NU Online News Service, Jan. 26, 2005, 5:03 p.m. EST

Vertafore Inc., Windsor, Conn., is setting up a new division.[@@]

Vertafore, a company that has focused on developing software for property-casualty insurance agencies, has formed the Vertafore Benefits unit to get into the business of automating benefits agencies and brokerage firms.

The new unit, which will be based in New Port Ritchey, Fla., will be led by S. Stuart Spector, an executive who formerly worked for Benelogic L.L.C., Timonium, Md.

The new unit will sell one system that agencies can use to sell and manage policies and a second system that can handle benefit plan administration.