Velonetic is delivering the future of insurance today
In May 2022, Velonetic (as the London Market Joint Ventures representing the shareholdings between DXC Technology, the IUA and Lloyd’s) agreed an extension of the contract with DXC Technology to build the digital platform that will underpin the London market's transformation, to include a set of services that will create the foundation to safely transition approximately 400 London market insurance companies over to the cloud-native digital platform running on AWS.
The single digital platform will transform legacy systems to modern applications using AI, automation, and the cloud, bringing significant improvements in speed and efficiency. Velonetic’s new digital premium and claims processing services will bring straight-through processing and reduce resource intensive tasks.
Velonetic’s digital platform and services address pain points to make the insurance market faster, more flexible and resilient
Velonetic's role in the digital transformation of the insurance marketplace
We are working with market associations, brokers, underwriters, software vendors and other market participants under the Blueprint Two initiative to ensure that we build services that are data-focused, agile, and secure to deliver the digital transformation of the insurance marketplace.