Vertafore Launches Velocity Change Request Agent to Automate MGA Policy Processing
Vertafore has announced the release of its Velocity Change Request Agent, an AI-driven tool designed to automate the management of policy changes for Managing General Agents (MGAs). Integrated into the Surefyre platform, the agent uses agentic AI to extract information from applications and compare them against existing policies, presenting findings in plain language to assist underwriters. The technology aims to increase underwriting capacity by reducing manual comparison tasks. Internal testing indicates significant efficiency gains, including a 70% reduction in time spent reviewing changes and a 98% decrease in errors. This launch is part of Vertafore's broader 'Digital Underwriter' vision to embed AI throughout the entire insurance underwriting lifecycle.
Topics: Artificial Intelligence Insurance Technology MGA Automation Underwriting Efficiency