Velos

Velos is an AI automation platform designed to streamline back-office operations for insurance carriers and MGAs. It helps these organizations manage recurring manual tasks and reduce errors, ultimately aiming to keep more premium by cutting operational costs. Velos focuses on automating complex, data-heavy processes that typically involve emails, PDFs, and spreadsheets, which often lead to inefficiencies and increased costs at scale.

The platform offers specific solutions for critical insurance workflows. For instance, it automates submission intake and triage by extracting, enriching, and checking information from unstructured documents like loss runs against underwriting guidelines. Velos also handles First Notice of Loss (FNOL) processing, consolidating intake from various channels and shrinking claim setup times. Additionally, it standardizes bordereaux reporting for MGAs, significantly reducing the manual effort required to meet diverse carrier requirements. Velos emphasizes a managed implementation approach, where they design, develop, and optimize automations for their clients.

Insurance and finance teams benefit most from Velos, particularly those struggling with manual, repetitive tasks that hinder scalability and introduce risks like missed revenue or compliance issues. The tool aims to increase underwriting capacity, accelerate broker turnaround, prevent FNOL leakage, and enable MGAs to scale without proportional headcount growth. Velos also highlights its enterprise-grade security, ensuring data privacy with no AI training on client data and isolated customer instances.