What We Heard from Vertafore CEO Jeff Hawn (Part 2)
By Kitty Ambers, CPIA, CIC, CISR | 7/18/2016
Let’s pick up where we left off in part 1
of my blog post about the NetVU “Town Hall” hosted by the Principal Connection Virtual Chapter, in which members had an opportunity to hear directly from Vertafore chairman and CEO Jeff Hawn.
Here are more of the specific issues covered in the town hall:
Mobile is on the move. NetVU members are clamoring for a client-facing mobile application from Vertafore to gain a competitive advantage. Vertafore is building its client portal with “a mobile-first approach” rather than retrofitting existing technology, Jeff said.
The goal of the mobile app is access for customers to a range of actions such as viewing policy details, accessing identification cards, initiating claims and downloading certificates. One feature in the works is a “white label” version, suggested by a NetVU member, so an agency can use its identity on the app.
The recent acquisition news doesn’t interrupt business. The May 22 announcement that Bain Capital Private Equity and Vista Equity Partners would acquire Vertafore from TPG Capital is important. But he asserted, Vertafore management takes a “business as usual” posture no matter who owns the firm.
“We are being sold by one globally prominent, deep-pocketed, well-capitalized private equity firm to another joint venture made up of two globally prominent, deep-pocketed private equity firms.”
“Independent of whether a company is sold or not sold, you’re never past about the ‘sixth inning’” said Jeff, a baseball fan. “That’s the nature of business.”
“We will be constantly striving, fine-tuning, adjusting, calibrating in a way that helps us put our best foot forward for the customers,” concluded Jeff.
NetVU as a group of Vertafore users and Vertafore as a technology solutions company are separate entities. Vertafore provides users with technology solutions and system support, while NetVU is a user-driven organization for sharing knowledge, providing learning experiences and joining together for advocacy.
The two organizations, while distinct in their missions and operations, have enjoyed a long-standing partnership. Leaders of the organizations often exchange ideas and work cooperatively for the benefit of users.
This NetVU town hall was every bit in that spirit of interaction, and I aim to provide more of these opportunities for NetVU members going forward.
Jeff Hawn (read about Jeff’s background on his LinkedIn profile
) leads Vertafore as chairman and CEO. Vertafore, with more than 45 years of insurance expertise, now provides more than 500,000 insurance professionals with insurance agencies/brokers, insurance carriers, managing general agents, and others with technology solutions. The company’s products include the AMS360 and Sagitta management systems, ImageRight, and Sircon agency and carrier solutions.