Insurance FAQ

This page will help you get started with Vitesse Insurance.

Managing Agents / Insurers
Technical documentation
Managing Agents / Insurers
technical documentation


Frequently Asked Questions

Establish Loss Fund

How are Loss Funds established in Vitesse?
Loss Funds will be established in Vitesse, following completion of a Vitesse Application Form by the Lead Underwriter and funded by the Broker as per the usual settlement process within the Lloyd’s Market.

How are CAT Loss Funds established in Vitesse?
As per answer to ‘Question 1’.

Can a single central Loss Fund be set up in Vitesse?
Vitesse can facilitate a single central Loss Fund but this will be at the discretion of the Lead Underwriter and depending on the particular situation. Vitesse generally recommend segregating accounts by Binder, Section and YOA for easy of reconciliation.

Can Vitesse be used on all placing basis where a Loss Fund is required?
Yes this is not restricted to the placing basis.

Can Vitesse be used with Third Party Administrators (TPA’s) and Coverholders?
Yes, Vitesse can be used on any account where a Loss Fund is required.

If a Coverholder is currently offsetting Claims from premium, using Vitesse will eliminate this practice.

What happens with the existing (non-Vitesse) Loss Fund?
If you have an existing Loss Fund you will be required to pay claims from that Loss Fund until the Vitesse Loss Fund has been established and the Lead Underwriter has requested you start using the Vitesse Loss Fund.

The defined process is to cease paying from the existing Loss Fund at the end of a month and to start using the Vitesse Loss Fund from the 1st of the month to coincide with the Claims Bordereau period.

How do I return a Vitesse Loss Fund?
In the same way as previously done, the Delegated Claims Entity, Lead Underwriter or Broker will identify funds which need to be returned, the Lead Underwriter will request the liquidity position be validated to confirm the position balances and then agreement will be given to transfer the funds to Underwriters via the Broker. The Vitesse Loss Fund account in Vitesse will then be closed.

Does Vitesse offer automated notifications when a Loss Fund is running low?
Yes, there is a ‘Balance Alert’ feature in the system which can be set to an appropriate level in line with your requirements. An alert will be sent informing you of the current balance in the account, the last few weeks of payment history and the bank details to send funds to.

Making Payments

How do I pay a claim when the payment is too large to be drawn from the Loss Fund?
A cash call can be processed via the broker (or by direct settlement) into Vitesse. Each Loss Fund account will be given a unique 3 digit reference, once the Broker has collected from Underwriters they are required to send the funds to Vitesse bank details, quoting the 3 digit reference number and the funds will be automatically allocated to the correct Loss Fund in order to pay the claim for which the cash call has been requested for.

How are recoveries processed via Vitesse?
Vitesse operate in the same way as a traditional bank account in that funds can be received into the accounts as well as paid out from the accounts.

Vitesse however cannot receive Checks/Cheques into the accounts. To receive Checks/Cheques you will need to debit this into a Client Bank Account and transfer the funds electronically into the relevant Vitesse Loss Fund once the Check/Cheque clears.

What can the ‘External References’ be used for?
External Reference 2 must be used for your internal Claim Reference which corresponds to you Claims System and in turn Claims Bordereau entry for reconciliation purposes. The External Reference 2 you enter will appear in the Merchant Reference field on the Accounts home screen.

The remaining fields can be used to record any other pertinent information relating specifically to that payment, the content will not go with the payment, but can be reported on.

What should be entered in the ‘Payment Reference’ field?
This is the field that appears on the payee(s) bank account, typically this would be a claim, policy or invoice number so the payee(s) can easily identify the payment.

What Country should I select when making a payment?
The Country of the Bank Account of the payee.

Can payments be made in batch to Vitesse?
Yes, you can download a batch file upload template from Vitesse and as long as the data you send across conforms to the template the payments will be upload and paid.

Can I upload and agree my own payments?
No. The system has built in controls which prevents this from happening as a counter-fraud control. An authorised User will be required to approve payments raised by another User.

What happens if Vitesse reject a payment?
If the payment is rejected the Vitesse Operations Team will be in contact with the ‘Key Contact’ at the Delegated Claims Entity to advise the reason for the rejection and / or request for any additional documentation to help the payment go through.

How does this work for co-lead business?
If all of the co-leads are using Vitesse, the Delegated Claims Entity can move the funds from each Insurers account into a central account for one payment to be made to the claimant.

If not all co-leads are using Vitesse, the Delegated Claims Entity can pay their own Client Bank Account from the Vitesse Loss Fund of a particular co-lead, and once 100% of the funds are received the Delegated Claims Entity can make the payment.


Can Checks/Cheques be paid using Vitesse?
Yes, (US Only). Vitesse has partnered with a company called ‘Deluxe’ whom offers an e-Check/Cheque solution. Outside of the US, an electronic payments method is encouraged due to the time and cost efficiency available.

If however Check/Cheque is the only method of payment available then you will be required to draw the amount from the applicable Vitesse account into your own Client Bank Account and cut the check/cheque from there.

Can there be a dual payee on an e-Check/Cheque?
Yes, the e-Check/Cheque solution allows for dual payees to be referenced to protect the interests of any named parties.

Will a copy of the e-Check/Cheque be available for our file?
No – not currently. Vitesse are looking at building out the e-Cheque/Check reporting functionality so this is available within the Vitesse system.

Does the back of the e-Cheque/Check need to be signed?
No not with an e-Cheque/Check.


What is the cost of using Vitesse?
The fee is on a transactional basis and the cost is absorbed by Underwriters. There is no additional cost to a Delegated Claims Entity (Loss Fund Manager) for using Vitesse.

Are the Vitesse fees visible in the system?
Yes, on a line by line transactional basis and are easily identifiable by the payment type.

How are the Vitesse fees paid?
Vitesse take the fee from the Loss Fund at the point of making a transaction.

Where do we record the Vitesse Fees?
The Vitesse Fees need to be recorded on the Claims Bordereau for collection from Underwriters in order to replenish the Loss Fund. These fees can be recorded by either adding a ‘Vitesse Fee Paid This Time’ column and ‘Vitesse Fee Paid To Date’ Column or creating a dummy claim and assigned all Vitesse fees to that claim. Either option will need to be presented on the Claims Bordereau.

The method to be used should be agreed with the Lead Underwriter.


Will I be required to complete a Loss Fund Activity Form?
No, once a Loss Fund has been established in Vitesse a Loss Fund Activity Form will no longer be required.

If however you are still holding Loss Funds outside of Vitesse you will still be required to complete the Loss Fund Activity Form and submit this with the Claims Bordereau until such time it is transitioned into Vitesse.

What will replace the Loss Fund Activity Form?
You will be required to submit the cashbook report from Vitesse with the relevant Claims Bordereau to evidence that the position reconciles. The Cashbook can be run each time required or as a scheduled report from Vitesse.

Do I still need to produce a Claims Bordereau?
Yes, you will still be required to produce Claims Bordereau in line with the terms of the Slip in order to replenish the Loss Fund so future Claims can be paid.

Do I need to reconcile the Loss Fund if it is held in Vitesse?
Yes, this remains a requirement, however instead of using a bank statement, you will use cashbook report from Vitesse to reconcile against the Claims Paid information in your system and in turn on the Claims Bordereau.

Access & Support

Can I access Vitesse remotely?Yes, anywhere with an internet connection providing you are a registered User.

Can I access Vitesse at any time?
Yes, the system is available 24 hours a day 7 days a week. Payments can be uploaded anytime throughout the day and will be paid in line with the contract, subject to banking hours in any particular country.

Do I have to refer to Vitesse to set up new Users?
No. Vitesse has an admin function which allows an Administrator within the Delegated Claims Entity to manage the Users for their organisation.

How many Users can we have on Vitesse?
There is no limit on number of Users you can have in the system and you can manage the access to the system from the admin section of the system.

Is training available on Vitesse?
Yes, Vitesse will provide you with initial training on the system, either face to face or via Video conference, and any further sessions thereafter until you are comfortable with using the system.

An on-boarding checklist will be provided to you to be signed off prior to using Vitesse to confirm you have received sufficient training and documentation, and understand the future process and how to use the system.

Do Vitesse provide support?
Yes, the Vitesse Account Manager and/or Vitesse Operations Team will provide all necessary support for use of the system and making payments.

How many approvers can we set up in Vitesse?
Unlimited number of approvers can be setup as well as unlimited approver groups.

Application of Vitesse

Can I use Vitesse with other Lloyd’s Underwriters?
Yes, providing a contract is in place with Vitesse and the Lloyd’s Underwriter is in agreement for Vitesse to be used.

Can I use Vitesse for non-Lloyds business?
Yes, providing a contract is in place with Vitesse and the Insurer is in agreement for Vitesse to be used.


Is the use of Vitesse mandatory?
No, it’s an elective service, however given the benefits of such a system Lead Underwriters are likely to want to use the system across their entire portfolio of Loss Funds.

Does the Lead Underwriter need agreement from the following market to use Vitesse?

Does Vitesse have reporting capabilities?
Yes, there is a standard suite of commonly used reports available from the Vitesse System and bespoke requirements can be catered for if required.

Is there still the requirement to perform Sanction checks?
Yes, the use of Vitesse does not negate the requirement for all parties in the payment process from performing the necessary checks.

Can Vitesse be integrated into our Claims Management System?
Yes, this requirement should be raised with Vitesse who will organise a meeting to discuss the technical requirements.

What happens if I receive a recovery related to business where the Loss Fund has been closed?
The recovery can still be received as per the recovery procedures, Vitesse would need additional information as to the destination of the recovery and Vitesse would then pay the funds back to the Underwriters either via the Broker or direct, depending on the Market and participation.

Key Responsibilities


Only applicable for TPAs who have existing Loss Funds – see ‘Transitioning Existing Loss Funds’ section.


  • Make single/batch/API claim payment(s) via the Vitesse platform.
  • Ensure consistent referencing is maintained to allow for reconciliation to the Bordereau.


  • Reconcile the Vitesse cashbook position against the Claims Bordereaux.
  • Ensure Vitesee Fees are included within Claims Bordereaux.


  • Oversee balance of Loss Fund and raise Top Up requests for Claims Bordereaux and Cash Calls.
  • Set balance alerts and request exceptional deposits where required.


  • Submit Final Claims Bordereaux to Broker to replenish Loss Fund to liquidity amount.
  • Return Loss Fund to Underwriters via Broker.


Frequently Asked Questions


What is the change in process with Vitesse as opposed to the TPA?
The only change here is where the funds are held. Everything else is remains the same.

I have payments to be issued to Vitesse for more than one TPA, can I send this as one transaction?
Yes. A benefit of Vitesse is that you can make one transaction for multiple Carriers/TPA’s and Vitesse will split out each amount, under the assumption that an allocation breakdown has been sent through.

What is a UI and why is this required?
UI stands for “Unique Identifier”. This is essentially our referencing that is required to allocate funding receipts to the correct TPA accounts. Without this, the balance will remain unallocated.

How do I obtain a UI for each account?
Our references are generated upon creation. The process of raising a loss fund remains. TPA will present bordereau and request that a fund is established. Underwriters will agree this and notify Vitesse that an account needs to be added. Vitesse will relay those details to the BOR & Delegated Authority.

Where should payment breakdowns be sent to?
Payment breakdowns should be sent to

What happens if I have a payment to issue to Vitesse but I have no reference?
Please contact and your request will be handled. There may be an underlying reason as to why you do not have this.

What if I have a cash call to issue where a Loss Fund hasn’t been established?
Vitesse is a Loss Fund Management solution, so we do not raise accounts where there is no agreed float. In this case, the amount can be provided direct to the TPA who can then pay out to the beneficiary.

Settlement Process

Does Vitesse replace the TPA or Broker?
No. the process up until settlement is still fully functional, Vitesse are just there to facilitate the payment in a more effective way.

Does the TPA draw down from the Vitesse account to issue a payment?
Vitesse can process transactions direct to the insureds, so no draw down is required.

Can Vitesse service cheques?
Yes, Vitesse have an ECheck solution for the US only. This is emailed direct to the beneficiary and can be cashed at any bank.

Repatriation of Loss Funds

Will Vitesse be responsible for returning inactive Loss Funds?
No. The TPA will remain responsible for reconciling and returning the accounts to the broker. Vitesse will close off the account once the balance is nil.

If the account has been reconciled, can the balance be returned short of the full Loss Fund for the Broker to add in any unpaid bordereau amounts?
No. The balance should reflect the full Loss Fund amount prior to the TPA returning it to the desired bank details.


Can I have access to the Vitesse platform?
Yes. We provide a “view-only” profile to all the contracts where you are BOR on to enable oversight of balances and activity.

Key Responsibilities


Set up new UCR to establish Vitesse Loss Fund.


Receive funds following Underwriters approval and transfer to Vitesse using unique ID provided.


Read-only access to Vitesse platform to oversee accounts and ensure funds are sufficient and optimised.

Top Up

Receive and process Claims Bordereaux and any cash calls requests following Underwriters approval.


Instigate return of Loss Funds to Underwriters once claims activities reduces or stops.

Managing Agents / Insurers

Frequently Asked Questions

Creating Accounts

How are TPA sub-accounts created?
Vitesse have a standard application form which needs to be populated in order for an account to be added to the system.

Where can I obtain the account form?
If you contact, a member of the Insurance Team will send you through a copy.  

Is there a requirement for one form per account?
Yes. We hold a copy of each application form for when we are audited.

What is the SLA for account creation?
Vitesse require a maximum period of 48 hours to create accounts upon receipt of the form.

Should the Binder Wording be adjusted to include “Vitesse”?
Yes. There are examples of Binder Wording amendments in “Vitesse in a Box”.

Onboarding of delegated authorities

What is required in order to begin the onboarding process?
All that Vitesse requires is a point of contact within that business and we will contact them.

How is the training conducted?
WebEx calls and site visits (depending on logistics).

What training is included?
Vitesse provide a full overview of the online platform, including example transactions, raising reports, and describing the end to end process to ensure that party is comfortable.

Is there further support available?
Yes. We have a mailbox which handles all queries with regards to payments that have/are in the process of being raised. This is

Can I obtain a list of TPA’s/Coverholders that are already utilising the Vitesse platform?
Yes. will be able to provide these documents.

Repatriation of loss funds

Vitesse are holding an inactive Loss Fund; how can I request that this is returned?
The normal process still stands here whereby, an instruction would go to the TPA/Broker to request its’ return. Vitesse do not deduct any funding from client accounts, this is their responsibility under their obligation to manage that float.

Do Vitesse provide notifications for accounts that are “inactive”?
No. Vitesse cannot determine when an account is “inactive” because we have no way of checking any underlying reserves on each contract. All transactions are dated so you would have the ability to filter your accounts by their most recent movement and reconcile this against outstanding reserves.


How would we transition legacy Loss Funds into Vitesse?
Please contact and they will provide you with a deck to explain this process?

Can we schedule regular meetings to monitor progress and outstanding issues?
Yes. We would encourage frequent meetings and communication to ensure the transitional process is smooth and that progress is made.

Key Responsibilities

  1. Provide complete application form per account (generally 1 account signifies a Loss Fund).

  2. Inform relevant Third-Party about the use of Vitesse supporting our initial contact for onboarding.

  3. Ensure there are designated internal personnel for Vitesse to contact for any issues/blockages.

  4. Work with Vitesse to create a process whereby all renewals and new business are placed into Vitesse.

  5. Initiate rolling progress meeting.

  6. Provide list of internal personnel that will require access to all Loss Funds within Vitesse.

Legacy Funds

The high level overview of the process of how funds are transferred to Vitesse.
1. Validate

Vitesse check the loss fund and TPA bank account position ahead of transition sign off.

2. Transfer

Agreement between MA and TPA to clear the legacy TPA held bank account by paying the balance via e-transfer into bank details provided by Vitesse.

3. Settlement

Claim settlement date determined by MA. Corresponding BDX submitted to Broker or MA for collection and reimbursement.

4. Payment

Broker would typically pay all reimbursements to the TPA; they are instead instructed to reimburse previous months BDX into the Vitesse programme, completing the transition.

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