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Velocity

Insurance agency management system

Velocity - 2024 Pricing, Features, Reviews, & Alternatives

Table of Contents

What is Velocity?

Velocity - from VRC Insurance Systems - is a comprehensive insurance solution designed to help insurance agencies configure and control workflows for their daily operations. The solution provides an all-in-one insurance solution for the property & casualty market and has been designed to meet the business needs of MGAs (Managing General Agents), MGUs (Managing General Underwriters), program administrators, wholesalers, small carriers, reinsurers and speciality retailers.

An end-to-end agency management system, Velocity provides an extensive set of features integrated into one application. These include a built-in rating engine, policy issuance, direct portal interface with Velocity application (only 1 database), endorsements, renewals, and claims.

Velocity's core functionality includes: policy management & administration; claims management; custom applications; built-in rating; portal interface; accounting; CRM; and client self service. Velocity is an ideal solution for companies that offer non-admitted products requiring custom applications, issuance on-demand, built-in rating, and customizable reporting. Customers include Hub International Northeast, Clear Risk Solutions, Orchid Underwriters and Brit Global Speciality.

Benefits of using Velocity

Velocity's built-in rating enables the internalization of underwriting rules. Rating information can be exposed to anyone on the web.

The software's 'online certificates' feature provides an access point for insurance agents, brokers and clients to input, print, and manage insurance certificates.

Workflows can be automated and duplicate data entry eliminated with Velocity's various functionalities, scripting capabilities, and architectural design.

Velocity is a soft-coded, parameter driven solution that allows insurance agencies to configure and control their own workflows.

VRC's SaaS solution enables companies to eliminate the cost of servers and maintenance

Starting from

10000

One-time payment

Alternatives with better value for money

Velocity's features

Activity Dashboard

(0)

Billing & Invoicing

(0)

Broker/Agent Portal

(0)

Cancellation Tracking

(0)

Carrier Upload

(0)

Claims Management

(0)

Claims Tracking

(0)

Client Portal

(0)

Commercial Lines

(0)

Commission Management

(0)

Contact Database

(0)

Contact Management

(0)

Customer Portal

(0)

Document Management

(0)

For Casualty Insurance

(0)

For Medical Malpractice

(0)

For Personal Insurance

(0)

For Professional Liability

(0)

Insurance Policy Management

(0)

Insurance Policy Processing

(0)

Insurance Rating

(0)

MGA Administration

(0)

Multi-State

(0)

Multiple Line Rating

(0)

Policy Issuance

(0)

Policy Management

(0)

Property & Casualty

(0)

Quotes/Estimates

(0)

Rating Engine

(0)

Reinstatement Tracking

(0)

Reminders

(0)

Renewal Management

(0)

Sales Reports

(0)

Self Service Portal

(0)

Underwriting Management

(0)

Velocity alternatives

Velocity

4.1

(15)

Starting from

10000

One-time payment

Free trial

Free version

Ease of Use

3.5

Features

4.1

Value for Money

4.1

Customer Support

4.4

Macaw

3.5

(20)

visit website

Starting from

No pricing info

Free trial

Free version

Ease of Use

3.1

Features

3.0

Value for Money

3.4

Customer Support

3.4

Surefyre

4.7

(17)

visit website

Starting from

2000

Per month

Free trial

Free version

Ease of Use

4.6

Features

4.6

Value for Money

4.8

Customer Support

4.7

Financial Services Cloud

4.7

(3)

visit website

Starting from

300

Per month

Free trial

Free version

Ease of Use

4.0

Features

4.0

Value for Money

4.3

Customer Support

4.7

Velocity pricing

Pricing options

Free plan

Subscription

Free trial

Pricing range

Value for money

4.1

Starting from

10000

One-time payment

Velocity support options

Typical customers

Freelancers

Small businesses

Mid size businesses

Large enterprises

Platforms supported

Web

Android

iPhone/iPad

Support options

FAQs/Forum

Training options

Live Online

In Person

Documentation

Videos

Velocity reviews

Overall rating

4.1

Positive reviews

Rating breakdown

Value for money
Ease of use
Features
Customer support
Likelihood to recommend7.5/10

Rating distribution

Pros

The service we received from Velocity was top notch and I would say that's the best part of their company.

William F.

Sales Manager

I like the multi-functionality of Velocity and ability to pull various information around from various screens.

Ryan W.

Underwriting Operations Supervisor

This is my second time attending the conference and have gained a lot of knowledge. One of my favorite parts was knowing a little more about the VRC team.

Blanca G.

Policy Services Supervisor

Cons

The big downside to the software to me is the GUI. But with the addition of all of the portals we can make/use, and the future with the new dashboard, this can be a non issue.

Matt T.

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