Vertafore Releases AI Tools for Policy Processing

Vertafore has released two of the four Velocity AI agents it introduced in September, according to ColoradoBiz. The Policy Intake Agent enters information from policy documents into agency management systems, while the Policy Check Agent compares issued policies with agency records and supporting documents.

The intake tool processes PDFs, declarations pages, binders, quotes, applications, schedules and spreadsheets. It flags new, changed, missing or conflicting information before users approve record updates. It is available through AgencyOne with AMS360 and in early access for Sagitta.

The policy review tool checks coverage details, limits and deductibles, then recommends corrections for user approval and records the review history. It is available in AMS360. Vertafore said early testing reduced processing time by up to 87% for a typical commercial property and general liability package policy, while policy review time fell by up to 90% per line of business.