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Vertafore launches Digital Underwriter vision for MGA workflows
Vertafore’s Velocity AI agents are designed to take on manual underwriting work across intake, quoting, binding and servicing to help MGAs move submissions faster.
Vertafore, an insurance distribution technology provider, unveiled its vision for a “Digital Underwriter” for managing general agents, alongside new Velocity AI agents aimed at reducing friction across underwriting workflows. The goal is to shift underwriters away from preparation and manual information gathering and toward risk evaluation and decisions as MGA operational demands grow.
The Digital Underwriter concept is built around AI embedded in Vertafore’s MGA solutions, intended to handle more of the manual tasks throughout the underwriting lifecycle, from intake and risk evaluation through quoting, binding and servicing. Vertafore said the approach is meant to increase underwriting capacity, reduce cycle times and improve bind rates, supporting faster movement from submission to underwriting in competitive markets.
Vertafore also described a Velocity Change Request Agent that identifies and summarizes changes across renewal and endorsement applications, aiming to reduce the time underwriters spend searching for what changed. The underwriter reviews and approves the summary before it is saved to the application record, according to the company.
Emily McGinn, general manager of MGA and Wholesale at Vertafore, said the opportunity for AI in underwriting is broader than automating single tasks, with the strategy focused on creating capacity across the entire workflow by accelerating repetitive work and surfacing what needs attention.