Fees Services

Transforming fee administration with centralised expertise

Managing fees in today’s fast-paced insurance market is complex and resource-intensive, with companies facing time-consuming administrative processes, limited expertise, rising costs, operational inefficiencies, and outdated technology that hinders functionality and affordability.

Velonetic Fee Services simplifies the entire fee workflow. We manage fee agreements, secure necessary approvals, and ensure timely, traceable payment to experts, managing agents, and carriers. Our unique market position allows us to leverage existing agreements and specialist expertise to deliver efficiency across the Lloyd’s and Company markets. 

Market impact at scale:

Turn fee complexity into operational simplicity

Whether it’s pre- or post-claims, we ensure accuracy, speed, and compliance.

Hands off fees processing 

We can create the submission into Velonetic for return premium processing and settle via central settlement number or Direct Payment to the expert.

Easy contracting 

If you're signed up to the London Market Central Service's FERN agreement, you don't need to contract separately with us for pre- or post-claims fee services - making onboarding simple and hassle-free. 

Expert payment and chasing 

We go to market and take on the administrative burden of chasing invoices, securing payment and settling directly for experts who might not have the direct relationships with all market participants.