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Vertafore

@vertafore.com

Vertafore, an Insurance Software Solutions/Services for Carriers, Agencies, MGAs, Independent Agents.

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About

Description

Vertafore is a leading provider of software and services for the insurance industry in the United States. The company is headquartered in Denver, Colorado. Vertafore was established in 1969 as Agency Management Systems (AMS), and it initially focused on providing software solutions for insurance agencies.


Over the years, the company expanded its product portfolio and grew through a series of acquisitions. In 2004, AMS was acquired by Hellman & Friedman, a private equity firm, and rebranded as Vertafore. Since then, Vertafore has continued to grow and innovate in the insurance industry.


The main products and services offered by Vertafore include agency management systems, customer relationship management tools, rating and underwriting software, workflow automation solutions, and data analytics platforms. These tools help insurance agencies streamline their operations, improve customer service, and enhance profitability. Vertafore operates primarily in the United States, serving insurance agencies, carriers, and brokers across the country.


The company has a strong market presence and is considered a market leader in the insurance software industry. It has established strategic partnerships with various insurance carriers and organizations to enhance its offerings. Vertafore has several noteworthy subsidiaries and joint ventures.


This includes Sircon, a provider of compliance and producer lifecycle management solutions, and Keal Technology, a leading insurance broker management software provider in Canada. These subsidiaries contribute to Vertafore's global operations and enable it to serve a wider customer base. In terms of its market position, Vertafore has a significant share of the insurance software market in the United States.


The company faces competition from other software providers such as Applied Systems and Guidewire. However, Vertafore's comprehensive product suite, longstanding industry experience, and customer-centric approach enable it to maintain a strong position in the market. Vertafore has experienced significant growth and success over the years.


In 2017, the company was acquired by Bain Capital Private Equity and Vista Equity Partners, signaling a new phase of growth and expansion. This acquisition has enabled Vertafore to invest in new technologies, enhance its product offerings, and extend its reach in the insurance industry. As of the latest available information, Vertafore continues to innovate and evolve to meet the changing needs of the insurance industry.


The company is committed to providing its customers with cutting-edge software solutions and exceptional service. With its strong market position and strategic partnerships, Vertafore is well-positioned to continue its growth and success in the insurance software industry

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Company Type

Public Company

Company Size

1001-5000

Year Founded

1969

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