The insurance industry is constantly changing. Accordingly, there’s always a need to change something in your claims management systems and processes to accommodate such changes. With your legacy systems, each change creates a long and frustrating wait for an expensive system update. We say: no more.
As a Cloud SaaS solution, Five Sigma’s platform is designed for adaptability and continuous evolution. Regular updates ensure the platform stays ahead of industry trends, incorporating the latest advancements in technology. This enables it to consistently meet the changing needs of all its customers and users, providing them with the most up-to-date features and improvements without any disruptions or downtime.
Your organization and business change over time. With Five Sigma, you don’t need to commission expensive change requests – you can simply configure your platform to work the way you want to. With no-code configuration, you can adapt Five Sigma to the new workflows, add new Lines of Business, and accommodate business models, within a few clicks.
Five Sigma’s platform stands out from the competition in its ability to customize any workflow and screen to the changing needs of an individual customer.
Customers can configure their fields, workflows, rules, screens, reports, and dashboards on their own – with no need to use any code, and no need to wait for a system update (like with legacy systems).
You can simply tailor the platform to meet yours specific operational needs:
Customizing the First Notice of Loss forms to capture the specific data points crucial for their unique processes, ensuring that the initial claim input aligns perfectly with their operational requirements.
The platform offers the ability to set custom rules for assigning claims to adjusters based on various criteria such as claim type, severity, or adjuster expertise, ensuring that each claim is handled by the most suitable personnel.
Adjusters can define and implement tailored logic for assessing exposures and calculating reserves, allowing for more accurate financial planning and risk management tailored to the nature of each claim.
The platform sends automated alerts and notifications that keep all relevant stakeholders informed about key claim events or milestones, enhancing communication and response times.
The system provides a robust framework for managing user permissions, ensuring that access to sensitive data and critical functionalities is controlled and compliant with company policies and regulatory requirements.
Adjusters can create and customize communication templates for emails, texts, and other correspondence within the platform, streamlining interactions with claimants and partners while maintaining a consistent brand voice.
Five Sigma supports configuring the platform to reflect the organization’s hierarchy and structure, allowing for seamless integration of workflow processes and reporting lines that mirror the organizational setup and governance.
And our Support team is always available with documentation and live hand-holding, to help you and your adjusters make the most of the platform.
Integrating well with your other insurance systems and data sources is essential for processing claims effectively. Five Sigma integrations allow for immediate data synchronization, ensuring that adjusters have all claim-related information at one place on the Five Sigma platform and that everything is accurate and up-to-date.
By connecting seamlessly with other systems, we minimize manual data entry and human errors and speed up claims resolution. This, in turn, improves customer satisfaction and trust.
Five Sigma’s platform includes an advanced API (Application Programming Interface), which is a set of protocols and tools for building software and applications. This API allows different software systems to communicate with each other. For example, Five Sigma’s platform can send and receive data from other systems your business uses, like accounting software, customer relationship management (CRM) systems, or other insurance-specific applications. This connectivity ensures that data flows seamlessly between systems without manual input, reducing errors and saving time.
Our API Framework also allows our customers easier integration with new technologies and systems, enabling the product to adapt to evolving industry standards and emerging technologies without requiring significant changes to the core system. It also enables your developers and IT teams to build new applications, services, and integrations on top of the Five Sigma platform, fostering an ecosystem of innovation and extending the platform’s capabilities in new and unforeseen ways.
Plug-and-play integration means that the platform is designed to easily connect with other systems with minimal configuration required. This is often facilitated through pre-built connectors or modules that can directly link Five Sigma’s platform to other commonly used software in the insurance industry. These connectors are designed to “plug” directly into both the Five Sigma system and the third-party system, making them “play” nicely together without extensive customization.
Our cloud SaaS platform streamlines your insurance operation through continuous, automatic updates without the need for manual interventions.
The updates are applied outside of peak hours to avoid disruptions, integrating seamlessly with your existing data and workflows, allowing adjusters to access the latest tools for efficient and effective claims handling.
Insurers benefit from automated compliance and regulations updates, improved system performance, and newly developed platform features.
Browse our blog posts for the latest insights and trends in claims management.
ROCKY HILL, CT – December 6, 2023 – Five Sigma, a trailblazer in modernizing claims management, proudly announces a collaboration with Google Cloud to infuse advanced Native AI capabilities into its Claims Management System. The new AI functionality named “AI...
