In a recent research initiative, VUE Software found that the overall utilization of online services in wrap up administration has increased. One sponsor of a multibillion-dollar national rolling CCIP saw online submission increase from 30% to 45% after transitioning to VUE Wrap-Up Management in early 2011. Another national administrator has seen 47% of all subcontractor participants in a large rolling CCIP submit their information electronically since launching the VUE Wrap-Up Management system in November 2011.
VUE Software Director Stephanie Castro says, “Subcontractors have become more accepting of online reporting tools and even enjoy the ease of use and consistency as they work with repeat customers. We anticipate that as more administrators employ automation best practices, online submission rates of 50-70% could become the new standard.”
These trends indicate that more subcontractors and risk managers have started trusting the ability of online systems in streamlining their work. Organizations that have invested in easy-to-use, sophisticated solutions that can handle online submittal processes reap many benefits, including greater accuracy, efficiency, and processing speed.
About VUE Software
VUE Software, the product division of Computer Solutions and Software International, Inc. (CSSI), is a leading provider of distribution, incentive compensation and sales performance management suites. Backed by over twenty years of insurance experience, VUE Software solutions are built to meet the unique needs of the life, health, property and casualty, and managing general agent verticals. For more information about VUE Software, please call 1.877.488.3763 or visit www.vuesoftware.com.
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VUE Software and VUE Wrap-Up Management are trademarks or registered trademarks of Computer Solutions & Software International, Inc. All other registered trademarks, trademarks or service marks belong to their respective companies.