A new way to settle claims in the Lloyd's market.
Vitesse have partnered with Lloyd’s and LIMOSS to operate an integrated funding and payment solution enabling fast payouts to claimants worldwide.
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Fast Payments
Send funds with ease and speed in most destinations and currencies around the world.
Reduced capital usage
Streamline the funding of claims operations, eliminating the need for large loss funds
Real time view
MA, Broker and DCA can see loss fund balances and payment logs at any time
Better customer Experience
Meet or exceed your customers’ expectations by paying claims faster.
Centralised funds view
View and control your loss funds in real time; Define access rights and validation rules for delegated authorities.
Funds governance
Loss funds are held in tier-1 bank partners in regulated markets and protected through annual safeguarding audits.
No more cash calls
With FCP, Loss funds are topped up automatically on a weekly basis, minimising the need for cash calls.
Up to 80% of funds returned
Weekly automated top ups allow for a reduction in committed liquidity, freeing up capital to invest back into your business.
Step one
MA holds small liquidity balances with Vitesse, automatically topped up as needed.
Step two
DCA approves a payment; the liquidity is pulled from the MA funding account(s) depending on the percentage split on the binder.
Step three
The funds are delivered to the claimant as quickly as possible, ranging from a few seconds to 1 or 2 days for the most complex destinations.
Dave Hausch
President, Hausch and Company
