WASHINGTON–Vertafore, the owner of AMS and a suite of other agency management technology products, is aiming to integrate those services into one system, the company's chief executive said today.
Addressing the opening session of the 33rd AMS Users Group National Conference, Euan Menzies, president and chief executive officer, said the company is planning to integrate its technology products under one umbrella, while at the same time recognizing the individual needs of different size agencies.
"Those of you who have been here at prior conferences have heard me talk about how what we do is designed not to be disruptive of your business but additive," said Mr. Menzies. "I think the new changes we have in mind will definitely fit into that mix."
The key considerations the company is making as it integrates its products is developing its technology to not only help improve the way agencies do their business but also reflect the way agents want to do business, he said.
Mr. Menzies said there is a lot of "best in breed out there," but systems owned by Vertafore do not work well together.
Besides the AMS agency management systems AMS 360 and Sagitta, Vertafore also owns BenefitPoint and other agency management systems; ImageRight content management and workflow products; SilverPlume Sage and PL rating; and Sircon's Compliance Express and Producer manager, along with other technology products.
He said the aim of the company's product integration is to answer agencies' need for integrated technology and also "unleash your potential" through more efficient systems.
However, he admitted, it is a "simple idea, but more complicated when we get into execution." He said the unification effort would take anywhere from 18-to-21 months.
Today's address follows up an announcement late last month by the Bothell, Wash.-based company that it was reorganizing its management structure under the single Vertafore name.
In his address, Mr. Menzies said the aim of the restructuring was not to cut costs or reduce headcount but to promote the notion of one suite of products.
"It is a new team with old faces," he observed.
Among the changes the company announced in February is an organization around market segments instead of products. The markets consist of Vertafore Agency Markets serving agents and brokers; Vertafore Carrier and MGA Markets servicing carriers, managing general agents, reinsurers and premium finance companies; and Sircon, a Vertafore Business, which focuses on compliance, licensing and government markets.
Speaking about the general economic outlook and how well the company is doing, he said Vertafore did well in 2008 with strong revenue and profit and continued reinvestment in the company.
In the current economic climate, he said the focus for his company and agencies alike should be getting back to basics and understanding what the business strategy should be.
"The hardest thing about strategy is not deciding what to do but what not to do," he remarked.
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