Revolutionizing Employee Benefits: Vertafore's New AI Agent Streamlines Setup Process

Vertafore Unveils the Velocity AI Benefit Plan Agent

Vertafore®, a leader in modern insurance technology, has recently introduced the Velocity AI Benefit Plan Agent, an innovative solution designed to enhance the efficiency of the employee benefits administration process. This latest development integrates seamlessly into BenefitPoint®, a module of AgencyOne®, which is widely recognized as a market-leading employee benefits solution.

A Game-Changer for Benefits Brokers

As benefits season approaches, the introduction of the Velocity AI Benefit Plan Agent comes at a crucial time for brokers. The agent is designed to automate one of the most labor-intensive aspects of benefits administration: the setup of benefit plans. Traditionally, setting up these plans requires significant manual effort, including reviewing carrier plan documents, entering data into management systems, and ensuring the accuracy of all information before providing client services. This manual process can be time-consuming and prone to errors.

With the Velocity AI Benefit Plan Agent, the setup time can be reduced by up to 70%. Users can upload plan documents into the system, where the AI capabilities of the agent extract and organize critical plan information. After data is structured, users review and approve the information before finalization, ensuring accuracy with up to 90% correctness.

Enhancing Efficiency and Consistency

By automating tedious data entry and minimizing reliance on third-party extraction tools, agencies are positioned to streamline their operations. This transition enables them to onboard plans more swiftly and with increased consistency, thus empowering agencies to improve client service while managing schedules more effectively. As James Thom, Chief Product Officer at Vertafore, points out,