Wakam UK Ltd, a digital insurer serving MGAs, brokers and the embedded insurance market, has partnered with Vitesse to overhaul how claims funds are managed across its UK and European operations.
The partnership sees Wakam UK adopt Vitesse’s financial infrastructure platform to replace manual claims funding processes with a centralised, real-time model, according to FF News.
The move provides greater visibility and control over claims funds, reduces financial leakage and improves capital efficiency across Wakam’s network of managing general agents (MGAs) and third-party administrators (TPAs).
As Wakam UK expands across the UK and Europe, the platform enables real-time payments and standardized claims data flows, strengthening operational resilience while freeing up capital previously tied up in loss funds. Industry-wide, loss funds often hold between 16 and 24 weeks of expected paid losses. By moving to Vitesse’s centralized model, Wakam UK has reduced this to around six to seven weeks, releasing capital to support new product launches and accelerate European growth.
Dean Witherington, Chief Claims Officer at Wakam UK Ltd, said the partnership had fundamentally changed how claims funds are handled.
“Partnering with Vitesse has transformed how we manage and move claims funds. We now have real-time visibility, control and confidence in every payment, ensuring approved claims reach the right beneficiaries quickly and securely,” he said. “Automation and transparency have significantly reduced manual reconciliation and the risk of leakage, saving time and money that we can reinvest into customer service and innovation.”
The shift is also delivering benefits across Wakam UK’s partner ecosystem. More than 50 MGA and TPA partners have already been onboarded to the Vitesse platform, giving them faster access to claims funds and removing the need to use their own capital to settle claims.
Automated fund flows, reconciliation and reporting reduce administrative burden while providing real-time insight into available funds.
Phil McGriskin, Chief Executive Officer of Vitesse, said Wakam UK’s implementation demonstrated the impact of bringing claims fund management onto a single platform.
“They’re achieving faster settlements, greater liquidity and tighter financial control, helping minimise leakage and strengthen trust with customers and partners,” he said.
Vitesse provides financial infrastructure for the global insurance ecosystem, supporting claims fund optimisation, real-time international payments and regulatory compliance. The company is licensed by the FCA in the UK and De Nederlandsche Bank in Europe, and has processed more than $20 billion in payments across over 200 countries and currencies.
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