NU Online News Service, March 29, 11:20 a.m. EST

NASHVILLE, Tenn.--A software expert told insurance agents and brokers attending an automation conference to position themselves for an economic upturn by investing now in technology.

Businesses have "got to invest now" so when there are "small upturns" in the market place they will be in a position to "take advantage" of that future, said Euan Menzies, president and chief executive officer of Bothell, Wash.-based insurance software and service provider, Vertafore.

He spoke here at the 34^th annual national conference of AMS Users Group, which changed its name Friday to NetVU (Network of Vertafore Users).

Mr. Menzies told his listeners that right now Vertafore is continuing to invest in improving its technology to develop a seamless work experience for users.

"We see evolution, not revolution," he said.

He reviewed how Vertafore has continued to work at improving its ease of use and seamless integration between agency and carrier systems. Saying he was avoiding the term SEMCI (Single Entry, Multiple Company Interface), he said the company is improving its software so agencies and brokers will "see more seamless transaction with carriers."

"It's all about building capacity for your business," said Mr. Menzies.

"It is not enough to build for the future," he continued. "We need to make sure you can invest in the future."

He assured attendees that Vertafore continues to make the needed investments in technology to provide a better experience and is studying the integration area to improve interface.

Among some of the technologies he highlighted, Sagitta UI, the agency management system for large, complex agencies and brokers, is being refreshed because it has "gotten tired and stale." While it does the job, he said the product needs to be improved to appeal to the "I-Pod generation."

The company, he continued, is working on password management capabilities that will allow for the management of identification authority aimed at preventing unauthorized access to agency or personal information, adding that this is a huge errors and omissions risk users want answers for.

Just today, Vertafore said it will release Vertafore Identity Management that will allow the company's users to use one username and password to connect with major identity management and federation vendors and systems. The product will be available to the public toward the end of 2010, the company said.

In an interview with National Underwriter, Susanna Morgan, Vertafore senior vice president of product strategy and marketing, said the company has worked with insurance broker BB&T and The Hartford to develop this technology. Other national carriers have shown great interest in the product, she said, and is optimistic about future adoption by the industry.

During the conference, Vertafore unveiled WorkSmart, a content management and workflow technology solution for agents and brokers with shops of more than 50 employees. WorkSmart's precursor is ImageRight, used by insurance carriers, managing general agents and some large brokers. The company does not have a version for smaller brokers and agents of less than 50 employees.

One lesson from the conference, said Ms. Morgan, is that agents' customers want more self-service features to have continual Web access to their accounts for the purpose of changing an insured vehicle, printing insurance identification papers, or account information.

She said it is important to develop these systems for agents, not only because their customers want it, but it also helps independent agents and brokers compete with direct writers.

In his speech, Mr. Menzies said Vertafore is confident that it will soon be able to provide users with commercial lines submission capabilities that will be an efficient link similar to what has been developed for personal lines.

While it has been hard to get it right, Mr. Menzies predicted that eventually agency management systems will have the same ease-of-use capabilities as personal lines, and that will mean an increased number of submissions using that technology.

"We will get commercial right just like we got personal lines right," he said.

This story was updated April 1, 10:43 a.m. EDT, with a correction in paragraph 14.

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Agents, Brokers Told &#039;Invest Now,&#039; By Technology Expert

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