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

Vijay Reed

Bob Verber

Daljeet Juttla

Dan Turner

Lynne Prowse

Alison Ellis

David Emery

Darren Dainty

Joe Rodgers

Ray Johnston

Juliette Young

Rashmi Gupta

The Product and Technology team at Velonetic plays a crucial role in driving the digital transformation of the global insurance marketplace. Comprising key roles such as the Chief Architect, Digital Product Owner (claim), Product & Technology Director, and Head of Delegated Underwriting Services/Product Manager, this team is responsible for designing and developing the cutting-edge digital platform that modernizes legacy systems. Utilizing AI, automation, and cloud technologies, the team ensures the efficient, secure, and seamless transition of London market insurance companies to a cloud-native infrastructure, enhancing speed and reducing resource-intensive tasks across policy and claims processing.

Product and Technology

Transformation and Program Management

Data and Analytics Team

Customer Relationship Management

Product and Technology

About

Team members

Other teams at Velonetic

Transformation and Program Management

Data and Analytics Team

Customer Relationship Management