Five Sigma Launches New Embedded Performance QA to Optimize Claims Adjusters’ Performance
Five Sigma, an emerging leader in cloud-native insurance claims management solutions (CMS), today announced the launch of an advanced Performance QA tool that enables claims leaders to monitor critical claims operational KPIs and measure the quality of claims handling by its adjusters.
The embedded Performance QA module lets claims supervisors review their adjusters’ work from directly within the claims system and evaluate their performance based on timeliness, adjudication, payments, and customer experience. It can also be used to QA exposures and ensure mandatory compliance regulations are being met.
The main objectives of our intuitive claims management solution is to optimize efficiencies, improve the overall performance of claims adjusters and reduce errors,” said Oded Barak, Five Sigma co-founder and CEO. “Such improvements will reduce insurers’ loss adjustment expenses (LAE) and improve their bottom line.”
Using a user-friendly QA form wizard, claims managers can quickly and easily create a QA form, without dependence on IT or development. The QA form consists of up to 25 quantitative or qualitative SLA questions used to query exposures.
Once a form has been created and is activated, a supervisor can run a query based on their desired exposure definition, such as coverage, type and subtype. These can be further filtered by adjuster, sub-organization, line of business, and date range.
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