Vertafore AI Agent Automates MGA Submission Intake

Vertafore has launched a new AI tool called the Velocity AI Submission Processing Agent. This tool aims to speed up how Managing General Agents, or MGAs, handle submissions for underwriting. The agent works within Vertafore's MGA workflows. It specifically targets the slow process of submission intake. Many teams currently read emails, open PDFs, and manually extract details. This new system reads various formats like emails, PDFs, and spreadsheets. It then pulls out relevant information and organizes it for review. The agent also checks if a submission is complete. It flags missing information and automatically generates follow-up requests. Early feedback shows the Submission Processing Agent achieves 87% accuracy. Dan Rieden of XPT Specialty says this allows his team to process submissions in any format without extra configuration. Emily McGinn of Vertafore notes that underwriters often lose time gathering information instead of assessing risk. This tool helps teams make decisions faster and handle more business. This innovation could significantly reduce administrative delays in the insurance industry.