Vitesse, a global treasury and payment provider for the insurance industry, and Five Sigma, an AI-native claims management technology company, have announced a strategic partnership aimed at modernising claims payouts.
The collaboration comes at a time when insurers are under pressure to upgrade their claims and payment infrastructure to enhance efficiency and compliance, according to FF News.
The partnership integrates Five Sigma’s claims management platform, which leverages AI to automate and streamline claims handling, with Vitesse’s real-time payment infrastructure.
This combination enables insurers, managing general agents (MGAs), and third-party administrators (TPAs) to automate claims payments, improve claimant experience, and ensure regulatory compliance.
Five Sigma’s AI-powered platform accelerates claims handling by reducing cycle times and facilitating automatic claims adjustments through Straight-Through Processing (STP).
Meanwhile, Vitesse’s Payee Choice functionality provides claimants with flexible payout options, allowing them to receive settlements through their preferred payment methods.
This integration helps insurers reduce delays, streamline administrative tasks, and gain better financial oversight, ultimately enhancing the digital claims experience.
The collaboration signifies a shift away from traditional, manual claims payment processes to a fully integrated and automated system.
By connecting claims management, capital oversight, and real-time payments, insurers can lower operational costs, improve liquidity management, and simplify reconciliation while adhering to evolving industry regulations.
“The insurance industry is moving toward an era of fully connected systems, where automation and real-time financial management go hand in hand,” Vitesse CEO & Founder Phil McGriskin said. “By embedding Vitesse’s payment capabilities into Five Sigma’s platform, we’re giving insurers a seamless solution that optimises the entire claims lifecycle—from reserve management to final disbursement—while ensuring faster and transparent payments that enhance policyholder experience. This is also an important step forward in our U.S. expansion, which strengthens our market presence and reinforces our global leadership in claims fund management.”
Five Sigma CEO and Co-founder Oded Barak added, “We’re glad to partner with Vitesse to further streamline and speed up claims handling, from FNOL to payment. Vitesse shares our values of speed, automation, and customer service. We offer insurers the most effective technology tools for end-to-end claims management. By integrating our claims management platform with Vitesse’s advanced payment capabilities, we’re enabling insurers to deliver unmatched operational efficiency and policyholder satisfaction. Faster claims settlements and stronger financial control directly benefit our customers and the broader insurance ecosystem.”
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