TEL AVIV, ISRAEL, APRIL 20, 2022 – Five Sigma, an emerging leader in cloud-native insurance Claims Management Solutions (CMS), today announced the company has been recognized as a “Technology Standout” in the Claims Systems Vendors: North American Property & Casualty Insurance, 2022 Edition Report, an evaluation of core claims management solutions (CMS) by Celent, a leading global research and advisory firm.
The Claims Systems Vendors: North American Property & Casualty Insurance, 2022 Edition Report profiles and evaluates 21 of the most significant CMS vendors, based on Celent’s ABC methodology, which positions vendors across three dimensions: advanced technology, breadth of functionality, and customer base and support.
According to Celent’s report, “Five Sigma’s Claims Management Solution is an impressive solution that offers a particularly crisp UI and has powerful built-in analytics capabilities. Insurers looking for a highly usable SaaS-native core claims system that provides a wide array of analytics and BI capabilities may be particularly interested in this offering.” Celent also highlighted that the Five Sigma CMS “has a modern and cutting-edge UI. Intake screens and the adjuster workbench are well designed and intuitive. Not only are there many user-friendly icons that can streamline the claims workflow, but it is also easy for users to navigate to where they need to go and convey a lot of information.”
“We are proud that Celent recognized us as a Technology Standout in an evaluation of our cloud SaaS CMS solutions, but what we believe truly sets us apart is our single-mindedness to being the most innovative and disruptive claims management vendor on the market,’” said Five Sigma CEO and Co-founder Oded Barak. “We leverage AI and data and provide claims intelligence to make claims processing smarter and simpler, at any scale. Going forward we will continue to serve P&C insurance carriers with the best CMS solutions to drive the success of the business.”
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a division of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh McLennan. [NYSE: MMC].For more information, visit www.celent.com. Follow Celent on Twitter @Celent_Research.
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