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Insurance, News

Faster claims pilot underway

Moving money in minutes

For the last 5 months, Vitesse have been working with multiple London market participants and the Faster Claims Payments project team to address a consistent pain point – the time it takes to source funding from multiple parties and make a payment to a claimant. We’re now 6 weeks into our successful pilot.

Our claimant-focused solution enables real-time transfers from multiple syndicates to fund claims, sees the eradication of loss funds repatriating £m’s to Managing Agents and delivers an end-to end seamless process from payment approval, sourcing funds and claimant receipt in less than a minute.

We are so proud of the FCP project team and all at Vitesse for delivering this game changing solution….there’s so much more to come and we can’t wait to share it!

For more information, visit:
https://www.lloyds.com/news-and-insights/news/faster-claims-pilot-for-delegated-authority-business-underway

LMA Bitesize session

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