Five Sigma Selected by Travel Insurer Faye to Power Its Claims Management

We are thrilled to announce that travel insurance provider Faye has selected Five Sigma to power Faye’s claims management. Our new partnership means that going forward, claims filed with Faye will be handled through our intelligent claims management solution (CMS).

Faye, a fully digital provider of travel insurance, offers whole-trip coverage that can be purchased conveniently from its app or website. In addition to providing excellent protection, Faye offers 24/7 assistance and quick claims resolutions and reimbursements. Through its innovative technology and focus on the customer experience, Faye focuses on raising the bar for customer experience within the travel insurance industry.

By working with Five Sigma, Faye will simplify the entire process of filing claims, delivering a top-notch experience to Faye’s customers.

Why Five Sigma?

A fellow insurtech company, Faye chose Five Sigma largely for our innovative approach to offering a better experience to the end user, while streamlining claims processing for Faye’s claims team. With Five Sigma under the hood, Faye will build on the levels of customer service and coverage on which the company prides itself.

This partnership will let Faye tap into the power of Five Sigma’s end-to-end digital claims management suite. Using claims data to make claims management more efficient, reliable, and user-friendly, our CMS offers just-in-time guidance and recommended next steps to help each claims adjuster optimize their performance. It also includes configurable, automated workflows and an embedded omni-channel platform for communicating with customers, as well as third-party integrations and open APIs.

With this new step, we are excited to partner up with Faye to bring data-driven innovation to the travel insurance industry’s claims management, much like we do for home and auto insurance.

For more on Faye and how we’re working together, check out our press release.

Five Sigma - AI-Native Claims Management Platform

Five Sigma offers an AI-native claims management platform that streamlines every step of the claims process. With full visibility of the claim at a single place, advanced automation, and data-driven insights, Five Sigma empowers adjusters to excel, speeding up claims handling and improving policyholder satisfaction. Adjusters are freed to focus on decision-making and customer service. 

For insurers, MGAs and TPAs, Five Sigma is a risk-free solution that unlocks unprecedented benefits quickly. Insurers gain unparalleled visibility into their claims and operations. The result is a significant reduction in Loss Adjustment Expenses. Five Sigma is a future-proof platform that is always up to date for the benefit of all its customers and gives insurers the agility to handle any claim faster, add new Lines of Business in less than a day, and accommodate new business models easily, enabling you to adapt swiftly to market changes ahead of the competition.

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