Velocity Standard

Velocity is a comprehensive, reliable, performance-based, state of the art system designed to accomplish workflows for your daily operations.  All components of Velocity are integrated into a single application.  Velocity’s core functionality includes:

  • Policy Management
  • Document Production/Packaging
  • Premium Accounting
  • Budgeting
  • General Ledger
  • Financial Reporting
  • Multi Office Corporate Consolidation
  • A/R & A/P
  • Electronic Filing
  • Document Management
  • Letters and Documents
  • Standard Reports
  • Automated Fees and Taxes
  • Prospect Tracking/Analysis
  • HTML Email & Merged Templates
  • Fax and PDF Converter
  • Spreadsheet Upload/Download
  • Submission Tracking/Analysis
  • Claims Management
  • Insurance Payables
  • Management Reporting
Carrier Bundle

The Carrier Bundle is a package of subsystems that can be added to Velocity to extend its reach to rate, quote and issuance functions. This bundle demonstrates the high degree of automation and flexible processing capabilities provided for the creation of new policies, renewals and mid-term endorsements. Claims Administration has been included in this offering to accommodate those situations where claims need to be paid and administered.


The rating program is an integrated and native system within Velocity as opposed to an external system. Clients are enabled to input predetermined rates or define their own customized rating criteria for policies or endorsements without the need of a programmer. Rating can be input based on exposure-based criteria or cumulative value criteria with automatic calculation of taxes and fees. Retroactive, Out of Sequence and Mid-Term endorsements are easily rated. Premiums can be varied by state and effective years for each line of coverage.


The program allows for creation of multi-quote alternatives based on various coverages, limits and deductibles and payment plans; automatic creation of application and quotes from expiring policies; side-by side comparison of quotes from different carriers and the creation of correspondence and calendar activities throughout the quoting, renewal and mid-term endorsement process. Quoting has been used to create quick quotes on the web, detailed quotes both on the web and by CSRs and provides standard and custom product proposals that include multiple coverage combinations and premium options.

Policy Issuance

The carrier bundle will complete the process of closing the policy cycle. Declaration pages and applicable endorsements can be packaged with a table of contents and listing of form attachments. As with most features within Velocity, you can create and maintain your own forms library and rules for attaching endorsements. Policy issuance documents which are pre-determined can be automatically pulled and packaged. Invoices are automatically issued for new business, renewals and mid-term endorsements based on quotes accepted.

Mass Solicitation and Renewal

This tool allows the client to target prospects/clients in various ways to take advantage of the Rate, Quote and Issuance features. Definable criteria can be used to focus upon a segment of the market (e.g. all polices with a certain renewal date or period) to be the subject of a campaign. Mass renewals can be automatically handled by creation of pre-defined proposals, letters, emails, diary items in a time-sensitive manner. This process can include an opt-out strategy wherein policies and invoices are generated and can be automatically emailed. A Proof of Mailing feature is included as needed.

Claims Administration

The core Velocity product is used to track claims. With this add-on subsystem, claim payments can be administered with loss ratio reporting.

Scripting & APIs


This tool provides you with automatic macro capability to enable the execution of client-defined (internal and external) processing tasks. You may internally create and maintain your own processing and functionality with:

  • Automatic workflow invocations, defaults with validation
  • Automated rules-based underwriting
  • Application validations, qualifications, limitations or references
  • Database connectivity to outside websites

You can define workflows that can be automatically or manually invoked to perform virtually any task. Examples of automatic workflows enabled by this engine are: start an order, re-rate the policy, print an invoice, email confirmations, create follow up diaries etc.
With the Scripting Engine, not only can you rate your risks, but also institute your own pre-defined underwriting rules, pre-fill a complete set of limits, automatically implement threshold qualification guidelines (based on your rules or state, rate and policy filings).

For applications received on the internet, triggered macros can contemporaneously validate entries, disqualify applicants from coverage or disclose coverage limitations or provide transfer references to other programs or insurers. This automatic process minimizes errors and omissions and provides for the consistent application of your underwriting criteria.

The Scripting Engine allows the system to automatically talk to other computers on the internet and exchange, import and validate data (e.g. Department of Motor Vehicles licensing information).

The Scripting Engine can be used with Velocity’s extensive set of API’s to easily create workflow invocations and automatically accomplish tasks. This functionality requires Velocity Application Program Interfaces (API’s).


These are the numerous application program interfaces created by VRC which allow you to input and retrieve information from the Velocity database from outside of the Velocity application.  VRC has developed approximately 80 APIs which perform a wide variety of functions and workflows that previously required the manual time and attention of administrative staff. Examples of these automated functions are:

  • Create Application
  • Create Certificate Holder
  • Cancel Policy
  • Create Auto ID Cards
  • Create Policy and Coverage
  • Create Quote with Policy
  • Create Invoice
  • Create Diary Item and Notes
  • Modify Application, Quote, Policy, & Coverage
  • Rate Policy, Change Order, Quote
  • Application, Quote
  • Create Reserves
  • Generate Certificates and Documents
  • Create Claim
  • Auto-Fill Certificates
  • Delete Application, Exposure, etc.
  • Delete Documents, Applications
  • Exposure and Premium Tax
  • Attaching Exposures to Policy
  • Attaching Documents
  • Create Installment Payments
  • Adding Carries to Application
Document Clearing & Management

This software enables you to account for and process in-bound documents (faxes, emails and attachments) and store them in the Velocity system. Upon receipt of documents, you can assign a context to the document (e.g. customer number, application or policy number etc.) relying on our Drag & Drop technology, or, if the proper context is included in an email, the assignment is performed automatically. Definable rules (using the Scripting Engine) can automatically create a number of functions such as a queue event (e.g. diary item or an email). Documents can be placed into different queues by making a queue choice from the source (e.g. fax, phone number, email address etc.). The document can be status-tracked and saved for audit purposes.

There are many other features included, such as:

  • The system recognizes and saves the source document yet allows for editing of the source document to create a destination or cleared document. The cleared document will have a link on it to allow reference back and viewing of the source document;
  • The system allows for easy selection of documents for storage and/or rejection of documents (as well as rejection of selected pages in a document) which are unessential such as cover sheets or pages that have already been copied in other documents;
  • The system allows user/processors to designate to the queue their availability to process documents at any time. Document clearing is performed by page;
  • Documents can be converted into PDF format, merged into other documents, deleted, rotated, straightened, stored, broken down into multiple documents, purged, but the source document will keep its original orientation;
  • The document clearing user will be allowed to perform any standard function while clearing documents into Velocity e.g. create a policy, application, claim, save a record etc.
Advanced Portal & Webflows

The Portal provides for information sharing with consumers, agents, brokers, and carriers through a secure access point. Unlike other portals, VRC’s is driven by the Velocity database and requires no synchronization meaning all users, internal or external, are working with the same up-to-date information. There are several aspects of sharing that can be leveraged to provide efficiencies to your market place, while benefiting from significant cost reduction. The Portal fits seamlessly into your existing web presence. Features for the portal include:

  • Rate, Quote, Issuance Workflows
  • Document Sharing
  • Customizable Text on Your Web Pages
  • Library of Standard Forms
  • Access to Secured Information
  • Customizable Inquiry Capability
  • Dashboard Interface


VRC’s Webflows allow the creation of webpages without the time-consuming and expensive hard coding that is normally required. The normal webpage-creation process has been simplified by 1) the creation of generic webflow tables that automatically generate web presentations (for 80-90% of probable web presentation and functionality) and 2) the use of parameter forms and fields to customize the data entry into the web pages.

Webflows are designed to your workflow specifications and allow you to bring your Rate, Quote and Issuance business processes to the internet. Instead of fielding phone calls, faxes and mail, you can extend the application process to the web. Your same underwriting rules can be instituted to automatically qualify applicants and prepare multiple options of coverages.

Webflows take advantage of the very same validations, underwriting rules and defined products used by your Velocity users so you do not need to maintain or coordinate separate databases to bring your business to the web.

Webflows also allow you to incorporate credit card processing, automated emails and diary notifications to internal users within your predesigned workflow.

Document Sharing

The sharing of documents can be automated. Standard types of documents can be pushed to defined users automatically. For instance, you can decide to always publish statements to the accounting department of your agents. You might also decide to always publish issued policies. When doing so, you can send an email that contains a secure link to the document. Outside entities can also upload documents to you. A spreadsheet that details the monthly reporting of risks can be sent attached directly to the portal and notification via diary items is generated.  These are just a few examples of the document types available through the portal.

Customizable Text on Your Web Pages

You can tailor the wording on pages presented within the portal for your unique requirements. You can announce new programs, explain coverage options, and provide FAQ’s to your community. This ability allows you to maintain consistency within your existing web sites. Once on the portal, users will find it hard to notice that they are not actually on your web site.

Library of Standard Forms

This library is effective in providing standard communications. Virtually any document you would like to share can be placed in this area. Standard policy information and explanations of coverage, as well as, samples of declaration sheets and endorsements can be placed in the library. Phone lists, emergency contacts, and other coverage related documents can be made available through this tab.

Online Certificates

This product provides an online access point for certificates of insurance. Agents, brokers and insureds can input, print, send and manage certificate information via web services. Velocity will house the information which will be accessed from a secure self-service login facility.

Online Certificates operates within the Velocity Portal allowing agents and/or insureds to search for certificate holders, create certificate holders, modify certificate holders, and to create the certificate document(s).

The activity of the requestor is logged within Velocity and all certificate templates must be created within Velocity by authorized personnel for enhanced security.

This self-service module allows your users to access certificates at any time.  By empowering your community with this access and capability you can achieve greater client retention, new customers, and give your experts more time to focus on business critical job functions.

AL3 Downloads

ACORD Level 3 (AL3) downloads allow agents and brokers to input information directly on the carrier’s system and receive this information back on a nightly basis. The supported transactions include applications, new policies, renewal policies, endorsements and cancellations.

Personal lines downloads include home, auto, dwelling fire, boat, package and direct bill accounting downloads. Commercial lines downloads include auto, inland marine, workers’ compensation, general liability, package, BOPs, and umbrella.

Velocity supports any AL3 standard forms as well as additional non-standard fields used by carriers.  New carriers and lines of business can easily be established to meet our customer’s unique requirements.  VRC currently has more than 50 carriers with non-standard fields within Velocity.

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