Structure the journey from reserve to payment with configurable approval chains, automated payment processing, and full FCA-compliant audit trails.
Settlement is where claims handling meets financial control. Without structured workflows, authority limits are informally managed, payment approvals happen over email, and the audit trail is scattered across systems. This delays payments to policyholders — directly conflicting with FCA Consumer Duty expectations — and increases the risk of overpayment or leakage.
Handler authority limits are often managed via spreadsheets or tribal knowledge. Breaches are caught late, if at all, creating financial control and compliance risk.
Settlement approvals happen in email chains, making them slow, unauditable, and easy to miss — especially when approvers are out of office.
Manual payment instruction creation and multi-system data entry mean policyholders wait days between approval and receipt — damaging satisfaction and increasing complaints.
Settlement rationale, reserve movements, and approval decisions are captured inconsistently, making it difficult to evidence fair treatment during FCA reviews.
Purpose-built capabilities — not generic templates you have to work around.
Define settlement authority limits by handler grade, claim type, and reserve band. The system enforces limits automatically — no payment can proceed without appropriate sign-off.
Multi-stage approval chains route settlement requests to the right authority level. Approvers can review, amend, or reject within the platform with full rationale capture.
Generate payment instructions in the format required by your finance system or payment provider. Support for BACS, faster payments, and cheque runs.
Capture settlement rationale, fair value considerations, and vulnerability flags at point of decision. Produce MI reports demonstrating fair treatment outcomes.
Track reserve movements through the claim lifecycle with automatic alerts when reserves breach notification thresholds for reinsurance or excess-of-loss treaties.
The claims handler documents the settlement rationale, proposed payment amount, and any applicable deductions (excess, contribution, salvage credit). Reserve is reviewed and adjusted.
The system checks the payment amount against the handler's authority limit. If it exceeds their level, the settlement is routed to the appropriate approver based on the authority matrix.
The approver reviews the claim file, settlement rationale, and supporting evidence. They approve, amend, or refer back — all within the workflow with timestamped rationale.
On approval, the system generates a payment instruction in the required format and submits it to the finance system or payment provider. The policyholder is notified of the payment.
Once payment is confirmed, the claim is closed with a complete audit record — settlement rationale, approval chain, payment confirmation, and final reserve position.
Try these tools to assess and improve your operations.
Yes. The authority matrix supports different limits by claim type, peril, line of business, and handler grade. You can also define escalation paths for specific scenarios like bodily injury or third-party claims.
The system supports multiple payment stages per claim — interim payments, part settlements, and final settlements — each with their own approval workflow and running total tracking.
Yes. SwiftCase generates payment instructions compatible with major finance platforms and supports BACS file generation, faster payment APIs, and manual cheque request workflows.
At each stage of the settlement workflow, handlers and approvers are required to provide structured rationale covering the basis of settlement, fair value assessment, and any vulnerability considerations. This data feeds directly into Consumer Duty MI reporting.
See how SwiftCase enforces authority limits, accelerates payments, and provides the audit trail your FCA supervision team needs.
