Type Privately Held Company Area served Worldwide Parent organization Ebix Inc | Founder Diane & Steven Wilson Founded 1991 | |
 | ||
Industry Finance and Life annuity Key people Steven Wilson President
Diane Wilson CFO
Suzanne Brazeal VP Products VTXml
Straight Through Processing Headquarters Venice, Florida, United States | ||
VERTEX Incorporated is an American Software development and IT/Business Consulting firm based in New Britain, Connecticut.
VERTEX Inc was co-founded in 1991 by Diane and Steven Wilson. Vertex was one of the first firms to combine their business consulting services along with standalone life annuity software, in addition to straight through processing adaptations for businesses allowing for paper free, automated variable annuity sales; beginning with pre-sale activities and carrying on through to the contract issue.
In 2003, the company released its first software suite, VTXml, and entered into the life annuity software sector. By 2006, the company primarily focused on the straight through processing realm following an industry wide push towards automated annuity transactions, led by NAVA (Now the Insured Retirement Institute).
VTXml
July 7, 2003, VERTEX Inc gains ACORD XML certification for Its VTXml Annuity Product Adapter, which allows simple installs and maintenance of annuity products. Since 2009, the product has been upgraded to the VTXml Product Suite, which compiles and stores ACORD and NAVA compliant XML based transactions, in addition to providing the infrastructure to manage the publication of production quality annuity product data. Vertex Inc won a 2012 RAVE award for Its VTXml product suite from Tech Decisions, a Summit Business Media magazine publication. In addition, ACORD awarded Vertex Inc the "2011 Life and Annuity Most Actively Involved With ACORD" award for their close involvement with ACORD insurance industry standards in developing the VTXml product suite.