Velocifile provides an AI‑driven platform that automates risk modeling, pricing, and policy wording for property and casualty insurance products. By ingesting loss data, underwriting rules, and regulatory constraints, it generates data‑backed product configurations and scenario analyses in minutes, delivering results through an interactive dashboard and integration APIs for underwriting and policy administration systems.
Funding
Funding not disclosed
Founders
Product
Problem
Insurance carriers often face lengthy, manual processes when designing and pricing property and casualty (P&C) products, leading to slower time‑to‑market and difficulty adapting to emerging risks.
Solution
Velocifile leverages artificial intelligence to automate key stages of P&C product development, including risk modeling, pricing, and policy wording generation. The platform ingests historical loss data, underwriting guidelines, and regulatory constraints to produce data‑driven product configurations in minutes. Users can explore scenario analyses, adjust risk parameters, and instantly see the impact on pricing and profitability. Results are delivered through an interactive dashboard that integrates with existing underwriting and policy administration systems, enabling insurers to launch new products faster and maintain competitive pricing.
Target Audience
Velocifile is aimed at property and casualty insurers, underwriting teams, and product managers responsible for developing and pricing new insurance offerings.
Features
- AI‑powered risk modeling that synthesizes large loss datasets and external risk indicators
- Automated pricing engine that generates actuarially sound rates with regulatory compliance checks
- Dynamic policy wording generator that produces customized contract language based on product parameters
- Scenario simulation tools for rapid “what‑if” analysis of emerging hazards and market conditions
- Integration APIs for seamless connection to underwriting, policy administration, and analytics platforms