Vitesse and Five Sigma partnership aims to enhance insurance claims processing

Vitesse, a global treasury and payment provider for the insurance industry, and Five Sigma, a pioneer in AI-native claims management technology, aim to modernise claims payouts with their new partnership.

With this alliance, both firms look to address the critical need for insurers to modernize their infrastructure, offering a seamless Plug & Play integration that automates payments, significantly enhances the claimant experience, and ensures rigorous compliance with evolving regulatory standards.

The partnership brings together Five Sigma’s AI-native claims management platform, which automates and streamlines claims handling, with Vitesse’s real-time payment infrastructure, designed to enhance settlement disbursement.

By using AI and automation, Five Sigma will be able to accelerate claims handling, enabling insurance companies to reduce cycle times and automatically adjust simple claims through Straight-Through Processing (STP).

Vitesse’s Payee Choice allows claimants to select their preferred payment method, ensuring faster and more convenient settlement payouts.

By integrating these capabilities, insurers using both platforms can eliminate delays, reduce administrative work, and improve financial oversight, ultimately creating a smoother, more transparent, and fully digital claims experience for policyholders, the firms stated.

Phil McGriskin, CEO & Founder, Vitesse, said: “The insurance industry is moving toward an era of fully connected systems, where automation and real-time financial management go hand in hand.

“By embedding Vitesse’s payment capabilities into Five Sigma’s platform, we’re giving insurers a seamless solution that optimizes 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,” he added.

Oded Barak, CEO and Co-founder, Five Sigma, commented: “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.”

The integrated approach, the firms highlight, streamlines the outdated manual claims payment process by connecting claims management, capital oversight, and real-time payments, shifting from outdated, manual claims payment processes

This allows insurers to reduce operational costs, improve liquidity management and reconciliation efforts, and ensure compliance with changing industry regulations.

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