Software enables total management of distribution channels.
Press Release Summary:
Distribution Channel Management(TM) (DCM) v3.0 facilitates roll-out of sales and marketing strategies through distribution channels and to point of sale, with full capabilities for DCM, policy administration, compensation management, and data analysis. Designed for large companies, distribution management and compensation product enables insurance and brokerage companies to manage complex distribution channels. Software includes support for electronic mass renewals and terminations.
Original Press Release:
Versata Distribution Channel Management Solution Fully Enables Mass Renewals and Supports Broker Communications
AUSTIN, Texas, Jan. 29 -- Versata announced today enhancements to the Insurance and Brokerage industry's most complete Distribution Channel Management(TM) (DCM) solution for large companies. The newest release, DCM 3.0, provides comprehensive support for electronic mass renewals and terminations and includes other significant communications and maintenance improvements.
"Working with our industry-leading customers, Versata continues to identify and release functionality that will serve the Insurance and Brokerage industry's most critical business and regulatory needs," said Leela Kaza, general manager of Versata's financial services business unit. "The newest release will have significant bottom line impact for our customers as we automate and streamline processes that have been largely manual in the past."
The Versata Distribution Channel Management(TM) (DCM) solution is an industry-specific distribution management and compensation product that enables insurance and brokerage companies to successfully manage complex distribution channels. The newest release, available today, includes comprehensive support for the electronic processing of appointment mass renewals, enabling companies to create producer records and file appointment requests automatically. In addition, DCM 3.0's newest integration tools dramatically improve compliance by allowing any system in the enterprise to obtain a simple yes or no answer as to whether an individual is correctly credentialed for a sale via an ACORD standard service call into DCM.
"Versata's newest release will automate several of our internal processes, and it is expected to save us thousands of hours in manual labor and overtime spent processing renewals and communicating changes out to our brokers," said Dan Kubica, Director Field Financial at Pacific Life. "As an industry leading life insurance provider, Pacific Life strives to automate these processes so that we can focus our efforts on how to best serve our customers." Pacific Life's Life Insurance division chose Versata's solution based on the depth of insurance-industry specific functionality coupled with proven lowest total cost of ownership.
Versata's solution suite for Insurance and Brokerage companies enables large, complex organizations to quickly roll out new sales and marketing strategies through distribution channels and to the point of sale, with full capabilities for DCM, policy administration, compensation management, point-of-sale applications, and data analysis. To speed deployment and return on investment of its suite, Versata provides a completely configurable, hosted system, supplied and supported on premise or at Versata, offering everything from hardware and the operating system to the database and all third party components. All components are tuned for performance and ease of support on an open source platform.
Versata's comprehensive solutions for Insurance and Brokerage are available today. For more information, visit versata.com/solutions/insurance.htm .
About Versata
Versata Enterprises, Inc., and its family of companies, is the leading provider of enterprise software solutions that deliver business results, performance, and scalability with a low total cost of ownership. Versata's patented solutions decrease IT costs by eliminating expensive maintenance, by leveraging open source technology, and by accelerating value delivery to business customers. Versata partners with corporate IT departments to enhance and simplify critical operations in the automotive, financial services, consumer/public, government, and manufacturing industries. For more information, visit versata.com .
CONTACT: Krista Glotzbach of Versata Public Relations, +1-415-271-7638, or krista_glotzbach@versata.com
