Velocity

4 / 5 8 reviews

Who Uses This Software?

P&C MGAs, MGUs, Program Administrators, Wholesalers, Specialty Retailers, Small Carriers


Average Ratings

8 Reviews
  • 4 / 5
    Overall
  • 3.5 / 5
    Ease of Use
  • 5 / 5
    Customer Service

Product Details

  • Free Demo
  • Deployment
    Cloud, SaaS, Web
    Installed - Windows
  • Training
    Documentation
    Live Online
    In Person
  • Support
    24/7 (Live Rep)

Vendor Details

  • VRC Insurance Systems
  • www.vrcis.com
  • Founded 1986
  • United States

About Velocity

Velocity offers an all-in-one insurance solution specializing in the Property & Casualty market that handles the business needs of MGAs, Program Administrators, Wholesalers, Carriers, Reinsurers and Retailers. Key features include: policy administration, claims, custom applications, built-in rating, portal interface, full accounting suite, CRM, client self service and much more.


Velocity Features

  • Claims Management
  • Commission Management
  • Contact Management
  • Document Management
  • Insurance Rating
  • Policy Management
  • Quote Management
  • Cancellation Tracking
  • Claims Tracking
  • Policy Generation
  • Policy Issuance
  • Policy Processing
  • Quotes / Estimates
  • Rating Engine
  • Reinstatement Tracking
  • Reinsurance Administration
  • Renewal Management
  • Underwriting Management
  • Broker / Agent Portal
  • Carrier Upload
  • Commercial Lines
  • Comparative Insurance Rating
  • Customer Portal
  • For Casualty Insurance
  • For Health / Medical Insurance
  • For Life Insurance
  • For Personal Insurance
  • Multi-State
  • Multiple Line Rating

Velocity Reviews

Velocity review

Oct 17, 2016
4/5
Overall
3 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money

Comments: The big downside to the software to me is the GUI. But with the addition of all of the portals we can make/use, and the future with the new dashboard, this can be a non issue. The back end of Velocity, especially with all the rating results, are spot on every time.

First time user

Oct 13, 2016
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
3 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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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

Overall: 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.

Recommendations to other buyers: Learn all the possible ways to utilize the program.

First Time User

Oct 13, 2016
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
4 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 7.0/10 Not
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Pros: The scripting feature which allows you to customize your process more.

Cons: At this time, we cannot make the Velocity screen bigger.

Overall: My overall experience was good. This is my second time attending the conference and have gained a lot of knowledge. One of my favorite parts was knowing a little more about the VRC team!

Velocity - Quick Customizable Insurance Solutions

Oct 13, 2016
4/5
Overall
3 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Extremely
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Pros: Customization tools like scripting. Vast API's

Cons: User interface is outdated

Overall: Velocity scripting has allowed our company to streamline and automate our workflows. Processes that would previously take someone a few hours of time everyday can now be completed with the click of a button. Velocity API's have taken our website from a static, information only experience, to a fully interactive portal. Customers can now interact in real-time to service and bind business.

First Impression

Oct 13, 2016
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: It seems like the industry standard, and it's pretty evident why.

Cons: Still getting a feel for it.

Overall: I've just started using Velocity, so I have very limited experience. However, from by experience thus far, it seems to be a very robust system. For the most part, the navigation is straight forward; it seems to meet the needs of our organization, although we are new users of the system. We look forward exploring deeper Velocity's capabilities to help support our administration.

Recommendations to other buyers: Not at this time

Super flexibility, rock solid Oracle base with friendly personal support

Oct 13, 2016
4/5
Overall
3 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Comments: Have been using Velocity for 5 years. Have found it solid and reliable.
The interface is a little querky and can appear daunting at first but it is highly flexible, benefits greatly from impressive customization abilities, with its in built scripting tool and external code interfaces.
Most importantly, it is very quick to set up new business lines, needing minimal input from the VRC team, though they are always ready to advise and help.

Functionality

Oct 13, 2016
5/5
Overall
3 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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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.

Overall: 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

Oct 12, 2016
5/5
Overall
3 / 5
Ease of Use
5 / 5
Features & Functionality
4 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: The flexibility of the product to perform the functions I need.

Cons: The fact that we can't make the screen bigger

Overall: 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.

Recommendations to other buyers: This is a product that has the ability to expand with your changing needs. A well thought out approach to your end solution is the best application of this software solution.