Vega
Vega is an AI-native third-party administrator that manages the full claims lifecycle—from first notice of loss through payout—for MGAs, carriers, self-insured entities, and captives. Its platform combines experienced adjusters with an AI model trained on 10M+ claims to deliver roughly 70% faster resolution times, averaging 21 days versus the industry norm of 60–90 days.
- Insurance Technology
- Artificial Intelligence
- Software Only
Funding
Founders
Founder details are not available yet.
Product
Problem
Traditional third-party claims administration often relies on fragmented, manual processes that stretch cycle times to 60–90 days, leaving carriers and MGAs with limited visibility into claim status and risk. This slow pace increases loss severity, delays payouts, and makes it difficult to identify litigation risk or excess exposure before they become costly surprises.
Solution
Vega provides a proactive third-party administrator platform that streamlines the entire claims lifecycle—from first notice of loss through payout—using a single AI-enhanced system operated by experienced adjusters. The platform integrates every step, including FNOL, triage, coverage, liability, fraud, appraisal, and payouts, into one workflow. An AI model trained on 10M+ claims flags litigation risk and large losses early, while real-time dashboards, weekly claim updates, and modern APIs provide transparency. This approach delivers up to 70% faster resolution times, achieving an average cycle of 21 days compared with the industry norm of 60–90 days, and helps lower loss severity by 5–10%.
Target Audience
Primary customers are managing general agents (MGAs), insurance carriers, self-insured entities, and captives that need faster, more transparent claims resolution and early risk detection.
Features
- Single end-to-end system covering FNOL, triage, coverage, liability, fraud, appraisal, and payouts
- AI risk model trained on 10M+ claims for early litigation and severity prediction, with reserves targeted at ±10% accuracy by Day 5
- Real-time customizable dashboard, weekly claim updates, and modern APIs with 99.9%+ uptime
- AI-assisted coverage and liability assessment, plus subrogation and recovery with automated demand letters and follow-ups
- Dynamic loss runs and BDX reporting with safety and underwriting insights
- Time to initial contact under 3 hours, with a 95–100% closing ratio and 4.8/5 customer satisfaction