Vertafore Launches AI Agent for Insurance Policy Changes
Vertafore makes its Velocity Change Request Agent available in Surefyre for managing general agents, the company announced in a press release.
The AI agent reads incoming policy change requests, extracts and organizes relevant information, and compares renewal and endorsement applications with existing policy records. It presents changes in plain language for underwriters, who can review and edit the summaries before saving an approved version to the application record.
Vertafore said internal testing showed a 70% reduction in time spent reviewing and documenting changes and a 98% reduction in errors. The product runs on the Velocity AI Platform and joins five other Velocity agents for managing general agents.
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