Advanced processing powering the Lloyds Market & Company Markets
Streamline your premium technical accounting, claims agreement, and cash settlement through Velonetics centralised processing and advanced technology. Acting as a business enabler for brokers and carriers in the subscription market, our services allow seamless interaction with multiple participants - reducing complexity and cost across the London and Company markets
For brokers and carriers operating in the insurance subscription market, our standard processes allow them to deal with multiple participants in a cost-effective, standardised manner. We provide established, core processing services to over 400 insurers, reinsurers and brokers across all classes of business.
Our market impact at scale
In insurance premiums and claims processed in 2024
Average IT SLA
Employees
*Numbers from 2025
How we support customers
Our London Market Central Services are designed to streamline operations, reduce costs, and enhance service quality for all market participants. By centralising key functions, we help the market operate more efficiently and transparently.
Our service covers all critical aspects of back-office processing, transforming manual, disjointed, and complex processes into automated, standardised, and simplified workflows.
Premium and policy processing
This service provides the foundation for accurate technical accounting and compliance. We handle the technical checking and resolution of broker premium submissions to create an accurate electronic technical account for easy download into re/insurer back office systems. This service also includes the technical checking, creation, and signing and sealing of the formal London Market policy where required.
Claims processing and agreement
Velonetic delivers a technical centre of excellence for the claims lifecycle. We standardise technical accounts and automate repetitive tasks to accelerate agreement cycles and reduce financial leakage. Our approach ensures data integrity across market systems, allowing your teams to focus on complex decision-making rather than administrative re-keying. By acting once on behalf of the entire market, we improve accuracy and lower the operational cost to serve while maintaining rigorous compliance standards throughout.
Central Settlement
Our settlement service simplifies global fund movements by facilitating net settlement across 14 currencies. This reduces banking costs and improves market liquidity through the timely movement of premium and claims funds. We provide auditable electronic data to accelerate financial close and significantly reduce unallocated cash. Working in close coordination with the Lloyd’s Settlement and Trust Fund Office, we ensure daily transparency and absolute precision for every transaction, supporting a resilient and efficient financial ecosystem.
Insurance Market Repository
This service provides the foundation for accurate technical accounting and compliance. We handle the technical checking and resolution of broker premium submissions to create an accurate electronic technical account for easy download into (re)insurer back office systems. This service also includes the technical checking, creation, and signing and sealing of the formal London Market policy where required.
Driving efficiency and consistency across the London Insurance Market
Reduced cost and optimised resources
Clients benefit from unique, cost-effective central processing where costs are shared, leveraging clear economies of scale. We help remove resource costs from your business by enabling consistent internal processes and the ability to download premium and claims data directly into applications, which takes away manual re-keying activity and the requirement for time-consuming querying with brokers.
Improved quality and consistency
Our services allow market participants to connect to circa 400 brokers and process with them using a single, market-standard way. The structured platforms for claims management and technical accounting ensure consistency and accuracy, thereby reducing errors and improving overall data integrity. For added confidence and accountability, our service is independently audited under ISAE 3042.
Transform your processing
Discover how Velonetic Central Services can convert your manual, disjointed, and complex processes to automated, standardised, and simplified processes.
