Case Study: Velocity Risk Underwriters reinvents submission intake with Federato RiskOps

Velocity Risk Underwriters cuts quote time 89% with Federato

Velocity Risk Underwriters, a hybrid MGA/carrier, faced a challenge managing its high volume of over 50,000 annual submissions. Their "first in, first out" system caused underwriters to spend considerable time on low-appetite risks, slowing down their ability to deliver the fast quotes they were known for. They partnered with Federato to reinvent their submission intake process.

By implementing Federato's RiskOps platform, Velocity was able to prioritize high-appetite submissions. The solution resulted in an 89% reduction in the average time from submission to quote issuance, dropping from over 21 days to just over 2 days. Federato also helped Velocity achieve a threefold increase in both the percentage of high-appetite quotes and bound policies.

Velocity Risk Underwriters