Vertafore launches Velocity AI Benefit Plan Agent inside the market-leading employee benefits solution, BenefitPoint

Vertafore has introduced the Velocity™ AI Benefit Plan Agent, which is designed to streamline the setup process for benefit plans. This new tool, embedded within the BenefitPoint® module of AgencyOne®, automates a traditionally manual workflow in benefits administration, cutting setup time by up to 70% and achieving 90% accuracy.

Creating and maintaining benefit plans involves extensive manual work, where professionals often spend considerable time reviewing carrier plan documents and entering data into management systems. The AI Benefit Plan Agent simplifies this process; users can upload plan documents, from which the AI extracts and organizes the essential information for review and approval.

The timing of the launch is critical, coinciding with one of the busiest periods for brokers as they manage numerous plan changes under strict deadlines. By reducing manual data entry and minimizing the need for third-party extraction tools, the new agent enables agencies to process plans more efficiently, enhance data consistency, and reduce errors, all while scaling their operations effectively.

Brooke Flanagan, director of training at Correll Insurance Group, acknowledged the benefits of the agent, stating that it addresses significant bottlenecks in the benefit planning process, allowing her to focus on data validation rather than data entry. James Thom, chief product officer at Vertafore, emphasized the value of this automation in helping agencies improve data quality and deliver greater value to clients during critical workflows.

The Benefit Plan Agent is part of Vertafore's broader AI innovation strategy, which aims to facilitate smoother operations within the insurance value chain. Vertafore currently supports over 4 million employee benefit plans and is recognized as a key player in the insurance technology sector, committed to enhancing efficiency and trust across the industry.