CLAIMS PLATFORM AS A SERVICE

Five Sigma brings claims organizations to the future of claims resolution

CLAIMS PLATFORM AS A SERVICE

Five Sigma brings claims organizations to the future of claims resolution

The claims platform that enables carriers to embrace innovation faster.

Five Sigma set out on a mission to allow claims organizations to innovate. With the set of claims management tools and unique platform, Five Sigma's suite is what Insurers need to bring their claims operation to the rapidly changing world.

Five Sigma Benefits

Enable adjusters and management to enhance claims resolution

Better & Faster Claims Resolution

Enhanced Customer Experience

Always Compliant

Improve Performance Management & Visibility

Continuously Improving

Lower TCO

Reporting and Data

Our Products

With our suite of Claims-First Cloud-Native and User-Centric products, we enable adjusters to handle claims better and faster. With Automating administrative tasks, Adjusters can focus on making the right decisions, while the system takes care of everything else.

In-System Omni-Channel Communication

Full end-to-end claims management

Automatic workflows

Weeks to deploy instead of months

Automatic reserve opening and claim triaging. 

On-going upgrades

Easy integration

Full end-to-end suite for claims management with in-system omni-channel communication platform, automated documentation, automated workflows, reporting and open APIs. Go live in weeks with the state of the art claims management platform.

In-System Omni-Channel Communication

Dynamic screens and questionnaires

Open-APIs for easy integration

Weeks to deploy instead of months

Automatic reserve opening and claim triaging. 

On-going upgrades

First notice of loss is a critical point for claims management. Take control of claims handling from the first moment and allow all your partners to report a loss using a variety of methods.

Five Sigma claims platform as a service re-imagines the implementation process.

With the unique SaaS offerings and agile methodology, Five Sigma's solutions are deployed in weeks instead of months and with weekly upgrades, we enable carriers to continuously improve claims operations.

Make sure your claims organization is never left behind with the Five Sigma claims management platform.

Selected Clients

Penny Hart President, TSC Direct

“Five Sigma has made the claims handling experience better for the adjuster, insured and vendor. It is much more efficient, faster, easier and better.“

Travis Phifer Head of Claims (2019-2020), Kin

“The Five Sigma Solution is the best in the market. It made the entire claim handling experience better for the adjuster. The integration and implementation was fast, user friendly, and simple.

Chris Wells MunicRe Digital Partners, North America

Five Sigma’s CMS is the best
we’ve seen.
Its level of functionality , workflows, flexibility and configurability is exactly what we were looking for."

Marc Rothschild Head of claims, Blackboard

“We evaluated across 24 core features, and 50+ sub-features, Five Sigma stood out from the pack and became the finalist.

Liz Rychling Head of Risk, MGM

“Five Sigma technology will also offer our insurance carrier partners a better understanding of our Risk Management practices while achieving a significant increase in overall productivity”

Chris Wells MunicRe Digital Partners, North America

Five Sigma’s CMS is the best
we’ve seen.
Its level of functionality , workflows, flexibility and configurability is exactly what we were looking for."

Daren McCarthy Head of Claims, HIPPO

“As we grow, the importance of utilizing automation through game-changing partner like Five Sigma will drive scale and efficiencies, while improving customer experience of Hippo”

Brandon Littles Head of claims, Inshur

“Five Sigma delivered at record time and at the highest quality... We saw an immediate improvement in cycle time of 36% and reduction in loss severity.  We are now expanding our partnership globally.”

Chris Wells MunicRe Digital Partners, North America

Five Sigma’s CMS is the best
we’ve seen.
Its level of functionality , workflows, flexibility and configurability is exactly what we were looking for."

14 Sep 2021

Insurtech startup Five Sigma raises $12 million Series A

The company was founded in 2017 by Oded Barak (CEO), Michael Krikheli (CTO), and Dror Sholomon (VP R&D) and aims to deliver a cloud-native, data-driven claims management platform with embedded AI/ML capabilities that enables insurance firms to handle customers’ claims better and faster.

14 Sep 2021

Insuretech Innovator, Five Sigma, Raises $12 Million to Accelerate Growth and Expansion Plans

TEL AVIV, Israel--(BUSINESS WIRE)--Five Sigma, an industry leading claims platform provider, has raised $12M in a Series A round led by 83North and featuring existing investors F2 Venture Capital and Pipeline Capital. New investors include Eyal Ofer’s O.G. Tech, Xceedance and iGlobe Partners. This brings the company’s total funding to date to $18M.

31 Aug 2021

Five Sigma finalizes a $12M series A round

Five Sigma, an industry leading claims platform provider, announced today that it has raised $12 million for its data-driven, cloud native claims management platform. The Series A round was led by 83North with the participation of existing investor, F2 Venture Capital, Pipeline Capital as well as new investor OG Tech Ventures, Xceedance, and iGlobe Partners, and brings their total funding to-date to $18 million.

09 July 2021

Qover partners with cloud-native platform Five Sigma to scale superior claims experience in-house

Qover sets up a robust in-house technology-led claims management structure with Five Sigma’s end-to-end claims handling workflow for rapid and efficient processing of claims, enabling an enhanced digital experience for its partners and end-customers.

17 March 2021

Hippo selects Five Sigma to scales its claims services with automation

Hippo selects Five Sigma to scale its claims services with a machine learning based reserving module. Read more to learn how the Five Sigma tehcnology helps carriers optimize their processes with automation and deliver exceptional customer experience.

03 December 2020

Cloud-Native, AI-Enabled Claims Management Platform

CEO Oded Barak in a discussion with the insuretech israel community about how cloud native AI enabled claims management platforms can transform the insurance industry.

12 Aug 2020

Five Sigma selected as one of the top claims processing and management companies in 2020 by insurance CIO outlook.

Five Sigma was selected as one of the top claims processing and management companies by insurance CIO outlook. Read the great interview with Oded Barak Five Sigma CEO to learn more about how Five Sigma delivers a true next-generation claims management platform.

12, AUG 2020

We are happy to announce the launch of our new website

The Five Sigma team has launched its new website and is excited to share its new look. We were on a mission to better explain our story and mission. We also wanted to show the different products that Five Sigma has to offer and their benefits to claims organizations worldwide. We are happy to share our new and clean design that was the result of a long and thoughtful rebranding process.

Security

Here at Five Sigma we have always taken security very seriously and use the secure by design approach

The report presents the security methodology and controls by Five Sigma's management and Ernst & Young assessment of the implementation of these controls across the organization.

We are proud to announce that our SOC2 Type 2 Report is complete and available for customers and prospects.The assessment was conducted by independent auditors, Ernst & Young, who specialize in compliance across industries.

Founded by top investors

Who are we?

Based in the US and Israel, Five Sigma provides an E2E SaaS Claims platform to insurers with a World-Class team which combines symbiotically deep claims domain & technology expertise with a proven track record

Oded Barak
Co-Founder & CEO
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Dror Sholomon
Co-Founder and VP R&D
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Michael Krikheli
Co-Founder and CTO
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Kevin Yoo
Chief Operating Officer
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Tushar Bhole
Vice President Sales
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