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
Pricing options
Contact Velocity for pricing information.
Velocity Features
Media
Velocity Reviews
Velocity Reviews
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.
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.
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.
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.
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Great Company
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.
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.
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.
Waste of Time Had to go back
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.
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.
Pros
The flexibility of the product to perform the functions I need.
Cons
The fact that we can't make the screen bigger
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.
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
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Velocity Pricing
Velocity Pricing
Contact Velocity for pricing information.
Contact Velocity for pricing information.
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Velocity Features
Velocity Features
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Categories
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 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
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.