(Image source: Vertafore Velocity page.)
Vertafore (Denver) has released two new Vertafore Velocity AI agents designed to reduce manual work in agency operations.
Ashley DeCarteret, Principal Agency Owner, Harbor Brenn Insurance Agencies.
Built into Vertafore’s AgencyOne platform, the Velocity AI Email Agent and Velocity AI Reconciliation Agent are intended to help independent agencies streamline email-driven workflows and direct-bill reconciliation, according to a Vertafore statement. The company says both agents keep agency professionals in control for review, approval and exception handling.
The Velocity AI Email Agent is designed to turn Outlook activity into structured workflows. Initially supporting activity and suspense creation, the agent interprets inbound communications, extracts key information, matches messages to the appropriate client and policy, and recommends a next step within the user’s inbox. Vertafore says early testing and user feedback showed the Email Agent reduced email processing time by up to 80 percent, with up to 98 percent accuracy.
“My team lives in their email all day long, and one of our biggest friction points is getting that information into our AMS,” comments Ashley DeCarteret, Principal Agency Owner, Harbor Brenn Insurance Agencies. “The Email Agent addresses that by quickly and efficiently moving data into the system where it’s supposed to be, making it visible and accessible across our agency instead of locked away in individual inboxes.”
The Velocity AI Reconciliation Agent automates direct-bill reconciliation by ingesting carrier statements in supported formats, matching transactions against client and policy data, and surfacing exceptions for human review. Vertafore says the agent can reduce statement processing from up to an hour to minutes. Early testing and user feedback showed up to 90 percent time savings, with 94 percent accuracy.
“Processing carrier statements is incredibly manual, and it involves a lot of basic data entry,” comments Russ Turrentine, VP, Turrentine Insurance Agency. “The Reconciliation Agent reads the statement, interprets the data, and does the heavy lifting for you. You still want people reviewing commissions and making sure everything is correct, but the system can handle the repetitive work of finding the right policy and putting information where it belongs.”
James Thom, Chief Product Officer, Vertafore.
Automating Top Friction Points for Agencies
The new agents are built on the Vertafore Velocity AI Platform, which the company introduced earlier this year as the foundation for AI capabilities across its core product families, including AgencyOne, MGA solutions and Sircon.
“Two months ago, we introduced the Vertafore Velocity AI Platform, our first AI agents, and our vision for bringing agentic AI into insurance,” comments James Thom, Chief Product Officer, Vertafore. “Today, we continue to deliver on that vision with new AI agents that automate some of the biggest friction points agencies face every day so their teams can focus on the clients, decisions and relationships that drive their business.”