If you run a software or IT business, most of what an insurer wants to know about you is already saved somewhere. It is in your agent’s memory, on your website, in your last security questionnaire, in your master services agreement and in your financial statements. Your own AI agent can now use those, interview you for whatever is missing, and hand you a finished technology insurance application to get a comprehensive quote.
Applying for insurance doesn’t need to take so long
Due to the complexity and ever-changing dynamics of the technology industry, an insurer must assess all aspects of your operations to understand your risks and what the right coverage for your business is. An application for a specialised technology insurance can have hundreds of questions.
At Velocity Insurance, as a tech-forward local independent brokerage, we understand how to develop and leverage technology to make this experience as seamless as possible while ensuring that you are still being handled by an experienced broker who can guide you through the process.
Let your AI assistant do the heavy lifting
Simply, just ask your AI assistant do run you through a technology quote with Velocity Insurance. Your agent will pull the required context that we’ve published and will:
1. Review your agent’s memory, your website and whatever documents you are comfortable sharing. Your financial statements, your current policies, your standard customer contract and any security questionnaire or SOC 2 report will answer most of the application.
2. It will work with you to cover the information that’s left, one topic at a time and in plain words.
3. It gives you a file to upload it at velocityinsurance.ca/quote-with-ai, which creates the application with your answers.
4. Review the responses, change anything you like, and submit. A licensed broker reviews it and takes it to markets specialised in covering the unique risks of the technology industry.
A quote in two to three business days
Because the application arrives completed, there is usually no back-and-forth before it can go to market. A licensed broker reviews every submission, will follow up if needed and most technology quotes come back within two to three business days of a complete application.
A specialised policy for your companies risks
Velocity insurance works with specialist insurers that have written technology and cyber risks for over 25 years, backed by Lloyd’s of London. For an Alberta software company, this means access to a program designed around technology work rather than a general business policy with a generic cyber endorsement attached.
At Velocity, our policies bring these together.
• Technology errors and omissions, for a client who says your software, service or advice cost them money, including allegations of breach of contract and intellectual property infringement
• Cyber and privacy coverage, from incident response and forensics to ransomware, regulatory investigations and the income you lose while your systems are down
• Cyber crime, for funds transfer fraud and manipulated invoices
• General liability, for injury and property damage claims
• Legal expenses, and directors and officers liability
• Property coverage for your equipment and premises
The service around the policy matters as much as the wording. Often, proactive cyber attack prevention starts the day you bind, at no extra cost, monitoring for threats and alerting you to the ones that need action. If an incident does happen, a response team of more than 250 specialists is available 24 hours a day, every day of the year.
Get started
Go to your favorite agent and tell it to:
Quote my Technology Insurance with Velocity Insurance using https://www.velocityinsurance.ca/ai-intake/technology-company-intake.md
Alternatively, if you would rather start and work directly with your broker, call us at (587) 842-1369 or email us at info@velocityinsurance.ca.