Vertafore Inc. — a major insurance technology company — has acquired VUE Software.
VUE Software sells systems that help insurers manage, and pay, their agents, brokers and other product distributors.
(Related: 7 Things Health Agents Think About Insurers)
VUE has been active in the life, annuity and health distribution markets as well as the property-casualty distribution market.
The price of the deal was not available.
Vertafore says it will use VUE technology to improve and extend the services it offers through its Sircon unit. Sircon provides insurance distribution compliance and producer credentialing
Integrating the VUE and Sircon systems should take about six to 12 months, Vertafore says.
Vertafore says it hopes VUE integration will help Sircon offer better producer compensation management tools and speed up the process of getting agents on board.
Vertafore did not give details about it will integrate VUE.
Stephen Bruno, VUE’s founder and chief executive officer, said in a statement that the deal is great news for VUE’s employees and customers.
Vertafore is based in Denver, and VUE is based in Coconut Creek, Florida.
— Read Mutual of Omaha to Use VUE Producer Software, on ThinkAdvisor.