Velocity

Insurance agency management system

4,1 /5 (15 reviews) Write a Review!

Velocity Overview

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.

Velocity Overview

Pricing

Starting from
N/A

Pricing options

Free Trial
Subscription
Value for money

Contact Velocity for pricing information.


Velocity Features

Devices
Business size
S M L
Markets
United States, Canada
Supported Languages
English

Media

Velocity video

Velocity Reviews

Velocity Reviews

Overall rating
4,1
/
5
Excellent
5

Very good
9

Average
0

Poor
0

Terrible
1

Value for Money
4,1
Features
4,1
Ease of Use
3,5
Customer Support
4,4
93% recommended this app
Verified Reviewer

Great Company

I look at velocity for business quotes. I always have them quote it and I love I get to work with a company that’s open to different types of business insurance.


Dawn M.

Functionality

I've been with my company now for close to 3 years so I'm fairly new to Velocity but my experience thus far has been excellent. The pros to the system would include Velocity's ability to maintain a database as well as the accounting functionality which I'm happy with because my previous employer had two different systems for these two functions. I've also been impressed with VRC's timely response and attention when I have questions. I rated the ease of use with 3 stars because I would like to see more hyperlinks from one screen to another allowing for easier workflow.

Overall my experience with VRC and Velocity has been excellent but as with most technology there are some learning curves to the process.


Thomas B.

Waste of Time Had to go back


Amy B.

Would Highly Recommend

We purchased VRC to be our Agency Management Solution in 2006 and it has grown and scaled with our changing needs! VRC has continually released upgrades and updates constantly improving the product per our users needs. Since using VRC we have not had to turn down a request from our owners to perform any task within our Agency. I would highly recommend this product to any one needing a flexible platform.


Janice M.

First time user

My company doesn't do a lot of the accounting processes. As I learn new ways to efficiently processes within they system, I share them with my staff in an effort to make our department more proficient within the system. Each year I learn more ways to utilize the program.


Verified Reviewer
Industry: Insurance
Company size: Self Employed

Great Company

Used Monthly for 6-12 months
Reviewed on 2019/01/24
Review Source: Capterra

I look at velocity for business quotes. I always have them quote it and I love I get to work with a company that’s open to different types of business insurance.

Pros

The quickness! When you are looking for a great business quote I always look first at velocity.

Cons

Well, maybe if we could get a business quote approved sooner but I get it’s a process.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Dawn M.
Industry: Insurance
Company size: 11-50 Employees

Functionality

Used Daily for 2+ years
Reviewed on 2016/10/13
Review Source: Capterra

I've been with my company now for close to 3 years so I'm fairly new to Velocity but my experience thus far has been excellent. The pros to the system would include Velocity's ability to maintain a database as well as the accounting functionality which I'm happy with because my previous employer had two different systems for these two functions. I've also been impressed with VRC's timely response and attention when I have questions. I rated the ease of use with 3 stars because I would like to see more hyperlinks from one screen to another allowing for easier workflow.

Overall my experience with VRC and Velocity has been excellent but as with most technology there are some learning curves to the process.

Pros

Its ability to grow as our company grows and its ability to maintain our database and our accounting information in one place.

Cons

The flow from one screen to another.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Thomas B.
Industry: Computer Software
Company size: 11-50 Employees

Waste of Time Had to go back

Used Other for Free Trial
Reviewed on 2018/08/03
Review Source: Capterra

Pros

The price was good but ultimately this all wound up costing me extra money and a lot of lost time.

Cons

Bad company. I had a couple of properties that i switched over and they were both canceled and i had to go back to the original company. Ultimately it was a huge waste of time.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 0.0/10

Amy B.
Industry: Insurance
Company size: 201-500 Employees

Would Highly Recommend

Used Daily for 2+ years
Reviewed on 2016/10/12
Review Source: Capterra

We purchased VRC to be our Agency Management Solution in 2006 and it has grown and scaled with our changing needs! VRC has continually released upgrades and updates constantly improving the product per our users needs. Since using VRC we have not had to turn down a request from our owners to perform any task within our Agency. I would highly recommend this product to any one needing a flexible platform.

Pros

The flexibility of the product to perform the functions I need.

Cons

The fact that we can't make the screen bigger

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10

Janice M.
Industry: Insurance
Company size: 51-200 Employees

First time user

Used Daily for 2+ years
Reviewed on 2016/10/13
Review Source: Capterra

My company doesn't do a lot of the accounting processes. As I learn new ways to efficiently processes within they system, I share them with my staff in an effort to make our department more proficient within the system. Each year I learn more ways to utilize the program.

Pros

The ability to modify screens to work for department purposes.

Cons

That the system processes without being in balance such as cash, general ledger, etc

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10

User recommendation
7,5/10
Based on 15 user ratings
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Velocity Pricing

Velocity Pricing

Starting from
N/A
Free Trial
Subscription
Value for money

Contact Velocity for pricing information.

Contact Velocity for pricing information.

Value for Money
4,1/5
Based on 15 user ratings
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Velocity Features

Velocity Features

API
Accounting Integration
Activity Dashboard
Activity Tracking
Automatic Notifications
Billing & Invoicing
Calendar Management
Customer Database
Customizable Reporting
Data Import/Export
Document Management
Document Storage
Electronic Payments
Inventory Management
Inventory Tracking
Invoice Management
Reminders
Reporting & Statistics
Search Functionality
Third Party Integration
Features
4,1/5
Based on 15 user ratings
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Categories

Additional information for Velocity

Additional information for Velocity

Key features of Velocity

  • ACORD forms
  • AL3 downloads
  • Broker / agent portal
  • Budgeting & forecasting
  • Business specific tools
  • Cancellation tracking
  • Captive brokerage
  • Captive sales force
  • Carrier specific applications
  • Carrier upload
  • Casualty insurance
  • Claims management
  • Claims tracking
  • Commercial lines
  • Comparative insurance rating
  • Contact database
  • Contact management
  • Customer portal
  • Customer service integration
  • Dashboard interface
  • Document management
  • Drag & drop attachments & emails
  • Email templates
  • Estimates
  • Financial reporting
  • General ledger
  • Insurance rating
  • Knowledge management
  • Lloyds Bordereau reporting
  • MGA administration
  • Mass solicitations & renewals
  • Multi-Line industries
  • Multiple line rating
  • Multiple product tracks
  • Online application acceptance
  • Online certificates
  • Policy generation
  • Policy issuance
  • Policy management
  • Policy processing
  • Project workflow
  • Prospecting
  • Quotes
  • Rating engine
  • Reinstatement tracking
  • Reminders
  • Renewal management
  • Sales reporting
  • Self service portal
  • Single data entry
  • Underwriting management
  • Wholesale program

Benefits

  • 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

  • Velocity FAQs

    Velocity FAQs

    Below are some frequently asked questions for Velocity.

    Q. What type of pricing plans does Velocity offer?

    Velocity offers the following pricing plans:

    Pricing model: Subscription

    Free Trial: Not Available

    Contact Velocity for pricing information.

    Q. What are the main features of Velocity?

    Velocity offers the following features:

    • ACORD forms
    • AL3 downloads
    • Broker / agent portal
    • Budgeting & forecasting
    • Business specific tools
    • Cancellation tracking
    • Captive brokerage
    • Captive sales force
    • Carrier specific applications
    • Carrier upload
    • Casualty insurance
    • Claims management
    • Claims tracking
    • Commercial lines
    • Comparative insurance rating
    • Contact database
    • Contact management
    • Customer portal
    • Customer service integration
    • Dashboard interface
    • Document management
    • Drag & drop attachments & emails
    • Email templates
    • Estimates
    • Financial reporting
    • General ledger
    • Insurance rating
    • Knowledge management
    • Lloyds Bordereau reporting
    • MGA administration
    • Mass solicitations & renewals
    • Multi-Line industries
    • Multiple line rating
    • Multiple product tracks
    • Online application acceptance
    • Online certificates
    • Policy generation
    • Policy issuance
    • Policy management
    • Policy processing
    • Project workflow
    • Prospecting
    • Quotes
    • Rating engine
    • Reinstatement tracking
    • Reminders
    • Renewal management
    • Sales reporting
    • Self service portal
    • Single data entry
    • Underwriting management
    • Wholesale program

    Q. Who are the typical users of Velocity?

    Velocity has the following typical customers:

    Large Enterprises, Mid Size Business

    Q. What languages does Velocity support?

    Velocity supports the following languages:

    English

    Q. What type of pricing plans does Velocity offer?

    Velocity has the following pricing plans:

    Subscription

    Q. Does Velocity support mobile devices?

    We do not have any information about what devices Velocity supports

    Q. What other apps does Velocity integrate with?

    Velocity integrates with the following applications:

    Nobly, Workato, eLuminate

    Q. What level of support does Velocity offer?

    Velocity offers the following support options:

    FAQs, Video Tutorials