Vitesse provides treasury and payment solutions specifically designed for the insurance industry, enabling real-time control and optimization of claim funds through integration with tier-1 banking partners. By streamlining claims operations, Vitesse allows insurers and third-party administrators to unlock up to 80% of capital tied in claims, enhancing operational efficiency and improving the claimant experience across 180+ countries.
Funding
$92.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
KKFounders
Product
Problem
Insurance companies face challenges in efficiently managing and controlling claim funds, especially when delegating operations to third-party administrators (TPAs) and managing general agents (MGAs). Capital can be tied up in claims operations, limiting its availability for other business activities. Traditional payment methods can be slow and lack transparency, hindering the claimant experience.
Solution
Vitesse offers a treasury and payment platform designed specifically for the insurance industry, providing real-time control and optimization of claim funds. The platform integrates with tier-1 banking partners to provide a secure infrastructure for protecting and controlling claim funds, even when delegated to TPAs/MGAs. By streamlining claim fund management, Vitesse enables insurers to unlock up to 80% of capital tied up in claims operations, allowing them to redirect funds to revenue-generating activities. The platform supports fast, full-value payments across 180+ countries and currencies through various methods, including bank transfers, eChecks, and pay-to-card, improving the claimant experience.
Target Audience
Vitesse targets insurers, carriers, MGAs, and TPAs seeking to optimize claim fund management, improve operational efficiency, and enhance the claimant experience.
Features
- Integration with tier-1 banking partners for secure claim fund management
- Real-time insights and reporting for enhanced control over claim funds
- Versatile payment methods, including bank transfers, eChecks, and pay-to-card
- Support for payments across 180+ countries and currencies
- Automated reconciliation and reporting
- Secure infrastructure for protecting claim funds delegated to TPAs/MGAs
- Customizable user roles and permissions