The Bothell-based company makes software used in the insurance industry by everyone from large agents, such as Safeco, down to single-office insurance shops.
What: Vertafore, a Bothell-based insurance-software company.
Who: Jeff Hawn, chairman and CEO.
Ensuring your insurance: Vertafore makes software used in the insurance industry by everyone from large carriers, such as Safeco, down to single-office insurance shops.
Keeping track: Agents use Vertafore’s software to keep track of customers, such as renewal dates and current policies. “It’s a 360 degree view of the customer,” Hawn said. “It’s everything the agent needs to better manage and better serve the customer.”
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Quiet giant: Vertafore is one of the bigger employers in the Puget Sound region, though you may never have known because it isn’t as splashy as some tech companies. Vertafore has more than 1,300 employees globally, with about 500 in the region.
The naming: The company took on its name in 2004, years after the company was originally founded in 1969 as Agency Records Control in Texas. Vertafore moved its headquarters to Bothell in 2005.
Bothell bound: The company may be based in Bothell, but Hawn views it as a national company. It has offices across the United States. “I like the idea that we’ve got more people out in the field or out near the customers,” he said.
The owners: TPG Capital bought Vertafore in 2010 for $1.4 billion. The two companies have a positive relationship, and TPG has representatives on the board, Hawn said. “I’m also not naive,” he said. “It’s a good and strong relationship when things are going well. And we are doing well, growing and profitable.”
Making sales: Vertafore recorded $485 million in revenue last year.
Upcoming: Hawn said the company is developing products for new issues facing the insurance industry including gathering personalized data about customers so insurance agents can approach customers with plans that are tailored specifically for them.
— Rachel Lerman