Posted by
Stephanie Castro
on
9/1/2010 at 8:05 AM
VUE Software® has had an incredible year thus far. It looks equally promising moving into the fourth quarter. Throughout the course of 2010, VUE Software has seen a wider acceptance of its sales performance management and compensation management technology solutions. VUE Software’s other industry-specific solutions like Wrap-Up management have also done very well.
The inclusion of Computer Solutions and Software International (CSSI), parent company to VUE Software, in the exclusive Inc. 5000 list for the second consecutive year is evidence of success in delivering leading-edge technology solutions that effectively meet market demands. In addition, CSSI’s increase in the Inc. 5000 ranking from #2804 last year to #1791 this year—a jump of more than 1000 places—reflects the company’s rapid and sustained business growth.
The recognition CSSI and VUE Software received from Microsoft® Corporation at the Microsoft Worldwide Partner Conference 2010 holds a special place in the list of honors acquired so far. We were chosen as the Microsoft Health Plan 2010 Partner of the Year and also nominated as a finalist for the Microsoft Dynamics® Financial Services 2010 Partner of the Year.
Working closely with Microsoft and leveraging Microsoft technologies such as Microsoft Dynamics CRM, VUE Software is able to develop specialized technology platforms for insurance organizations. The momentum we generated for VUE IncentivePoint, which combines VUE Compensation Management and Microsoft Dynamics CRM, has recently been captured in a blog post by Lauren Carlson called “Microsoft Dynamics CRM Industry Solutions: Our 15 Favorites” and published in The Software Advice Blog. The post lists the blogger’s top 15 favorite Microsoft partners working with customer relationship management (CRM). VUE Software is named as the favorite Microsoft Dynamics CRM partner for the insurance industry, underscoring VUE Software’s widespread acceptance as a market leader. This achievement also testifies to both the architectural compatibility of our solutions with Microsoft platforms and our insurance domain expertise.
VUE Software demonstrated expertise not only in technology but also in high-quality communications by winning an APEX 2010 Award of Excellence in the category of Technology and Science writing for the white paper entitled How Compensation Management Drives Value and Transforms Business for Insurance Marketing Organizations and MGAs.
Successful businesses today are aware of the need for collaboration. At VUE Software, we are deeply appreciative of the skill, professionalism and dedication of our partners. We are also impressed with our clients’ pursuit of excellence and persistent efforts to improve business practices. Our partners and clients make us what we are today and help drive us toward even greater achievements.
Clearly, this year’s accomplishments have proven that the VUE Software team’s efforts have been well targeted and effective. As we remain tuned in to the needs of the market and continue to channel our initiatives in the right direction, we feel extremely positive about extending our successes into the future. We look forward to strengthening our partnerships, expanding the services we provide to our clients and continuing to impact the industry on an ongoing basis.
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Posted by
Stephen Bruno
on
8/25/2010 at 6:05 AM
There has been much talk about the changes that the Patient Protection and Affordable Care Act (PPACA) will bring to the way health plans operate. In a previous blog post, we mentioned a few points that could influence decision-making and alter existing processes for health insurance organizations. Of these points, maintaining a medical loss ratio (MLR) of 80% for individual and small-group products seems to have taken a foremost role in restructuring the business processes of health plans.
MLR Measures Depend on Compensation Management
This article in the AIS's Health Business Daily points out how some health plans are already beginning to restructure the way they pay their brokers and agents in an effort to reduce the percentage of premium dollars that go toward commissions.
Conversations with a few of our clients have brought out similar stories on their plans to change commission structures, and how incentive compensation management technology will be an integral factor in allowing them to be responsive and move quickly on these necessary business decisions.
With compensation management technology, carriers can quickly restructure commissions and compensation plans, communicate these changes to their agents and update credentials and appointments, to quickly put new strategies into action.
CRM Is Essential to Compete in a Widening Market
Another PPACA mandate that insurers are bracing for is the large number of potential insureds that will be flooding the marketplace. As the potential customer base grows, competition for market share will be fierce. To succeed, carriers’ customer service must be top notch.
Advanced CRM technology helps carriers establish an enterprise-wide customer service orientation, improving service and sustaining market share. According to Adam Honig, President and CEO of Innoveer Solutions, “Insurers With the Best CRM Will Win”. He cites five main areas that carriers should focus on to improve customer service, including implementing “CRM systems that provide [insurers] with a complete view of a member as well as their requirements.”
In his own words, “Insurers that excel at member service will continue to attract more customers and build their bottom line, enabling them to make their services even better.”
With the right package of compensation management and CRM technologies, insurance carriers will be well-positioned to react with agility to the realities of reform and successfully contend with increased competition.
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Posted by
Stephen Bruno
on
5/12/2010 at 6:30 AM
The 2010 ACORD LOMA Insurance Systems Forum is right round the corner, and we are excited to participate in meaningful dialogue about emerging insurance technology. As an active member at the forum, VUE Software plans to showcase its role in providing extraordinary results to agencies and carriers through cutting-edge solutions.
Carriers and agencies who have implemented VUE Software solutions have experienced gains in agent and broker productivity, performance, and customer service. With VUE Software, agents get the ability to sell multi-carrier, multi-line products and still feel like they are working with a single carrier. Agents can improve their operational efficiency as they can monitor everything from quoting, managing compensation and client bases to performance tracking in a single window.
Backed by service oriented architecture and web services, VUE Software solutions are designed to help insurers confront today’s economic and business challenges. Carriers can continue improving their operational efficiency well into the future as the solutions remain scalable and flexible to accommodate changes and business growth.
A huge advantage for carriers is the ease with which VUE Software solutions can integrate with multiple systems. Case in point is a recent project where VUE Compensation Management was integrated with many diverse systems, including Microsoft Dynamics CRM, at Insphere Insurance Solutionssm, the largest independent career agency distribution group with a sales force of approximately 3,000 agents nationwide.
At the conference, you can hear straight from Jeff Walker, VP of Corporate Strategy of Insphere Insurance Solutionssm about the value of their platform through their presentation titled Customer Relationship Management: The Key to Supporting a Collaborative, Customer-Centric Model. Each attendee of this session held on Tuesday, May 26 at 3:00 PM PT will receive a free flash drive and will be entered to win a prize. I look forward to meeting many insurance professionals at this event.
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Posted by
Abhinav Dave
on
4/29/2010 at 11:30 AM
Though cost cutting and operational efficiency are top priorities for insurers, these companies should embrace strategies for business growth as well. Organizations need to position themselves to expand their product reach and improve business growth through widespread distribution channels. But expansion brings increased expenses and high volumes of transactions that insurers may not have dealt with in the past.
As companies grow in size, they usually experience operational and administrative complexities. These challenges could include adding more agents to a network, the consolidation of multiple compensation systems, regulatory changes or changing territories.
Implementing enterprise-wide compensation management technology is a forward-moving initiative that may smooth out complexities, eliminate unwanted expenses and accommodate increasing workloads.
A scalable compensation management system is a must for growth-oriented insurers. Solutions that utilize service oriented architecture (SOA), web services and other advanced technologies allow large organizations with high volume demands to meet their increasing workload. Deploying these web based and scalable systems helps in easing the operational complexity and keeping pace with expansion.
There is a growing demand for solutions that are robust in functionality, yet remain flexible, adaptable and scalable. One of our recent projects involving Insphere Insurance Solutions is a great example of the power of these types of solutions in action.
It was a complex installation involving the integration of VUE Compensation Management with over ten other technology systems. The successful integration of VUE Compensation Management showcases the solution’s flexibility, adaptability and scalability for diverse insurance business structures. It’s a point of pride that VUE Compensation Management is at the core of Insphere Insurance Solutions’ innovative technology platform.
“It was essential for us to select a solution that would meet our current needs and be flexible enough to adapt to our evolving requirements as well. The VUE Software suite offered solutions that seemed tailor-made to fit our business model.”
- Phillip J. Hildebrand, President and CEO, Insphere Insurance Solutions
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Posted by
Stephanie Castro
on
12/2/2009 at 1:57 PM
With the slowly recovering economy and impending healthcare reform, many insurers are taking a closer look at the way they do business. More insurers are embracing technology as a means to differentiate themselves at a leader in a crowded and competitive marketplace.
Insurers need nimble systems that can help them provide better service, motivate and retain top producers, and provide administrative simplicity. While many insurers still rely on simplistic commissions systems, these goals and more can be met with a sophisticated, insurance-specific Incentive Compensation system.
These systems are flexible enough to accommodate adjustments in the marketplace while delivering crucial capabilities like managing distribution channels, designing commission plans and calculating incentives, commission payouts and bonuses. The primary differentiating factor for insurers with such technology in place is the maximizing of performance of the distribution channel.
The country’s foremost insurers have already begun to adopt Incentive Compensation solutions, and noted analyst firms such as Gartner and Celent have also begun to investigate these solutions and their impact on the insurance industry.
Join Steven Leigh, Gartner Principal Research Analyst and author of a new MarketScope report on Incentive Compensation for Insurance, as he presents the compelling benefits of these solutions in an exclusive webcast, “Maximize Your Distribution Channel with Incentive Compensation for Insurance”.
He will be joined by Joseph Westlake, Vice President of VUE Software to share how insurers, equipped with insurance-specific incentive compensation management, can experience increased bottom line.
The webcast is on Dec 10th, 2009 1:00pm-2:00pm (EST). Click here to register. Hope you’ll join us!
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