Cypress Insurance Group Goes Live With VUE Producer Compensation, VUE Producer Management & Compliance, VUE Producer Onboarding and VUE Analytics
Distribution Management Solutions From VUE Software Transform and Streamline Insurer’s Business Operations and Improve the Agent Experience
Coconut Creek, Florida, 02/19/2014 — VUE Software®, the leading provider of distribution and producer management solutions for the insurance industry, today announced that Cypress Insurance Group has gone live with VUE Producer Compensation, VUE Producer Management & Compliance, VUE Producer Onboarding™ and VUE Analytics. These distribution management solutions multiply efficiencies for Cypress and streamline the organization’s technology enterprise-wide.
An organization with approximately 150 million in annualized premium for personal and commercial property and casualty (P&C) insurance, Cypress sought a commission management system to integrate with its newly implemented policy management and billing technology. The insurer was impressed not only with VUE Software’s comprehensive incentive compensation management solution, but also with the organization’s flexible, advanced solutions for agent management and compliance, agent onboarding, portal access and analytics.
“We were a fully outsourced operation. One of our biggest challenges was to be able to insource our technology instead,” said Dan Colarusso, SVP of Insurance Operations and CIO at Cypress. “We had an opportunity to lower our costs by using state-of-the-art technology to reduce the number of people servicing our business functions. VUE Software allowed us to do that by integrating with our policy administration system and general ledger system while providing a front end for our agents. VUE Software is a technology partner that is truly a partner, a member of our team we can count on.”
In addition to enterprise-wide integration for its distribution modernization efforts, Cypress is reaping the benefits of dramatic time-savings, error reduction, sharply reduced manual involvement and efficiency improvements. For example, VUE Analytics (formerly VUE Horizon Analytics) enables Cypress business users to access, analyze and present information directly from technology system data. They quickly generate ad-hoc reports without information technology (IT) team involvement, accelerating and improving decision-making at all levels.
“VUE Software is pleased to bring end-to-end distribution and producer management to Cypress,” said Abhinav Dave, EVP of VUE Software. “Because our comprehensive solutions deliver results as individual components or as a suite, we’re able to understand and meet insurance organizations’ needs across the board — from rapid producer onboarding to up-to-date compliance measures, accurate commission payments and results analysis.”
VUE Producer Compensation, VUE Producer Management & Compliance and VUE Producer Onboarding are three components of VUE Distribution Management Suite. Cypress began implementing the fourth component, VUE Producer Self-Service Portal, and plans to fully leverage it later in 2014.
About Cypress Insurance Group
Cypress Insurance Group has provided policyholders and agents with long-term, stable products and services to meet the needs of homeowners, business owners and renters for more than 10 years. The company has a strong track record of responsive claims management and the experience, innovation and financial strength of a reliable industry leader. Headquartered in Jacksonville, Fla., Cypress Insurance Group consists of Florida-based Cypress Property and Casualty and Texas-based Cypress Texas Lloyds. For additional information, visit www.cypressig.com.
VUE Software is a leading provider of insurance distribution management, incentive compensation, and sales performance software solutions. Backed by over 23 years of insurance experience, VUE Software solutions are built for the insurance industry to meet the unique needs of the life, health, property and casualty, distribution and non-carrier verticals. VUE Software is a doing-business-as (DBA) name of Computer Solutions and Software International, LLC (CSSI). For more information about VUE Software, please call 1.877.488.3763