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
£117.9 billion
In insurance premiums and claims processed in 2024
99.58%
Average IT SLA
1500+
Employees supporting
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.
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.
