Clive™ is set to revolutionise claims processing by leveraging artificial intelligence and automation to enhance efficiency, accuracy, and cost reduction.
Gil Nechustai, VP of Product at Five Sigma, commented: “We’re relying on data and computer algorithms as the default for claims handling and turning to human smarts and decision-making only when necessary. We’ve developed Clive as the embodiment of this approach, leveraging our proprietary expertise and taxonomy in claims automation and enabled by the latest AI and LLM technologies.”
Clive™ offers comprehensive automation capabilities across the entire claim lifecycle, from initial loss notification to settlement. The AI adjuster handles tasks traditionally managed by human adjusters, including document handling, exposure setting, personalised communications with policyholders, and real-time decision-making. Clive™ ensures seamless interaction with policyholders, keeping them informed throughout the process.
Founded in 2017, Five Sigma has been at the forefront of integrating AI and automation into its claims management platform, enhancing customer satisfaction for carriers, MGAs, TPAs, and self-insured companies. The introduction of Clive™ marks a significant milestone, offering AI-powered claim 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.
