Five Sigma Claims Management for Auto (OLD)
Auto Insurance is Undergoing a Revolution
Auto is the largest P&C line of business and is mandatory in most states in the United States, and globally.
Rapid changes in technology, demographics, and consumer expectations are disrupting the industry. Traditionally cautious and heavily-regulated, today’s insurance companies are facing a radical shift in the advent of digital.
At a time when the ability to handle claims quickly and accurately is a matter of survival, many insurers still struggle to digitize their claims operation.
This is impacting growth, profit targets and insurers’ strategic competitive advantage.
Key Challenges for Automotive Insurers
Optimization of high frequency/low severity claims and vice versa
With diminishing tenure and experience levels within the industry’s adjuster ranks, it’s critical that a claims organization triages quickly and accurately, assigns seamlessly, ensures that claims specific protocols are applied and executed on a timely basis.
Coverage and liability investigation precision
The emphasis on resolution speed and customer service often comes at the expense of investigative quality and outcomes.
Effective negotiations
Negotiations – a critical component of balancing speed, accuracy and customer service – is becoming a lost art.
Negotiations - a critical component of balancing speed, accuracy and customer service - is becoming a lost art.
The emphasis on resolution speed and customer service often comes at the expense of investigative quality and outcomes.
What are the Benefits of SaaS
Time to value
On-premise implementations usually take 1-3 years. Five Sigma CMS can be deployed in weeks. It’s also easy to grow and add new workflows and fields.
Business agility
Our SaaS application requires less coding and is easy to configure, making it easy to adapt quickly to market changes, gaining and maintaining a competitive edge.
Innovation
From the moment you decide to implement an on-premise solution, till the moment it is live, the technology starts to age. With a SaaS solution, the innovation is embedded in the service and the ongoing seamless upgrades is keeping it in the forefront of the technology.
Ongoing management and monitoring
In on-premise solutions, the managing responsibility to maintain the software is in the insurer’s hands (upgrades, new features and more). With Five Sigma CMS, IT is our responsibility and our clients can rest assured that they’ll have the most updated and advanced solution.
Innovation
From the moment you decide to implement an on-premise solution, till the moment it is live, the technology starts to age. With a SaaS solution, the innovation is embedded in the service and the ongoing seamless upgrades is keeping it in the forefront of the technology.
Ongoing management and monitoring
In on-premise solutions, the managing responsibility to maintain the software is in the insurer’s hands (upgrades, new features and more). With Five Sigma CMS, IT is our responsibility and our clients can rest assured that they’ll have the most updated and advanced solution.
Time to value
On-premise implementations usually take 1-3 years. Five Sigma CMS can be deployed in weeks. It’s also easy to grow and add new workflows and fields.
Business agility
Our SaaS application requires less coding and is easy to configure, making it easy to adapt quickly to market changes, gaining and maintaining a competitive edge.
Scalability
The flexibility to scale without any effort is embedded in the CMS, meaning insurers can continue to grow, fully supported.
Innovation
From the moment you decide to implement an on-premise solution, till the moment it is live, the technology starts to age. With a SaaS solution, the innovation is embedded in the service and the ongoing seamless upgrades is keeping it in the forefront of the technology.
Ongoing management and monitoring
In on-premise solutions, the managing responsibility to maintain the software is in the insurer’s hands (upgrades, new features and more). With Five Sigma CMS, IT is our responsibility and our clients can rest assured that they’ll have the most updated and advanced solution.
Ongoing satisfaction
Our recurring pricing model drives us to ensure our clients’ ongoing success.
Go live in weeks with the state-of-the-art claims management platform.
