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Vertafore Announces Reorganization

The insurance software and services company will reorganize around market segments rather than products.

Vertafore — an insurance software and services provider with principal operating entities such as Sircon, AMS Services, ImageRight and SilverPlume — has announced a corporate reorganization effort that it is calling 'One Vertafore.' Under the reorganization plan, the Bothell, Wash.-based company will organize around market segments rather than products by creating three business units.

According to Vertafore president and CEO Euan Menzies, the company's current product offerings will be reorganized under three new business units defined by market segments. Vertafore Agency Markets will serve the agent and broker community, while Vertafore Carrier & MGA Markets will work with carriers, managing general agents, reinsurers and premium finance companies. The third unit, Sircon, A Vertafore Company, will focus on compliance, licensing and government markets.

"This new structure will allow us to better integrate products, provide our customers with more consistency in sales, support and services, and leverage the insurance and technology expertise from more than 1,100 Vertafore employees," Menzies said in a press release.

Under the reorganization, Vertafore will continue to sell established products such as ImageRight content management and workflow products, SilverPlume Sage and PL rating, Sircon Compliance Express and Producer Manager and the AMS 360, Sagitta and BenefitPoint agency management systems.

In conjunction with the reorganization, Vertafore also announced that it has named Bill Bunker as president of the Agency Markets group and Matt McKernan as president of Carrier & MGA Markets. In addition, the vendor has appointed Susanna Morgan to the role of senior vice president, product strategy and marketing and Vance Huntley to senior vice president, chief technology officer.

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