Press

06 October 2022

Five Sigma Enhances Third-Party Administrator (TPA) Claims Efficiency with New Set of No-Code Features

Five Sigma’s new client-focused features enable TPAs to onboard new customers faster, manage claims for multiple carriers more efficiently, and improve visibility into claims operations.

NEW YORK, NY, U.S., October 6, 2022 /EINPresswire.com/-Five Sigma, an emerging leader in cloud-native insurance claims management solutions (CMS), today announced the launch of a new set of no-code features designed to enhance third-party administrator (TPA) claims efficiency and help reduce costs. The feature release provides TPAs with the tools to independently configure the CMS to match each carrier’s needs, optimize claims processing workflows and improve time to market.

To empower TPAs to remain competitive and deliver on the needs and expectations of every client, the new features will enable them to manage their clients’ claims in a configurable environment, tailored to their needs, without development or IT support.

Highlights of the new, TPA-friendly features include:

(1) Admins can easily add new clients, including supported lines of business and dedicated workflows.

(2) Coverages, claims assignment logic, system notifications, document templates and more can be configured for each client.

(3) Users viewing permissions can be configured per client, including read-only permissions for carriers and other external stakeholders.

(4) Claim identification (using a claim-numbering scheme) makes it easy to identify which customer a given claim belongs to just by looking at the claim number.

(5) Reports and dashboards can be filtered per client.

“This latest release places much-needed flexibility in the TPAs’ hands, with highly dynamic functionality that empowers them to provide faster and better service to their customers,” said Oded Barak, Five Sigma co-founder and CEO. ”Using Five Sigma’s SaaS claims management solution, TPAs gain the agility they need to react quickly to market demands, scale as needed and act as a true extension of a carrier’s claims team.”

About Five Sigma

Five Sigma is a cloud-native, data-driven claims management solution (CMS) with embedded AI/ML capabilities to allow simple and smart claims processing for the insurance industry. Five Sigma simplifies claims management by adding automated claims processing workflows, using data modeling and AI to provide smart recommendations, improving adjusters’ decision-making processes and reducing errors. Leading insurance carriers, insurtechs, TPAs and self-insured companies use Five Sigma’s CMS to modernize their claims operations, reduce claims leakage, enhance compliance and improve their customers’ experience. For more information, visit https://www.fivesigmalabs.com.

Go live in weeks with the state-of-the-art claims management platform.