Guidewire, Microsoft, Mitek.
Vertafore, a Roper Technologies Company Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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