Five Sigma, a prominent AI claims management software company, has introduced the insurance industry’s first AI-powered Insurance Adjustment Agent, Clive™.
This innovation is set to transform claims processing by using artificial intelligence and automation to boost efficiency, accuracy, and reduce costs, according to InsurTech Insights.
Clive™ provides extensive automation capabilities throughout the entire claims lifecycle, from initial loss notification to settlement. The AI adjuster performs tasks traditionally handled by human adjusters, such as document management, exposure setting, personalized communications with policyholders, and real-time decision-making.
Clive™ ensures smooth interactions with policyholders, keeping them updated throughout the claims process.
Established in 2017, Five Sigma has led the way in integrating AI and automation into its claims management platform, improving customer satisfaction for carriers, MGAs, TPAs, and self-insured companies.
The launch of Clive™ represents a major advancement, offering AI-powered claims handling not only for Five Sigma’s own Claims Management Platform but also for any existing Claims Management System (CMS), including Guidewire, Duck Creek, Sapiens, and Majesco.
Oded Barak, Co-founder and CEO of Five Sigma, stated, “Clive is more than innovation, it’s a revolution in claims management, marking a significant milestone in our company’s journey towards claims management transformation. Clive acts as a proficient and effective claims adjuster. It’s a testament to our commitment to driving the insurance industry forward with AI and automation, demonstrating that the future of claims is here and now. We’re empowering our customers, and the insurance industry, to achieve unparalleled efficiency and greater customer satisfaction.”
As AI and automation continue to transform the insurance industry, Five Sigma’s Clive™ is poised to lead the way, offering insurers the tools they need to stay ahead in an increasingly competitive landscape.
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