V3locity for
Group Insurance

A Transformative Group Insurance Software Solution

V3locity is a powerful insurance administration software solution that offers group, voluntary, and worksite insurance capabilities integrated in a single cloud-native platform. V3locity’s extensive core functionality, advanced digital features and fluid configurability make it a truly transformative solution for insurers.

Speed to Market

Create new insurance products, update existing offerings, and adapt to the changing market quicker than ever before. V3locity gives you the speed and agility to capitalize on market opportunities, meet changing customer needs and improve your competitive positioning.

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Customer Experience

Deliver a seamless omnichannel customer experience using V3locity’s hyper-personalized, persona-based customer servicing features and digital self-service capabilities. Together, these features create a 360-degree view of the customer.

Modernize & Consolidate

V3locity offers a complete suite of administrative, digital, enterprise and analytic capabilities in a single, cloud-native, zero-footprint, SaaS platform. V3locity enables you to both consolidate distinct systems and increase efficiency via straight-through processing, and to build a modern ecosystem of advanced technology through robust API integration.

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Product Lines

Group Insurance
Life
Group Insurance
Disability
Group Insurance
Health
Group Insurance
Accident
Group Insurance
Critical Illness
Group Insurance
Hospitalization
Group Insurance
Dental
Group Insurance
Vision
Group Insurance
Drug
Group Insurance
Credit Protection
Group Insurance
Annuities
Group Insurance
Investments

Go to Market!

Innovate your market offerings like never before. V3locity provides a flexible approach to rapid product definition, enabling you to quickly configure new products and define rules for plan, rider, option, rating, contracting, onboarding, enrollment, billing, benefit, claims and customer engagement – all in one platform.

Quote, Rate and Propose

Increase broker satisfaction and boost the efficiency of the sales process with V3locity. Powered by integrations with best-of-breed rating solutions, Vitech enables insurers’ advanced quoting capabilities, flexible plan designs, accurate rating, and attractive push-button proposals. V3locity’s software solution streamlines the end-to-end quote process by reducing the time to quote, enabling quotes for multiple product and plans, and providing a seamless transition from sales management to case onboarding that requires no manual processing. V3locity provides:

  • Prospect and Opportunity Management
  • Rating and Underwriting Workbench
  • Proposal Document Generation
  • Sales Dashboards for Brokers, Reps and Execs

Contracting and Onboarding

Onboarding can be challenging with the volume of data and documents being exchanged in shortened timeframes. V3locity is purposely designed to support the complexities of employee data and plan rules, and seamlessly bridges the sales and onboarding processes. Actionable metrics and analytics are provided across all activities to enable continuous improvements to the onboarding process. V3locity provides:

  • Seamless integration into modern quote, rate and proposal tools
  • Contract generation with state/province language
  • Electronic document exchange
  • Holistic view of employer groups and employees
  • Robust workflow and process tracking

Enrollment

The key to success in the group insurance business is being able to easily enroll your customers’ employees into the right plans, with the right options and elections, at the right time. V3locity is an intuitive but flexible enrollment solution that automates this process, while following eligibility rules and class designations. File-based and online digital self-service capabilities give you a competitive advantage and transformative operating efficiencies. V3locity provides:

  • Employer and employee self-service-based enrollment
  • Robust API catalog to support integration with 3rd party enrollment and HRIS systems
  • Easier workflows for providing evidence of insurance
  • Actionable metrics and analytics capabilities to better understand product utilization and enrollment success

Policy Administration

Onboarding and enrollment processes result in group contracts and coverages that must be administered through the entire life of a client. This includes employer group and member management activities such as: demographic updates, dependent and beneficiary tracking, life event processing, and contract amendments. V3locity streamlines and automates this process, increasing customer confidence and improving satisfaction scores. V3locity provides:

  • Policy porting and conversions
  • Retroactive changes and seamless downstream calculation and eligibility impacts
  • Renewal event support based on defined rules
  • Audit and history tracking across all activities

Product and Plan Design

Introducing new product lines, or updating existing product offerings, can be cumbersome and time consuming, slowing down your ability to adapt quickly to changing market demands. V3locity Product Designer gives you the speed and agility you need to capitalize on market opportunities, meet changing client needs and improve your competitive positioning. It supports rapid product definition, with the ability to configure plan, rider, option, rating, contracting, onboarding, enrollment, billing, benefit, claims and customer engagement rules all in a single repository. In addition, V3locity offers:

  • Comprehensive inventory of out-of-the box group insurance products
  • Product and plan cloning and traceability to shorten time-to-market and support product and/or plan versioning
  • Single product filing support
  • API integration capabilities to send product model information to underwriting and quoting tools
  • Account structure support for customer, plan, division, and class level provision designations

Billing

Accurate and timely billing is critical to your bottom line and is one of the top drivers of customer satisfaction. Efficient billing will increase the satisfaction of HR departments and payroll providers, but billing can be challenging, because the system must provide the flexibility of a full menu of billing options, match employer payroll cycles, correctly handle payroll deductions, and support list and volume-based billing. V3locity provides:

  • Self-Service billing and payments capabilities for employers and employees
  • List, volume, statutory, direct, ASO and ATP billing
  • Modal premium conversions
  • Payment matching and tolerance rules

Commissions

V3locity delivers the broker and commission capabilities you need to streamline operations, accurately calculate and pay commissions, and empower high-performing brokers. Online digital capabilities allow brokers, consultants, and producers to access quote, onboarding, book-of-business, commissionable activity, and commission payments in a wide range of digital channel and device types. V3locity provides:

  • Fixed, flat, graded, scaled, and heaped commission schedules
  • Broker splits, vesting and reassignments
  • Advances, recoupments, and overrides
  • Flexible commission payment cycles

Claims

Our customer-centric claims solution streamlines your operations, helps you gain the analytical insights necessary to optimize claims outcomes, and transforms how you engage with internal and external stakeholders. V3locity provides advanced capabilities for a broad array of product lines, including group life, accident, critical illness, hospital indemnity, dental, short-term disability, long-term disability, and other products. It is available as standalone claims solution or part of a complete, straight-through solution that is seamlessly integrated with Vitech’s market-leading CoreAdmin suite, DocCenter and Digital experiences. V3locity offers:

  • 360-degree view of claims, members, incidents, and coverages
  • Dynamic workflow rules engine, advanced auto adjudication rules
  • Sophisticated benefit calculations and payments functionality
  • Enhanced workflow management, actionable dashboards and analytics

V3locity for Group Insurance Resources

We are always looking to the future of the industry and creating innovative
technological solutions for the top challenges companies face.

Digital Insurance Administration
BROCHURE

V3locity for Insurance Administration

V3locity addresses voluntary, worksite, true group, and direct insurance administration needs across a broad range of functions and product lines on one cloud-native, integrated platform.

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INSIGHT

The Group Insurance Post Pandemic Future

In the “new normal”, insurers need to focus on advanced technology, future-focused partners, and wise budgeting and investments to deliver value-added results.

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ANALYST REPORT

Celent: Policy Administration Systems: North American Group/Voluntary Life Insurance Edition

Vitech received two XCelent awards in Celent’s 2022 North American Group/Voluntary Life PAS ABC report for Advanced Technology and Customer Base and Support.

Ready to begin your journey to the future?

We would love to talk to you.