VUE Software: Leading the Distribution Modernization Movement for Insurers

Stephen Bruno, President & CEO “Cut out the middleman!” is a slogan gripping the common man today buoyed by technological advancements that are facilitating self-service in many industries such as retail, banking, and finance. But in the insurance industry, brokers/agents––the middlemen––are here to stay. Yes, data and analytics are being leveraged to determine risk, structure insurance programs, and identify the best carriers for different amounts of risks, with high speed and accuracy. But brokers are still in demand primarily due to their skills and experience in guiding customers interested in buying insurance policies, a role central to the insurance industry. As specialists in insurance and risk management, brokers act on behalf of the customers and inform them about the best insurance plans and the associated risks, driving the process of insurance distribution. Brokers truly serve as the most important business partners of carriers/insurance providers. Carriers that implement the technology which helps brokers do more quality business, drive revenue growth for both the involved parties. It is a Win-Win! Undoubtedly, in the digitized insurance landscape, a transition from legacy brokering to technology-based future-oriented brokering is a must.

VUE Software, founded by the Computer Solutions and Software International (CSSI), offers a single scalable platform that upgrades the work of insurance brokers and carriers. With more than 26 years of experience in life insurance, health insurance, and property & casualty, VUE offers flexible and configurable solutions to increase revenue, reduce costs, and improve the efficiency of brokers. VUE Software is an application suite to manage all distribution management requirements: agent recruitment and onboarding, agent life-cycle management, compensation, agent self-service portal, and comprehensive distribution analytics. So be it a carrier or a distributor, VUE Software has their entire distribution channel covered.

"An important benefit of the availability of information and greater connectivity is the potential to eliminate some of the costs from the business process of insurance"

The company's innovative team of software developers is led by Stephen Bruno, the President and CEO of VUE Software. As a technology innovator with over 30 years of experience in information systems for the insurance industry, Stephen wields expertise in a myriad of fields comprising systems design, development and integration, intelligent systems, data warehousing, and more. Driven by his expert leadership with 400 plus team members solely focused on distribution technology, the VUE is leading the Distribution Modernization movement and provides insurance organizations a robust pathway to revenue growth and competitive advantage, supporting multiple product types, distribution channels, and hierarchy types.

With more than 26 years of experience in life insurance, health insurance, and property & casualty, VUE offers flexible and configurable solutions to increase revenue, reduce costs, and improve the efficiency of brokers

VUE Software was developed from the ground up for Insurers, MGAs, FMOs, IMOs, and Insurance Distributors seeking greater automation for producer administration and sales processes. VUE offers solutions that meet the unique needs of insurance distribution, especially the needs of the life and annuity, health, and property and casualty insurance markets. Among the various solutions that VUE provides are VUE Onboarding & Compliance, VUE Distribution Compensation, VUE CRM for Insurance, VUE Distribution Management Suite, VUE Health & Benefits Billing, VUE Distributor Accelerator Suite, VUE Contracting & Compliance, VUE Compensation, and more. These solutions allow the traditional brokers to become brokers of the future focusing more on strategic risk advice, delivering the transparency and control that today’s customers need. And, beyond the two-core systems essential for all insurance companies to operate— policy administration and claims— insurance experts have indicated the need for a flexible, scalable, and configurable software to meet the business requirements of distribution. The VUE Distributor Accelerator Suite is a platform designed with these capabilities to meet all of a carrier’s business requirements with a user-friendly self-service portal including performance analytics.

The application of the latest technology to analyze consumer details and current market trends is imperative to offer broker management solutions to provide high-quality service to consumers. VUE deploys automation, machine learning/ AI, and analytics that empower carriers and brokers to predict customer needs better, customize every aspect of the customer interaction, manage risks, and attain higher operational efficiency. To ensure customer satisfaction VUE engages their customer-partners in the design process and builds exactly what they want. The company also allows customers to manage strategic incentive plans, automate producer administration and organize contractor and complex data policies, resulting in enhanced administration and sales.

VUE offers flexible delivery models, including Software as a Service (SaaS), on-premise licensing, and full-service business process outsourcing (BPO), tailoring each option to meet any organizational size with full mobile device access and no third-party software. With all the transactions automated and under workflow control, dashboards with critical KPIs provide minute-by-minute real-time indicators.
Detailed reports provide work statistics like cycle time, workload, and production numbers that can be utilized to make decisions about staffing, workflow interventions, work reassignment, support reviews, and training.

As per Stephen, “Our clients are some of the largest insurance companies in the country. United Healthcare is one of our clients. But in addition to them, we have Assurant Health, Coventry Healthcare, Cypress Insurance, Ace Insurance, and Reliance Standard.” In one instance, VUE proved highly beneficial to a Midwest-based National Health Carrier. The client had six disparate systems and had their agent records stored in three systems. This prevented customer service representatives from accessing agent information in one location resulting in callbacks and annoyance. Even managing administrative and customer service was difficult due to producer information being stored in different locations. The format resulted in duplication and inefficient payment calculations; multiple disparate interfaces resulted in compliance issues due to delays and incohesion, and their compensation management system was also error-prone and inefficient. The client manually onboarded clients, consuming a significant amount of time, and relied on a third-party to authenticate data which resulted in further delays. The client also offered very limited accessibility––only to policy and quote information. VUE implemented the Distribution Management Suite, which consolidated the client's six systems into one system. VUE also automated their processes and integrated their existing systems with some of their internal and external interfaces, such as NIPR and background-check agencies. As a result, the client experienced 95 percent data-conversion accuracy, a 50 percent reduction in the number of distinct agent licensing & commission (AL&C) interfaces (from 167 to 85), and new interfaces to leverage a new Integration Broker and shared services.

VUE is pushing the envelope with its flexibility and use of modern technology in the insurance industry which sets it apart from its competitors. As a privately-owned company, VUE focuses on R&D, customer service and satisfaction instead of investors and stock price. The company forms strategic partnerships to ensure maximum benefit to each of their clients from their investment in VUE’s solutions. Beyond partnerships in technology, industry, and strategic consulting & system implementation services, VUE's insurance-specific partners include AlphaTrust, iSIGN, GIS, AHIP, A.D. Banker & Company, DocuSign, BIG, and CLEARCERT.

From its established locations in the U.S. and India, VUE plans to expand its work to Canada and is already recruiting workforce from there. Driven by its customers' business process models, VUE intends to continue gaining knowledge of what is new in the P&C insurance and technology industries. Besides, VUE strives to educate the insurance industry about the technology that is transforming the industry. With its insurance specific, versatile, customer-driven, multiple deliveries, and flexible architecture and implementation, the company is bringing insurance broker management to the forefront of the insurance industry as a domain worth investing in. VUE is indeed functioning as a new age force in the modern insurance industry to be reckoned with.

VUE Software

Coconut Creek, FL

Stephen Bruno, President & CEO

VUE Software offers configurable solutions to meet the unique needs of the life and annuity, health, and property & casualty markets