Wakam UK Overhauls Claims Fund Management Through Strategic Partnership with Vitesse

Introduction

Claims handling has long been one of the most operationally complex and scrutinised areas of the insurance industry. Delays, fragmented fund flows, and limited real-time visibility have historically made claims fund management inefficient—not just for insurers, but also for brokers, coverholders, and end customers.

In a move that signals a broader shift toward fintech-enabled insurance operations, Wakam UK has partnered with Vitesse to overhaul its claims fund management infrastructure. The collaboration introduces a modern, technology-led approach designed to bring speed, transparency, and control to how claims funds are held, distributed, and tracked across the insurance value chain.

For the insurtech and fintech ecosystem, this partnership reflects a growing recognition that payments and treasury infrastructure are no longer back-office concerns—they are strategic capabilities.

Why Claims Fund Management Needed a Rethink

Claims fund management sits at the intersection of compliance, liquidity, and customer experience. Traditionally, insurers have relied on manual processes, segregated accounts, and delayed reconciliation to manage claims payouts. While functional, these systems often lack flexibility and real-time oversight.

Wakam UK’s decision to modernise reflects several industry-wide pressures:

• Increasing regulatory scrutiny around client money and fund segregation
• Rising expectations for faster claims settlement
• Greater complexity in delegated authority and multi-party insurance models
• The need for accurate, real-time financial reporting

As insurance models become more distributed and partnership-driven, legacy fund management systems struggle to keep up. This creates friction—not only operationally, but also in trust and accountability.

The Role of Vitesse in the Transformation

Vitesse specialises in real-time payment and treasury solutions for the insurance sector, focusing specifically on claims funds and premium flows. Through its platform, insurers gain direct visibility and control over claims money held across multiple accounts, without relying on slow or manual reconciliation processes.

By partnering with Vitesse, Wakam UK gains access to:

• Real-time tracking of claims funds
• Automated payment workflows
• Improved governance and compliance controls
• Faster settlement cycles for claims-related payments

Instead of operating with delayed snapshots of fund positions, Wakam UK can now manage claims liquidity dynamically. This marks a significant shift from reactive fund administration to proactive financial control.

Operational Impact Across the Insurance Ecosystem

The impact of this overhaul extends beyond Wakam UK itself. Claims fund management touches multiple stakeholders, including brokers, managing general agents, coverholders, and claims administrators.

With Vitesse’s infrastructure in place:

• Claims payments can be processed faster and with greater accuracy
• Intermediaries benefit from clearer visibility into fund positions
• Reconciliation and reporting become significantly more efficient
• The risk of errors or delays is reduced

For partners operating under delegated authority arrangements, this level of transparency is particularly valuable. It simplifies oversight while strengthening trust between insurers and distribution partners.

Improving Compliance and Financial Governance

Regulatory compliance is a central driver behind modernising claims fund management. Insurers are required to demonstrate clear segregation of funds, accurate reporting, and robust controls over how claims money is held and disbursed.

The Wakam–Vitesse partnership supports this by embedding compliance into the infrastructure itself. Automated controls reduce reliance on manual checks, while real-time data enables faster responses to audits and regulatory inquiries.

This approach aligns with a broader industry trend: building compliance by design, rather than treating it as a separate operational layer.

Claims Experience as a Strategic Differentiator

While much of the focus is on operational efficiency, claims handling remains one of the most emotionally significant moments in the insurance journey. Faster and more predictable payouts directly influence customer satisfaction and brand trust.

By modernising its claims fund management:

• Wakam UK reduces friction in the payout process
• Delays caused by funding bottlenecks are minimised
• The overall claims experience becomes smoother and more reliable

In an increasingly competitive insurance market, the ability to deliver a seamless claims experience is a key differentiator—one that is now deeply tied to fintech infrastructure.

A Signal of Fintech–Insurtech Convergence

This partnership is also notable for what it represents strategically. Insurance companies are no longer viewing fintech solutions as optional enhancements. Instead, they are integrating them into core operational workflows.

The collaboration between Wakam UK and Vitesse highlights:

• The growing importance of embedded finance in insurance
• The role of real-time payments in operational resilience
• A shift toward platform-based insurance operations

As insurers scale and diversify, fintech partnerships are becoming essential to maintaining agility and control.

Conclusion

Wakam UK’s partnership with Vitesse marks a meaningful step forward in how claims fund management is approached in the insurance industry. By replacing legacy processes with real-time, technology-driven infrastructure, Wakam is positioning itself for greater operational efficiency, stronger compliance, and improved stakeholder trust.

More broadly, the move reflects a structural shift underway across insurance—one where payments, treasury, and claims operations are no longer isolated functions, but integrated components of a modern financial ecosystem.

For insurers navigating increasing complexity, the message is clear: modern claims management starts with modern financial infrastructure.

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