Boost Insurance Chooses Cloud-Native Five Sigma to Support its Streamlined Claims Operations
Five Sigma, an emerging leader in cloud-native Claims Management Solutions (CMS), today announced that Boost Insurance (Boost) has successfully implemented Five Sigma’s CMS for its in-house claims management program. Boost chose the Five Sigma claims platform to leverage its quick time to deployment, seamless adaptability to existing workflows, and ability to provide a customized solution for Boost’s needs.
Boost’s insurance infrastructure-as-a-service platform packages the necessary compliance, operational, capital, and technological components of an insurance program into a turnkey white-label solution. The company previously handled claims for certain lines through third-party administrators (TPAs) but wanted to begin to bring the claims process in-house.
“Boost is committed to utilizing technology to provide better service, better handling, and faster response times,” says Travis Phifer, Director of Claims. “Five Sigma is a leader in tech-driven claims management and was the clear choice to partner with on this initiative.”
Added Phifer, “With Five Sigma, we’ve seen immediate, vast improvement on claims cycle time, and an increased ability to utilize data and analyze claims trends. We look forward to continuing our partnership with them to further leverage technology to provide a superior claims experience for both our end users and our insurance and reinsurance partners.”
Five Sigma provides a full end-to-end suite for digital claims management featuring rapid configurable automated claim workflows, an in-system omni-channel communication platform, automated documentation, reporting, and open APIs. With its unique SaaS offerings and agile methodology, Five Sigma’s solutions are deployed in weeks instead of months.
“We are thrilled to partner with such a leading disruptor and to support Boost in their vision to innovate faster. We look forward to continuing to help them grow and succeed in other lines of business,” said Oded Barak, CEO and Co-founder of Five Sigma. “This partnership is yet another sign that insurers worldwide are adopting SaaS solutions for the most critical functions of their organizations.”
About Boost Insurance
Boost empowers any company to achieve significant recurring revenue by offering insurance through their own digital experience. Licensed to develop and sell insurance products in all 50 states, Boost provides insurance infrastructure-as-a-service that packages the necessary compliance, operational, capital, and technological components of an insurance program into a turnkey white-label solution, accessible via a simple API integration. Businesses that choose Boost can reduce the cost and complexity of building and managing their insurance function, and quickly begin engaging their customers with valuable insurance products. For more information, please visit boostplatform.io.
About Five Sigma
Five Sigma is a cloud-native, data-driven Claims Management Solution (CMS) with embedded AI/ML capabilities to allow intelligent claims processing for the insurance industry. Five Sigma optimizes claims management by adding automated claims processing workflows, using data modeling and AI to provide smart recommendations, improving adjuster’s decision-making, and reducing errors. Leading insurance carriers, Insurtech, TPAs and Self-Insured companies use Five Sigma’s CMS to modernize their claims management operations, reduce claims leakage, enhance compliance and improve their customers’ experience. For more information visit: www.fivesigmalabs.com