Executive Summary

With more than 45 years of expertise, Vertafore provides leading-edge insurance management software solutions to 500,000 customers. That translates into massive, complex stores of customer contracts, documentation and data. To further complicate matters, many Vertafore customers have undergone mergers, acquisitions and name changes over the years. It is also common for customers to have multiple contracts and agreements with different terms and renewal dates.

Pramata enabled Vertafore to consolidate huge stores of contracts across databases, business applications, legacy systems and hard-copy storage facilities into a “single version of truth.” With immediate access to critical contract data, Vertafore can now:

• Better understand and support customer relationships

• Drive more effective renewals

• Assess risk and speed business processes

• Free up legal teams to work on higher-value tasks

Challenges

• Massive, complex stores of customer contracts, documentation and data

• Many customers have undergone mergers, acquisitions and name changes over the years

• Common for customers to have multiple contracts and agreements with different terms and renewal dates

Solution Benefits  

• Contracts centralized, with critical terms and conditions extracted, normalized, and updated daily.

• Sales team has self-service access to valuable data directly from Salesforce with Pramata’s seamless, no-code CRM integration

• Deeper customer insights drive new conversations about renewals, contract terms, the consolidation of multiple agreements and longer-term contracts to help with financial planning

• Risk analyses automatically applied to all contracts and risk scores assigned to enable better risk management and renewal offers