The latest partnership news for you;
Wakam UK Ltd, a leading digital insurer serving MGAs, brokers, and the embedded insurance market, has partnered with Vitesse, the trusted financial infrastructure platform for the global insurance ecosystem, to transform claims fund management and improve capital efficiency for its network of managing general agents (MGAs) and third-party administrators (TPAs).
As Wakam UK Ltd expands across the UK and Europe, the company is adopting Vitesse’s platform to deliver real-time visibility, control, and integrity of claims funds and data. The move replaces manual processes with a centralized funding model, enabling real-time payments, reducing financial leakage, freeing up capital, and strengthening operational capabilities.
Transforming Claims Fund Management
“Partnering with Vitesse has transformed how we manage and move claims funds. We’ve gained real-time visibility, control, and confidence in every payment, ensuring approved claims reach the right beneficiaries quickly and securely,” commented Dean Witherington, Chief Claims Office, Wakam UK Ltd
“The automation, transparency and consistent claims data across partners have significantly reduced manual reconciliation and the risk of leakage across the process, saving us time and money that we can reinvest into customer service and innovation.”
Across the industry, loss funds frequently hold 16–24+ weeks of expected paid losses, tying up capital across delegated authority programs. By moving to Vitesse’s centralized model, Wakam UK Ltd has been able to operate with 6–7 weeks of reserves, freeing capital to support new product launches and accelerate expansion across Europe.
Driving Efficiency and Reducing Leakage
“Wakam UK Ltd’s adoption of our infrastructure shows what’s possible when insurers bring financial control and claims fund management onto a single, trusted platform,” says Phil McGriskin, CEO of Vitesse
“They’re achieving faster settlements, greater liquidity, and tighter control that helps minimize leakage and strengthen customer trust.”
The shift is also delivering tangible benefits to Wakam UK Ltd’s partner network. More than 50 MGA and TPA partners have been onboarded to the Vitesse platform, giving them faster access to Wakam UK Ltd’s claims funds and eliminating the need to use their own capital to settle claims.
The platform’s automation of fund flows, reconciliation, and reporting reduces administrative workload and provides real-time insight into available funds, improving speed and accuracy in claims payments. It also standardizes the flow of claims data back to Wakam UK Ltd, strengthening reporting quality and operational consistency across partners.
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