The native integration with One Inc will offer Five Sigma customers diversified, digital payment options that improve customer experience, security, and speed
Five Sigma, an emerging leader in cloud-native insurance Claims Management Solutions (CMS), today announced that it has partnered with One Inc, a nationally-recognized digital insurance payment solutions provider, to offer its U.S.-based customers more convenient and diversified claims payment options.
This out-of-the-box integration between One Inc and Five Sigma gives insurers the ability to process digital payments without leaving the Five Sigma CMS, for both inbound premium payments, and outbound claims disbursements. It also gives claimants the flexibility to choose from a robust portfolio of digital payment options, for a better claims experience.
Five Sigma chose to partner with One Inc after getting a customer request from a leading commercial auto insurance provider, to integrate the digital claims payment functionality into their claims management solution.
The key reasons for insurers to adopt and prioritize digital claim payments include:
1. Retain customers by delivering faster payments, for all exposure
2. Improve efficiencies and reduce costs by expediting claims settlements
3. Minimize risk by reducing the chances of human error and frauds
“Digital payments have become a key requirement in insurance claim to offer an impactful customer experience,” said Michael Landtroop, One Inc’s Vice President of Alliances. ”Partnering with Five Sigma allows us to provide their customers with a secure, seamless, and more cohesive payment experience.”
“As we continue to expand and diversify our partner ecosystem, we look for solution partners that ensure we deliver on our promise to our clients to provide them with state-of-the-art SaaS claims management solutions,” said Oded Barak, CEO and Co-founder of Five Sigma. “One Inc’s commitment to creating fast, flexible, and future-focused products fits perfectly with the type of solutions we want to offer through our marketplace.”
One Inc is modernizing the insurance industry through a unified and frictionless payment network. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications, and rapid digital claim payments, even for the most complex insurance use cases. As one of the fastest growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claim payments.
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.
