Five Sigma Supports Indemnity National Insurance Company’s Claims Handling with AI-Native Claims Platform
The strategic partnership between INIC and Five Sigma supports effective claims management for high-value, complex claims.
Indemnity National Insurance Company (INIC), a leading provider of commercial excess liability insurance, has partnered with Five Sigma to overhaul its claims management system. INIC uses Five Sigma’s robust, AI-Native claims platform to streamline complex claims processes, enhance operational efficiency, and improve customer satisfaction.
Looking for Effective CMS with Smooth Integrations
INIC specializes in handling complex high-value excess insurance claims across more than 40 states. The company’s previous claims management system involved several manual processes and disconnected operations that affected its efficiency. INIC’s challenge was to find a claims management system (CMS) that could integrate seamlessly with their existing systems, support remote operations by staff across the country, and manage extensive, long-tail claim files efficiently.
Five Sigma Meets Requirements for Policy and Payment Integrations
Five Sigma’s cloud-based SaaS claims management platform was selected for its exceptional capability to integrate with INIC’s policy and payment systems out-of-the-box. The platform also offers a centralized communication hub for all claim-related interactions, ensuring documentation and updates are easily accessible, which is crucial for excess claims like INIC’s that may remain inactive for extended periods. Five Sigma’s AI-driven insights and automation capabilities significantly improve the claims handling process, making sure that nothing falls between the cracks and the company handles its customer interactions quickly and effectively.
Key features and benefits of Five Sigma for INIC include:
- Automation and AI Built-In: Five Sigma automates routine tasks and provides intelligent recommendations, freeing up adjusters to focus on complex decision-making and enhancing customer interactions.
- Plug & Play Integrations and Advanced API Framework: Five Sigma easily connects to all other insurance systems, so customers get a unified claims experience without switching apps. The robust API framework allowed INIC easy integration with policy and payment systems.
- Centralized Communications: All communications related to a claim are logged and accessible within the platform, improving transparency and accountability. Executives and adjusters can easily access and use the platform from anywhere, including their mobile phones.
- Quick Implementation and Intuitive Use: The platform’s friendly design allows for rapid deployment and ease of use, ensuring INIC’s team could transition with minimal disruption and immediate productivity gains.
Drew Byron Meadows, Claims and Coverage Manager at INIC, said:
“Partnering with Five Sigma has allowed us to transform our claims process, integrating cutting-edge technology that supports our unique needs in handling high-value claims. The team was able to easily integrate with our proprietary risk assessment and casualty systems. The Five Sigma platform enhances our operational efficiency and significantly improves our customer service capabilities.”
Oded Barak, Co-founder and CEO of Five Sigma, said:
“We are thrilled to support INIC in their journey to modernize claims management. Our platform is designed to adapt to any insurance line of business. We therefore easily configured the platform to handle the complexities of high-value commercial excess claims, ensuring that INIC can meet their commitment to excellent customer service and regulatory compliance with speed and accuracy.”
About INIC
Indemnity National Insurance Company, a Mississippi domiciled insurance company, headquartered in Franklin, Tennessee, offers surety and excess liability insurance products to commercial and industrial sector customers. INIC holds an A- rating from AM Best and is licensed to issue insurance products in 49 states and the District of Columbia.
https://indemnitynational.com/
About Five Sigma
Five Sigma offers an AI-native claims management platform that streamlines every step of the claims process. With full visibility of the claim at a single place, advanced automation, and data-driven insights, Five Sigma empowers adjusters to excel, speeding up claims handling and improving policyholder satisfaction. For insurers, MGAs and TPAs, Five Sigma is a risk-free solution that unlocks unprecedented benefits quickly. Five Sigma is a future-proof platform that is always up to date for the benefit of all its customers and gives insurers the agility to handle any claim faster, add new Lines of Business in less than a day, and accommodate new business models easily, enabling customers to adapt swiftly to market changes ahead of the competition.
For more information, visit Five Sigma’s website at: https://fivesigmalabs.com/