TALK TO US
LOGIN
A NEW WAY TO SETTLE CLAIMS

Faster Claims Payment

Get In Touch

Despite the digital transformation we are seeing within the insurance market, it can still take up to 14 days to settle a claim.

In a world of real-time, customers expect to see the same speed and seamless experience with their claim experience. 

Our success so far

Faster Claims Payment (FCP) is the new funding and payment solution, created by Vitesse and Lloyd’s, that delivers fast and direct claims payments to customers.

Processed

5,500

payments delivered

Payments

$18 million

paid out

Automated

Over 20

automated cycles completed

With faster claims payment you benefit from

Better Customer Experience

Deliver a seamless customer experience by paying claims in real time.

Centralised Funds View

Have real-time visibility, control and flexibility in your capital management and benefit from associated account and transaction fee reduction.

Funds in Regulated Environment

Funds are held in a regulated environment with all funds protected through safeguarding with annual audits.

No More Cash Calls

Using our platform, claims payments are drawn from insurer funds, removing the need for loss funds and required cash calls.

80% Funds Returned to Your Business

Automatic sweeps to fund claims payments facilitate an 80% reduction in committed liquidity, freeing up funds to invest back into your business.

No More Cash Calls

Using our platform, claims payments are drawn from insurer funds, removing the need for loss funds and required cash calls.

80% Funds Returned to Your Business

Automatic sweeps to fund claims payments facilitate an 80% reduction in committed liquidity, freeing up funds to invest back into your business.

How does FCP work?

  • MA holds small liquidity balances with Vitesse, automatically topped up as needed.

  • Liquidity pulled from each MA Vitesse account depending on % split (as detailed in binder) in real-time to fund the DCA approved payment.

  • Claimant settlement flow delivers funds in real-time.

Get in touch

To find out more about the solution and next steps, get in touch today.

To find out more about the solution and next steps, get in touch today.

Get In Touch

Additional resources

How insurtechs are driving change in insurance

Future of Lloyds

DCA & MA Guidance

Privacy Settings
We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
Youtube
Consent to display content from Youtube
Vimeo
Consent to display content from Vimeo
Google Maps
Consent to display content from Google
Spotify
Consent to display content from Spotify
Sound Cloud
Consent to display content from Sound
Talk To Us
login