Wakam UK, a digital insurer focused on MGAs, brokers, and embedded insurance, has partnered with payments specialist Vitesse to rework how claims funds move across its UK and European operations.
Under the agreement, Wakam UK replaces manual claims funding processes with Vitesse’s centralised, real-time financial platform.
The shift gives the insurer clearer oversight of claims cash, tighter control of outflows, and less money stranded in operational limbo.
Claims funding has long tied up capital across the sector. Loss funds typically sit idle for 16–24 weeks of expected paid losses.
By switching to Vitesse’s model, Wakam UK has cut that window to roughly six–seven weeks, releasing capital that had been locked away.
That liquidity now feeds new product launches and faster expansion across Europe.
The platform also standardises claims data flows and enables real-time payments, a change that supports Wakam UK’s growing footprint as it scales its MGA and TPA network across multiple jurisdictions.
According to Beinsure analysts, freeing capital at this stage of growth often matters more than marginal cost savings.
Dean Witherington, chief claims officer at Wakam UK, said the partnership reshaped how the company handles claims money.
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.
Dean Witherington, chief claims officer at Wakam UK
“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,” he said.
The effects extend beyond Wakam UK itself. More than 50 MGA and TPA partners have already moved onto the Vitesse platform.
For many, that removes the need to front their own capital to settle claims while waiting for reimbursement. Access to funds speeds up. Balance sheets breathe a little easier.
Automated fund flows, reconciliation, and reporting also reduce day-to-day administrative load, while giving partners a live view of available balances. Less guesswork. Fewer spreadsheets.
Phil McGriskin, chief executive of Vitesse, said Wakam UK’s rollout shows what happens when claims funding sits on a single system rather than being scattered across accounts.
“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 payments and claims funding infrastructure to insurers worldwide. The firm is regulated by the FCA in the UK and De Nederlandsche Bank in Europe, and has processed more than $20 bn in payments across 200+ countries and currencies.
