Velonetic is leading, shaping, and building the digital future of the global insurance marketplace.

Velonetic is making insurance easier for a smarter, faster, global marketplace. Previously referred to as the London Market Joint Ventures, Velonetic represents the joint ventures between DXC Technology, International Underwriting Association, and Lloyd’s, that have been operating for over 20 years in the London and Company markets, in both insurance and reinsurance business. 

Velonetic has over 500 employees with extensive experience and expertise who deliver high quality services to over 400 customers. We provide London Market Central Services as our core offering, as well as bespoke professional services to support our customers throughout the insurance lifecycle – from policy and premium placement to claims and settlement. To put this in context, in 2022, we processed over £101.1 billion worth of premium and claims transactions and handled over 209 million messages. We managed over 2 million premium transactions and over 1.6 million claims notifications – all while delivering achieving 99.8% of our IT service level agreement with our customers.

Velonetic is delivering the future of insurance today. In May 2022, Velonetic (as the London Market Joint Ventures representing the shareholdings between DXC Technology, the IUA and Lloyd’s) agreed an extension of the contract with DXC Technology to build the digital platform that will underpin the London market's transformation, to include a set of services that will create the foundation to safely transition London market insurance companies over to the cloud-native digital platform running on AWS. The single digital platform will transform legacy systems to modern applications using AI, automation, and the cloud, bringing significant improvements in speed and efficiency. Velonetic’s new digital premium and claims processing services will bring straight-through processing and reduce resource intensive tasks.


Insurance

Velonetic

Velonetic's headquarters in London, United Kingdom

This department focuses on enhancing employee skills and knowledge through training and development programs.

Learning and Development

This department focuses on analyzing business processes, identifying opportunities for improvement, and providing insights to drive organizational performance.

Business Analysis

This department handles property claims adjustments and examinations to ensure fair resolution and processing.

Claims Management

This department oversees the planning, execution, and completion of projects to ensure they are delivered on time and within budget.

Project Management

This department focuses on ensuring that products meet quality standards through testing and analysis.

Quality Assurance

The Transformation and Program Management team at Velonetic spearheads the modernization and digital transformation efforts within the company. This team is responsible for managing and implementing strategic programs and projects that transition legacy insurance systems to innovative, AI-driven, and cloud-native platforms. Their work ensures seamless integration, optimizes business processes, and enhances service delivery to elevate operational efficiency and customer satisfaction. The team also oversees change management and ensures delivery assurance for all transformation initiatives.

Transformation and Program Management

The Data and Analytics Team at Velonetic leverages advanced data science and analytical techniques to drive insights and efficiencies across the insurance lifecycle, from policy and premium placement to claims and settlement. They build and maintain robust data architectures, perform complex data analyses to support decision-making, and utilize AI and automation to enhance processing speed and accuracy. Their work ensures the delivery of high-quality data services, enabling Velonetic to deliver innovative digital solutions to the global insurance marketplace.

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Other teams

Business Analysis

Claims Management

Project Management

Quality Assurance

Transformation and Program Management

Data and Analytics Team